BingJing Intelligence Secures Tens of Millions in Pre-A+ Round to Advance Smart ICE Imaging Platform

Suzhou ICE Intelligent Healthcare Co., Ltd. (hereinafter referred to as “ICE”) recently announced the completion of its Pre-A+ financing round, raising tens of millions of yuan. The round was jointly invested by Dalton Venture and Zhongxin Capital. The funds raised will be used forAccelerate the R&D, clinical trials, and market promotion of the company’s HD-ICE (next-generation high-definition high-speed intracardiac echocardiography), 3D-ICE, 4D-ICE, and other products.. Previously, ICE completed its Pre-A financing round in July 2023, led by Dalton Venture.

ICE, founded in October 2021, specializes in cardiovascular interventional imaging. Rooted in acoustics and leveraging imaging technologies, the company is dedicated to the digital healthcare revolution by designing, developing, and manufacturing specialized digital interventional imaging products for heart and vascular diseases. ICE is committed to advancing the field of digital cardiovascular interventional imaging and empowering every scenario and process in the diagnosis and treatment of cardiovascular diseases through digital innovation.

As cardiac interventional procedures become increasingly widespread, the techniques are evolving toward greater precision, leading to a more urgent demand for interventional imaging. Currently, the penetration rate of cardiac interventional imaging in China is significantly lower than that in foreign markets, where the sector is dominated by imported giants, while domestically produced products remain in the early stages of development.

ICE is the only manufacturer in China to offer a comprehensive portfolio of 2D, HD, 3D, and 4D intracardiac echocardiography (ICE) products for cardiac interventions. To meet the demands of diverse clinical scenarios, the company has developed the next-generation high-definition, high-speed intracardiac interventional ultrasound system, HD-ICE. The product features an industry-first new-generation acoustic energy conversion system that effectively enhances signal acquisition and transmission efficiency as well as image clarity. Additionally, the HD-ICE system incorporates China’s first dedicated processing system for high-definition cardiac imaging, leveraging the latest algorithmic technologies to achieve faster imaging speeds, thereby addressing a broader range of clinical needs.

CurrentlyICE’s HD-ICE Has Undergone Animal StudiesPreliminary test results indicate that the novel imaging algorithm employed by HD-ICE demonstrates superior performance across all aspects compared to conventional 2D ICE. The algorithm significantly enhances image resolution, increasing spatial resolution by more than 10-fold and temporal resolution by more than 3-fold, while holding substantial potential for further improvement. Currently, ICE Intelligent Healthcare Co., Ltd. is intensifying its R&D efforts to further refine and perfect this algorithm.

For complex structural heart diseases, 4D ICE offers superior advantages in terms of three-dimensionality, intuitiveness, and real-time performance. In the field of 4D ICE, ICE Intelligent Healthcare has adopted the internationally mainstream electronic matrix transducer technology solution, coupled with high-speed volumetric reconstruction algorithms. Compared to mechanical volumetric imaging solutions, this approach provides a significant advantage in imaging frame rate, enabling more real-time observation of cardiac valve motion. This confers a natural advantage for procedures with stringent real-time requirements, such as mitral valve clipping. Furthermore, the reliability and stability of this solution far exceed those of mechanical volumetric imaging systems. The R&D barrier in this field is extremely high; however, leveraging its substantial accumulation of technical resources and mature solutions, ICE Intelligent Healthcare has already developed relevant test prototypes and is currently preparing for further animal experiments.

ICE is the first domestic manufacturer whose entire supply chain is 100% independent of imported components. It has established a comprehensive Class 10,000 clean production workshop and production system, maximizing supply chain security, cost controllability, and stable mass production capacity. This enables high-cost-performance, China-produced intracardiac echocardiography (ICE) products to be truly promoted and applied to Chinese patients. Since its inception, ICE has invested substantial capital and human resources in the research and development of intracardiac echocardiography products, andEstablished China's First Automated Mass Production Line for ICE。

Currently, the company has established an R&D and process manufacturing center spanning thousands of square meters, equipped with the world’s most advanced precision R&D instruments, China’s only acoustic simulation testing equipment, and China’s only automated production inspection system. This system has significantly improved production efficiency, achieving production capacity comparable to that of imported manufacturers.

ICE is positioned as a company specializing in cardiovascular interventional imaging, leveraging advanced ultrasound expertise to provide imaging solutions for cardiac interventionists and enterprises from the perspective of interventional ultrasound. The company’s vision is to establish intracardiac echocardiography (ICE) technology as a shared platform, fostering collaborative innovation with domestic structural heart disease and cardiac electrophysiology companies to jointly enhance the market competitiveness of comprehensive Chinese-made cardiac interventional surgical solutions.

In the future, ICE will continue to focus on technological innovation in the field of ultrasound-guided cardiac interventions, striving to provide more effective treatments for a greater number of patients with heart disease, break the long-standing monopoly of foreign technologies, and become an internationally influential medical device brand representing “Made in China.”

Regarding this round of financing,Zhongxin Capitalstated: “The technological barriers and entry thresholds for intracardiac echocardiography (ICE) are relatively high. The trend toward domestic substitution in the medical device sector is becoming increasingly pronounced. As an innovative medical device company, ICE possesses the capability to break the monopoly held by imported products and can achieve full localization of its supply chain. The company enjoys favorable market prospects in the fields of structural heart disease and ablation-based electrophysiology. With a well-rounded team and strong capabilities in industrialization and commercialization, we are optimistic about the company’s long-term development and hope that its products will receive regulatory approval and reach the market as soon as possible, thereby benefiting a broad patient population.”

Dalton VentureStating: “Intracardiac Echocardiography (ICE), with its clinical advantages of providing high-definition visualization of cardiac structures and blood flow information, is increasingly being applied in various electrophysiology and structural heart intervention procedures, becoming a clinically recognized industry trend. Following our initial investment, we are pleased to see the ICE team growing stronger and its product pipeline expanding. We look forward to continuing our collaboration with the ICE team, which boasts profound technical expertise, rich industrial experience, and efficient execution, to advance the localization and innovation of core components and technologies for intracardiac echocardiography, promote the development of digital and intelligent cardiovascular interventional imaging, and ultimately benefit a broad patient population.”

Zhongxin Capital is a professional fund manager under the Zhongxin Group. Leveraging its Yuanchuang and Yuanzhan series of funds, it is based in Suzhou Industrial Park, extends its reach to various cooperation zones within the Zhongxin network, and radiates outward through the China-Singapore International Business Cooperation Center (offshore). Focusing on regional leading and advantageous industries, and emphasizing its distinctive role in empowering the industrialization and internationalization of “Specialized, Refined, Differential, and Innovative” (SRDI) enterprises, Zhongxin Capital actively engages in venture capital activities.

Dalton Venture focuses on forward-looking medical innovation technologies and serves as the early-stage exclusive investor for multiple first-of-their-kind projects in China. Its investment scope covers VC funds, as well as angel funds in the Yangtze River Delta and the Greater Bay Area. The core team members all come from the healthcare industry, having successfully incubated early-stage startups and founded and managed public companies with market capitalizations exceeding RMB 10 billion. Adhering to the principle of being not only a value discoverer but also a value creator, Dalton Venture has received numerous honors, including TOP 100 VCs and TOP 20 Medical Devices by China Venture. Selected portfolio companies include Landin Medicine, Deepwise Healthcare, Hanuo Medical, Triastek, and Heyuan Biologics.