Hypothetical medical IPO: AI diagnosis is starting

spark limited reports:

The application of AI in the medical field is in full swing, and is more and more favored by the capital market. Since this year, many Unicorn enterprises in the medical field of AI have launched an impact on the capital market. Recently, hypothetical medical technology Co., Ltd. (hereinafter referred to as “hypothetical medical”) submitted a prospectus to the Hong Kong stock exchange.

Established in 2016, hypothetical medical is committed to developing and deploying hospital level AI medical products, serving doctors in multiple departments in the hospital, and realizing disease screening, diagnosis, intervention, treatment, management and research.

Focus on AI medical imaging diagnosis

According to the prospectus, it is assumed that medical has three AI medical device products, inferread CT lung, inferread CT pneumonia and inferread DR chest, as well as two sets of AI enabled medical research solutions including inferscholar and infermatrix. In addition, hypothetical medical has a pipeline of products under development composed of nine AI medical devices at different development stages and the information system product infercare follow-up.

It is assumed that the core products of medical treatment are inferread CT lung and inferread CT pneumonia. According to the frost Sullivan report, with these two products, it is assumed that medical will become the first and only AI medical technology company in the world to obtain regulatory approval in China, the United States, the European Union and Japan.

As an AI medical device for detecting pulmonary nodules, inferread CT lung can help doctors find pulmonary nodules during CT scanning. While saving doctors’ film reading time, it can obtain visual images of relevant lesion structures that cannot be provided by traditional imaging methods; The special algorithm is used to provide reference for doctors with less experience. In addition, inferread CT lung can help doctors predict the progression of pulmonary nodules even when the volume of pulmonary nodules is still quite small or the appearance is blurred. At present, inferread CT lung has been used in more than 400 hospitals in nearly 20 countries.

In a full crossover, multi reader and multi case clinical trial in China, inferread CT lung shortened the image reading time by nearly 15%, and increased the detection sensitivity of nodules of 4 mm and above by more than 40%.

Another core product of novel coronavirus pneumonia, InferRead CT Pneumonia, is the AI diagnostic device for pneumonia. By analyzing the volume, location and density of possible pneumonia (including new crown pneumonia), and comparing the changes in lung lesions revealed by CT images, the doctor can help identify and discover these lesions quickly. At present, inferread CT pneumonia has been used in more than 65 hospitals in more than 10 countries.

In a multicenter clinical trial in China, the sensitivity of inferread CT pneumonia was 98.7%, while the specificity was 88.5%.

In addition to the above two products, hypothetical medical is seeking to expand its indications to include the identification and diagnosis of benign and malignant lung tumors, and develop products for preoperative planning and navigation of thoracic surgery.

For example, infraoperate thorax planning is a product under development for preoperative planning of thoracic surgery. The preclinical research will be completed in January 2021. It is planned to carry out clinical trials in China before the end of 2021. The application for registration of class III medical devices will be submitted to the State Food and drug administration before the first half of 2022, and it is expected to obtain the approval of the State Food and Drug Administration in the second half of 2022.

According to the frost Sullivan report, at present, there is no AI lung preoperative planning medical device approved in China, and there is only one product under development in China except infraoperate thorax planning.

In addition, the InferRead DR Chest for tuberculosis screening is expected, and clinical trials are expected to be conducted in China before 2021. The first third applications of medical devices were submitted to the SFDA in the first half of 2022, and the approval of the SFDA was approved in the first half of 2023. According to the Sullivan report, there is no AI tuberculosis diagnostic medical device approved in China, including four products, including the InferRead DR Chest.