Tsingpai Technology completed an angel round of financing of tens of millions of yuan to acce

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(hereinafter referred to as "Qingpu Technology") announced the completion of an angel round financing of tens of millions of yuan. This round of financing was led by FreeS Fund, followed by Beijing Medical Robotics Industry Innovation Center (IMC) and Global Health Industry Innovation Center (GHIC). Beijing Companion Star Enterprise Management Consulting Co., Ltd. acted as the exclusive financial advisor.

Funds from this round of financing will be used to carry out the finalization of the photoacoustic clinical medical imaging system product, the research and development of the product's core devices and components, as well as the further expansion of the team's personnel.

Founded in 2019, the Clear Surge team was incubated by Tsinghua University's Tianjin Electronic Information Research Institute, Zhongguancun Zhiyou Research Institute, Tsinghua Fuzhou Data Technology Research Institute, and Tsinghua Channel Research Institute (Xiamen).

The company is dedicated to the research, development and clinical application of photoacoustic imaging technology and products. Based on the core technology of Photoacoustic imaging (PAI) from the Laboratory of Biophotonics, Department of Electronics, Tsinghua University, TsingPai has developed MarsonicsPIIP Photoacoustic Integrated Imaging System through the transformation of its achievements.

MarsonicsPIIP Photoacoustic Integrated Imaging System

Courtesy of the interviewee

Since its establishment, Qingpai Technology has owned dozens of core proprietary patented technologies, and has set up an industry-university-research cooperation platform with Tsinghua University and other universities, as well as a number of tertiary hospitals. The company's innovative technologies and products have also won a number of honors, such as "First Prize in the 10th 'Dongsheng Cup' International Entrepreneurship Competition 2022", "First Prize in the First Medical-Industrial Integration Innovation Competition of Tsinghua University ", "First Prize in the Final of the 4th China Medical Device Innovation and Entrepreneurship Competition Specialized in Human Precision Measurement" and so on.

The world's first high-precision spectral analysis technology, solving the problem of accurate detection of deep tissues

What is Photoacoustic Imaging (PAI)? What are the unique advantages of Photoacoustic Imaging (PAI) over other familiar imaging methods in the biomedical field such as MRI and CT?

First of all, the excitation and detection of physical signals in photoacoustic imaging is different from MRI and CT. Photoacoustic imaging technology is based on the photoacoustic effect, and the photoacoustic effect is the light caused by the vibration of the material effect. Specifically, when light irradiates the surface of a substance to generate heat, the heat causes the light-illuminated area to expand, which in turn transmits a pressure wave through the solid material, ultimately generating the photoacoustic effect.

Therefore, the photoacoustic imaging technology platform combines the advantages of both optical and ultrasound imaging technologies, which not only has the advantages of multifunctional imaging with high contrast and spectra, but also has the advantages of high penetrability, non-invasiveness, and multi-scale and multimodal imaging.

Among them, functional imaging is the most important feature of photoacoustics, but the problem of spectral staining occurs in the computational process of typical functional imaging. This directly affects the computational measurements of functional imaging and hinders the promotion of photoacoustic imaging.

Relying on the cutting-edge technology of Tsinghua University and the innovative R&D capability of the company's team, PIIP has innovatively solved the computational problems in the process of accurate detection of tissue components in photoacoustic functional imaging through its self-developed and world's first high-precision spectral resolution technology.

MarsonicsPIIP photoacoustic integrated imaging system can effectively perform structural and functional imaging of biological tissues, which can be used for photoacoustic imaging of small animals, large animals, isolated tissues, and also can be used for disease detection and diagnosis of superficial parts of the human body (3-4cm), such as for the industry's imaging difficulties - hemoglobin, blood oxygen, Lipids and collagen, which are difficult to image in the industry, can be accurately and quantitatively detected and imaged.

In addition, in terms of 3D imaging, MarsonicsPIIP can provide a level of 3D images comparable to 7.0T MRI quality, an innovative translation of high performance imaging quality at a lower cost. This not only provides a new way to study the morphology, structure, physiology, pathology, and metabolic function of biological tissues, but also facilitates the further promotion of this emerging technology and product in the market.

Image levels of the MarsonicsPIIP photoacoustic integrated imaging system

Photo by the interviewee

According to Wang Xiaojun, CEO of Qingpu Technology, MarsonicsPIIP can also be applied to gene expression, stem cell immunity, brain science, as well as temperature detection and neuroimaging. And, with the further maturation and landing of the technology, the platform will also provide more and more valuable information for the diagnosis, treatment and efficacy evaluation of more clinical diseases.

The core components are fully self-developed，

The cost is only one-third of the import

At present, the hotspots of interest in the photoacoustic imaging industry are mainly focused on the landing application of the technology in the clinic, as well as scientific research in the fields of life sciences, biotechnology, pharmacy, clinical and preclinical.

However, photoacoustic imaging is still unable to achieve the same degree of popularity as MRI, CT and other imaging technologies, the main application difficulty is that the current market products and core components are mainly dependent on imports, so the cost is higher, the learning cycle of this equipment is also longer, the operation is also more complex.

Originating from Tsinghua University, nearly half of the company's core R & D members are also from Tsinghua University. With the team's comprehensive R&D capabilities in multiple disciplines and fields, as well as its successful experience in market management and commercialization, TsingPower Technology has targeted to solve the above industry and technology pain points.

Self-developed core components, DAQ and laser systems

Provided by the interviewee

By giving full play to the technical advantages of the R&D team in the field of optoelectronics and electronic information, Qingpu Technology insists on independent research and development of core devices and components, and constantly compresses the cost of expensive imported equipment.

The cost of MarsonicsPIIP core devices and components is only one-third of imported ones. This not only accelerates the progress of domestic substitution and promotes the development of China's photoacoustic technology, but also provides domestic and foreign researchers in the field of photoacoustics with high-quality and inexpensive component products and supporting services.

In addition, in order to reduce the difficulty of learning and operation of new technology and equipment, Qingpu Technology has developed three-dimensional photoacoustic imaging technology. This technology can provide more intuitive and easy-to-operate imaging system products, so that researchers and medical experts can quickly master and use them.

Set up cooperation platforms with many tertiary hospitals to accelerate the clinical landing of the equipment

According to research data from IMARC Group, an international consulting firm, the global photoacoustic imaging market size was $71.21 million in 2021, and this figure is expected to grow to $183.7 million by 2027, at a CAGR of 15.70%. However, the future market of photoacoustic imaging will not only face this number, but with its non-invasive, non-radiation, low-cost technology advantages for the nearly 100 billion global imaging market.

In this regard, Qingpai Technology has also accelerated the product transformation of the technology by cooperating with research institutes and tertiary hospitals to carry out industry-academia-research cooperation.

TsingPower and Tsinghua Straits Research Institute (Xiamen) have established the Optoacoustic Biomedical Imaging Research Laboratory of Tsinghua Straits Research Institute. Based on the platform of Tsinghua Straits Institute, Qingpu Technology provides professional, high-performance photoacoustic imaging products and supporting technical services for researchers and clinical experts in related fields. This not only reduces the construction time and cost of the photoacoustic imaging system, but also establishes a leading photoacoustic imaging technology ecosystem in China, helping researchers and clinical experts to accelerate their research programs and save time and equipment costs.

In addition, Qingpu Technology has also set up an industry-academia-research cooperation platform with a number of tertiary hospitals across China, such as Beijing Tiantan Hospital, Beijing Tsinghua Changgeng Hospital affiliated with Tsinghua University, Beijing Friendship Hospital, and Beijing Anzhen Hospital. This not only accelerates the clinical application of the company's photoacoustic imaging products, but also provides innovative solutions in scanning detection and diagnosis of neurosurgery, vascular diseases, and breast diseases.

Clear Surge Photoacoustic/Ultrasonic Multimodal Medical Imaging System (Collaborator: Beijing Tiantan Hospital)

Interviewer's photo

As the lead investor of this round of financing, Feng Li, founding partner of Fengrui Capital (FreeS Fund) and Gang Li, head of early stage projects, said:

Biomedical imaging equipment has been developing in the direction of upscaling, 2D to 3D, structure to function, single spectrum to hyperspectral. Photoacoustic imaging technology combines the characteristics of optical and ultrasound imaging, with high-precision three-dimensional imaging, functional imaging, molecular imaging, non-destructive and non-invasive features, providing a new perspective for in vivo imaging, and providing clinicians with richer image information of biological tissues, which is in line with the general trend of the development of precision medicine and biomedical imaging equipment. With the algorithmic innovation as the core, the core hardware independent research and development strength, and close cooperation with clinical resources, the commercialization idea is clear and traceable, and it is an excellent and pragmatic entrepreneurial team. We firmly believe that Qingpu can lead the development of photoacoustic imaging.

As a strategic investor, Director Wang Jingjing of Global Health Industry Innovation Center (GHIC) said:

Precision medicine is an important trend in the future development of clinical medicine, and the value and change that a new medical imaging modality can bring to clinical medicine is huge. Although it usually takes a long time for such value and change to be realized, GHIC believes in this trend of technology helping the development of medicine, and is optimistic about the technical advantages that Qingpu Technology has accumulated in this field for many years. In the future, GHIC will assist Qingpu Technology to explore more clinical application scenarios, provide professional platform support, help and accelerate the industrialization of Qingpu Technology, and work with Qingpu Technology to promote the innovation process from technology to clinic.

As a strategic investor, Wang Binbin, Managing Director of Beijing Medical Robotics Industry Innovation Center (IMC), said:

High-end medical imaging equipment is the national key support and development direction, Qingpu Technology has a strong innovation ability and independent research and development strength, in the field of photoacoustic imaging has a very strong potential for development. It is a key entrepreneurial innovation team supported by IMC. The Innovation Center provides a high-end medical device CDMO platform to provide a full range of services and empowerment for Beijing Qingpu, helping the team to focus on technical product development and clinical application, accelerating the team's development, and realizing the Chinese team's breakthrough and overtaking in the field of photoacoustic medical imaging.

About Fengrui Capital

FreeS Fund is committed to mobilizing all possible funds, technologies and resources to invest in outstanding start-up companies and help them grow into great companies with long-term social and commercial value. Fengrui Capital focuses on early-stage and early-growth investment, with key investment directions including consumer/TMT, hard technology, and biomedicine. Fengrui Capital is driven by research and encourages innovation. After continuous exploration, Fengrui Capital has formed a self-contained investment strategy-looking for unique investment opportunities in interdisciplinary disciplines.

About the Global Health Industry Innovation Center (GHIC)

The Global Health Industry Innovation Center was initiated and established by Beijing Tsinghua Institute of Industrial Development and Research. It aims to connect global medical innovation technologies and resources, strengthen the transformation of scientific and technological achievements, help the effective implementation and development of innovative technologies such as medical devices, diagnostics and services, and provide comprehensive support for early and medium-term projects.

About Beijing Medical Robot Industry Innovation Center (IMC)

IMC is a collaborative innovation platform for medical robotics technology and industry established under the guidance of the government. Aiming at the field of high-end medical devices, IMC aims to tap into clinical needs and develop technological innovation, and is committed to becoming a trusted partner of the industry, to create a first-class platform for industrial innovation, to have a sound mechanism for cooperation between doctors and workers and a path for product transformation, to build a transformation chain for industry, university and research, to provide CDMO (contract r & D & Production) and innovation empowerment services for high-end Medical Device Enterprises, scientific research institutes and medical institutions.

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