According to IPO Morning News, recently, YESight(Suzhou) Medical Technology Co., Ltd (hereinafter referred to as ‘YESight Medical’) has completed tens of millions of yuan in Series A financing, led by Delian Capital, with the old shareholders of Bohang Capital continuing to increase, and Kaiser Capital acting as the exclusive financial advisor.
After this round of financing, YESight Medical will further accelerate the clinical registration and production of Scanning Laser Ophthalmoscope (SLO) and the research and development of various innovative ophthalmic optical devices. This is also the second consecutive round of financing completed in less than a year.
YESight Medical is an innovative ophthalmic optical device platform technology company integrating R&D, manufacturing, sales and AI big data research. The company is headquartered in Suzhou, China, and also has a research institute in Japan. At this stage, the team focuses on the research and development of ultra-wide-field confocal scanning laser ophthalmoscope technology , with the product specifications reaching the world's leading level; and based on the confocal scanning laser ophthalmoscope imaging technology and integrated circuit technology, it creates internationally advanced ultra-wide-field confocal scanning laser ophthalmoscope as well as a variety of innovative ophthalmological disease diagnostic and screening devices.
Taking ‘fundus camera’, the most important equipment in routine ophthalmological examination, as an entry point, breaking the monopoly of imported high-end ophthalmological equipment.
In the wave of innovation in the domestic ophthalmology track, the outstanding domestic innovative enterprises have already realised the leap from ‘running after’ with foreign enterprises to ‘running alongside’ or even ‘leading’. ‘This has provided clinicians and ophthalmology patients with more cost-effective solutions, making the technology truly beneficial to the public.
According to data from the National Health Commission and the National Bureau of Statistics, China has a large number of ophthalmic patients. The number of patients with refractive problems alone has exceeded 800 million people, plus the increasing incidence of cataract, glaucoma, macular degeneration, etc., the number of eye disease patients in China has exceeded 1 billion. As the most important equipment for routine ophthalmic examination and preliminary diagnosis, fundus camera will serve almost all ophthalmic patients in China, and has a broad market space in the future.
Application scene of fundus camera (Source: National Vision Health Report 2020)
The first domestic ultra-wide field confocal scanning laser ophthalmoscope validated by clinical trials
The traditional fundus camera is prone to leakage of fundus and peripheral lesions due to the clinical bottlenecks such as small field of view of fundus imaging (about 45°), high minimum pupil requirement (more than 3.3mm), poor optical penetration of LEDs (deeper part of the fundus can not be photographed), and unclear imaging of the fundus vasculature. In response to these clinical pain points, the ultra-wide field confocal scanning laser ophthalmoscope was born. Compared with the traditional fundus camera, the ultra-wide-field device has a clearer view and a wider field of view, which is the best tool for fundus diagnosis.
However, at present, China's fundus camera market is still dominated by traditional optical fundus camera technology, and is mostly occupied by overseas international brands such as Japan's TOPCON and Japan's CANON. As ophthalmologists' requirements for fundus imaging range and the clarity of fundus imaging images continue to improve, the demand for China's ultra-wide-field confocal fundus camera is growing steadily, but it is heavily reliant on overseas imports and expensive, with the current terminal admission price generally above 1.5 million.
The world's first ultra-wide field confocal scanning laser ophthalmoscope with electronic scanning mirror technology developed by YESight Medical has completely independent intellectual property rights, which has the features of wide field of view of fundus imaging, free of pupil dilation, strong penetration of refractive media, fast imaging speed, clear image, etc. It can effectively solve the clinical pain points of traditional optical fundus camera, and is expected to break the monopoly situation of high-end ultra-wide field confocal scanning laser ophthalmoscope technology overseas. It is expected to break the overseas monopoly of high-end ultra-wide field confocal scanning laser ophthalmoscope technology.
This SLO is also the first batch of clinically validated ultra-wide field confocal scanning laser ophthalmoscope in China. At present, the product has started clinical trials in China, led by the top ophthalmology hospitals in China and top PIs in the industry, and all performance indicators are comparable to those of imported products. From the data point of view, YESight Medical has achieved an ultra-wide field of 168° (113° of optical angle of incidence) for its single field of view. Its multi-spectrum confocal laser scanning imaging technology can completely cover the 10 layers of the retina, providing wider, more comprehensive and clearer colour photographs of the fundus and clinical data.
Global network of co-operation with Japan's top optical technology background team
The YESight medical team consists of domestic and international experts and engineers with advanced technology. The team's own engineering and R&D strength, international vision and experience, as well as its deep understanding of clinical needs, give the company the ability to continuously research, develop, produce, and innovate ophthalmic medical devices and equipment.
At present, the company has launched an exclusive strategic cooperation with a famous Japanese listed company in science and technology to jointly layout the domestic and international ophthalmic market. In addition, it has signed part of the product sales framework agreement with Japan's TOP3 optician group of companies, laying a solid foundation for the internationalisation of the company's products overseas.
Wu Haizhou, CEO of YESight Medical, said that YESight Medical has always been committed to realizing a society of eye health for all people through early diagnosis and treatment of eye diseases. The company has been developing rapidly since its establishment in 2020, and the team has created the ultra-wide field confocal scanning laser ophthalmoscope based on decades of advanced ophthalmic optical technology accumulated in Japan, breaking through the monopoly of imported high-end ophthalmic equipment. China's ophthalmology demand continues to release, domestic substitution sails, the company will continue to build clear picture quality, easy to operate, stable quality of high-end ophthalmic screening and diagnostic equipment, covering the fundus, anterior segment of the eye, the optic nerve, refractive and other ophthalmic diseases diagnosis of more than 90% of the field. We expect to help the industry develop through our advanced ophthalmic equipment technology.
Li Zhongbao, Vice President of Delian Capital, said that fundus disease is one of the largest irreversible blinding diseases, and fundus cameras are widely used in clinical fundus examinations. Due to the defects of ordinary optical fundus camera, such as small field of view angle, poor penetration ability, poor vision, etc., in recent years, the new ultra-wide-angle laser fundus camera has been rapidly released in the domestic market, which is basically an import monopoly. Based on the deep technical accumulation and rich industrial experience, the team from Japan's top ophthalmology company has developed the world's first SLO ultra-wide-angle confocal laser scanning ophthalmoscope based on electronic scanning lens, which has the advantages of both high performance and low cost, and it is the first SLO in China to do formal clinical work and PK with imported brands, and it has gained the recognition of a number of top PIs in the fundus field of vision, and we look forward to the early listing of the company's products, which will help China's eye disease screening and improve the quality of eye care. We look forward to the early launch of our products and contribute to the screening of eye diseases in China.
Lan Zhang, Partner of Boeing Capital, said that ophthalmology is one of Boeing Capital's key investment areas. We continue to be optimistic about the innovative R&D capabilities and global resources of our team, and are pleased to have the opportunity to invest in the early stage of the company and continue to invest in the current round. We look forward to the company launching several ophthalmic devices in the near future to benefit more patients.
