On Sept. 21, the high-profile AI digital doctor platform company Jiankun (Beijing) Network Technology Co., Ltd. submitted a prospectus to the Hong Kong Stock Exchange for listing on the Hong Kong main board. JPMorgan Chase & Co, Bank of America Securities and Bank of China International Securities are its co-sponsors.
According to the prospectus, Jukun Technology was founded in 2017. As a medical AI high-tech company, Jigun Technology independently developed and pioneered the digital doctor product portfolio, providing disease-centered, comprehensive, end-to-end artificial intelligence medical imaging platform, including "digital heart", "digital brain", "digital chest", "digital abdomen", "digital muscle bone" and other digital doctor products, analyzing medical imaging data, covering most key treatment areas. Assist human doctors in the whole clinical process of disease screening, diagnosis, treatment selection and planning. Digital doctors empower human doctors, which can greatly improve the diagnostic efficiency from several times to ten times, improve the accuracy and consistency, and bring more clinical value. Jukun digital doctor products have been widely used by more than 1200 hospitals in China.
Jukun Digital Doctor platform provides intelligent diagnosis and treatment for heart disease, stroke, cancer and other most critical diseases of human beings. At present, the Jukun digital doctor platform includes 12 products and 25 candidate products, and has obtained a number of medical device registration certificates such as Class III and Class II. According to the burning knowledge report, according to the number of medical device registration certificates obtained by the State Drug Administration, Jukun ranks first among the artificial intelligence medical imaging companies in China.
With rich product lines and large-scale high-quality hospital customers, Jukun Technology has won the favor of a large number of star capital. According to the prospectus, Jukun's science and technology investors include world-renowned capital Goldman Sachs Group Capital Management, Chunhua Capital, Sequoia Capital China Fund, Yuanyi Capital, Huagai Capital, Wuyuan Capital, Chuangshi partner Capital, QiMing Venture Partners, Bank of China International, Jianyin International, China Reinsurance, CICC Pucheng, etc., with a total financing of nearly 2 billion yuan.
The IPO financing will continue to be used for R & D investment, registration application and clinical trials of digital doctor product portfolio platform, as well as commercial promotion and strategic cooperation planning, and speed up the continuous research and development of other digital doctor product portfolio and digital human technology platform.
Ten years later, the global AI market for medical imaging may reach 1 trillion yuan, and the revenue of Jikun has achieved explosive growth.
According to the prospectus, medical imaging data account for more than 80% of all clinical data, which is the cornerstone of clinical diagnosis, disease treatment and health management. With the growing demand for medical imaging in the provision of medical services, the amount of medical imaging data in China is growing at an annual rate of about 30%. In sharp contrast, Chinese doctors are growing at a rate of about 6% a year. Due to the long-term and expected further shortage of doctors in China, the national health care system is facing great challenges and development bottlenecks. Medical image analysis is complex and time-consuming because it requires doctors to combine multi-layer image data with fine decision-making processes. Due to the uneven distribution of medical resources in China, the analysis of medical images by inexperienced and inequipped doctors in many areas is not accurate and inefficient, which makes the challenge more severe. The application of artificial intelligence is expected to solve these complex problems. The global market for artificial intelligence medical imaging solutions is expected to grow exponentially from less than $1 billion in 2020 to $64.6 billion in 2025, with a compound growth rate of 147.7 per cent. It is expected to reach a further $166.5 billion in 2030, and the market will expand nearly 170times in 10 years. The global penetration rate of artificial intelligence medical images is expected to increase from about 0.2% in 2020 to about 13.1% in 2025 and to about 33.8% in 2030, indicating that the global market for artificial intelligence medical imaging is booming.
As a global high-profile AI digital doctor platform company, Jukun Technology continues to lead the AI medical industry. For the six months ended June 31, 2020 and 2021, the company's revenue was 24.77 million yuan and 52.62 million yuan respectively, and the gross profit was 20.68 million yuan and 44.33 million yuan respectively. In the same period, the gross profit margin was 83.5% and 84.2%, respectively. The revenue of Junkun in the first half of 2021 exceeded 50 million, an increase of 680% over the same period last year.
Four years of continuous launch of popular products, digital human body technology platform to build a strong product research and development capability
Since its establishment in 2017, Sikun Technology has continuously launched industry breakthrough products, including 37 products, including digital heart, digital brain, digital chest, digital abdomen, digital muscle bone, and so on, covering more than 80% of the medical imaging use scenes. won praise from customers and partners.
CoronaryDoc, a digital coronary artery AI product, has obtained three types of Chinese NMPA registration certificates and EU MDR CE certification, rapidly occupying the market and becoming a clinical entrance for cardiovascular disease diagnosis. the digital brain product pipeline covers NCCT, CT and CTP one-stop solution for stroke diagnosis, becoming the first known artificial intelligence solution in China to provide full-path and multi-mode artificial intelligence solution for cerebrovascular disease screening, diagnosis and treatment selection and planning. The digital chest product portfolio includes LungDoc for auxiliary diagnosis of pulmonary nodules and PneumoniaDoc for pneumonia diagnosis. This product is helpful to understand the incidence of critical and critical diseases of novel coronavirus patients and the results of admission triage. Released in European Respiratory Journal, the impact factor is as high as 12.339. Digital chest is rare to detect and diagnose six diseases with a single CT scan, including pulmonary nodules, pneumonia, emphysema, calcification score calculation, rib fractures and bone mineral density assessment. LiverMRDoc of Digital abdomen product portfolio is the only artificial intelligence assistant software for liver disease diagnosis in China. Due to many technical challenges related to liver sequence recognition, segmentation and reconstruction based on hepatic vessels and liver segments, diagnosis of liver diffuse diseases, multi-sequence lesion detection and lesion sign output, artificial intelligence MRI mode is much more complex than CT mode; digital musculoskeletal product pipeline includes BoneDoc, SpineGo-C, SpineGo-L and BoneAgeDoc.
It has been disclosed that Jukun products have obtained one SFDA Class III medical device registration certificate, ten SFDA category II medical device registration certificates and two MDR CE certification. According to the burning knowledge report, according to the number of medical device registration certificates of the State Drug Administration, Jukun Technology ranks first in China's artificial intelligence medical imaging company.
With multi-disciplinary management team and leading technology team, Jukun Technology has established a world-class proprietary digital human artificial intelligence technology platform, thus building a leading R & D strength in the industry.
The platform service of digital doctor covers the whole process and profoundly changes the way of medical work.
Medical imaging technology has become the basic method and important basis of clinical diagnosis, treatment and related scientific research. it is not only the most important source of information for disease screening and diagnosis, but also an important means to assist clinical disease diagnosis and treatment.
It is reported that the digital doctor platform can not only improve the diagnostic accuracy and efficiency of radiologists, but also expand the application of artificial intelligence from the imaging department to the clinical department, helping doctors to improve their scientific research ability and multidisciplinary diagnosis and treatment ability. In addition, the digital doctor platform can also comprehensively reshape monitoring, prevention, medical treatment, treatment, medication, rehabilitation and other diagnosis and treatment and health management links. Aiming at the one-stop and full-flow clinical research platform of the department, SK artificial Intelligence Research Laboratory, through three modules, the data set is transformed into data production, and the whole process of project management, multi-dimensional data governance and intelligent analysis is realized. Jukun developed and launched a fully integrated SK artificial intelligence education and training laboratory, which enables doctors to realize online learning, intensive exercises, real-time feedback and intelligent evaluation, and effectively improve the effectiveness of resident training in physiology and anatomy, lesion imaging, imaging diagnosis and differential diagnosis.
When Jukun Technology established the AI product research and development, it prospectively took "perfect combination with the doctor's workflow" as the most important consideration, and achieved the improvement of the whole process of clinical diagnosis, and opened up the whole process of image intelligent post-processing, AI disease diagnosis, AI report and printing. The digital doctor platform of Jukun Technology can automatically capture CT images, perform 3D reconstruction, interpretation, and then output standardized reports. Then the doctor only needs to confirm the results given by AI, or modify it according to his own judgment, and there is no need to confirm it step by step. The whole process can be perfectly integrated into the work flow of doctors, improve the work efficiency and quality of doctors, and really promote the change of image doctors in work content, work efficiency, work flow and work mode.
Users throughout the country at all levels of medical institutions, more than a thousand hospitals daily use of high viscosity
At present, Sikun Technology has established a strong cooperative relationship with the top experts and hospitals in China, including but not limited to Beijing Friendship Hospital, Peking Union Hospital, Ruijin Hospital, Huaxi Hospital, Xuanwu Hospital and Fuwai Hospital. Jukun's digital doctor products are trained and verified by experienced doctors in these top hospitals, and through well-designed clinical trials to verify the effectiveness and safety of digital doctor products.
Jukun products have been proved to have the commercial ability to quickly infiltrate hospitals at all levels. After being commercialized, Jukun products are favored by medical institutions at all levels throughout the country because of their good performance and strong recommendations from top experts and top hospitals. According to the Burning knowledge report, Jukun Technology has the broadest hospital coverage among China's artificial intelligence medical imaging companies. At present, Jukun digital doctor products have been adopted and used in more than 1200 hospitals in China, including about 80 per cent of the top 100 hospitals and more than 30 per cent of third-tier A hospitals. The installation of this scale also increases the generalization, robustness and accuracy of Jukun digital doctor products.
Top multi-disciplinary talent team to promote the rapid and sustainable growth of Sikun
According to the prospectus, the founders of Jikun Technology, Mr. Mao Xinsheng and Ms. Ma Chune, are both well-known scientists and business leaders in the industry, with a great deal of experience in R & D, managing large teams and promoting technological innovation in well-known multinational corporations.
Jukun's R & D team has extensive experience in cutting-edge artificial intelligence technology, and its members have won championships in a number of world-class artificial intelligence competitions, including Kaggle, AIChallenger and NeurlPS. Jukun's clinical team is made up of senior medical professionals. Through seamless cooperation, Sikun's multi-disciplinary talents can effectively combine artificial intelligence and medical expertise, laying a solid foundation for the continued success of Sikun.