Leju Finance Deng Rufei On August 8, Brainstorming Aurora Medical Technology Co., Ltd. (hereinafter referred to as “Brainstorming Aurora”) submitted to the Hong Kong Stock Exchange. CICC and SPDB International are its co-sponsors.
As of 2021, 2022, and March 31, 2023, the company achieved operating income of RMB 2.299,000, RMB 11.291,000, and RMB 10.564 million, respectively. Among them, the company's year/period losses were 698 million yuan, 502 million yuan, and 954.61 million yuan, respectively.
Brainstorming Aurora is a pioneer and leader in the digital therapy market for cognitive impairment in China. According to Frost & Sullivan, Brainstorming Aurora is the first company in China to combine brain science with advanced artificial intelligence (“AI”) technology to develop medical-grade digital therapy products for cognitive impairment. According to Frost & Sullivan, Brainstorming Aurora is the company with the highest commercial revenue for medical-grade cognitive impairment digital therapy products in the Chinese market in 2022. The product pipeline covers the assessment and intervention of a wide range of cognitive impairment induced by vascular diseases, neurodegenerative diseases, mental illness, and developmental defects in children.
According to Frost & Sullivan, Brainstorming Aurora's core product, the Brain Function Information Management Platform Software System (“System”), is the first digital therapy product for cognitive impairment to receive regulatory approval in China.
According to Frost & Sullivan, in terms of revenue in 2022, the Brainstorming Aurora system enjoys the largest market share among medical-grade digital therapy products for cognitive impairment in China. As of the last practical implementation date, the system has been included in the provincial health insurance reimbursement catalogue for 30 provinces in China. Brainstorming Aurora is also the first sponsor of a project initiated by the National Health and Health Commission. The mission under this project is to help hospitals establish cognitive centers in more than 2,100 public hospitals across the country and promote the development of the digital therapy market for cognitive impairment in China.
As of the last practical date, the system has commercialized eight indications for the four main types of cognitive impairment, and is developing another 21 indications for cognitive impairment. As of the last practical date, there are also three more regulatory-approved products and six candidate products at various stages of pre-clinical and clinical development.