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Broncus Holding Corporation, 02216.HK - Company Profile
Chairman	Michael Yi Wei ZHAO
Share Issued (share)	526,000,000
Par Currency	U.S. Dollar
Par Value	2.5E-5
Industry	Medical Equipment & Services
Corporate Profile	Business Summary: The group is a medical device company focused on the development of interventional pulmonology products. Performance for the year: The group’s revenue decreased from US$8.1 million for the year ended December 31, 2019 to US$3.3 million for the year ended December 31, 2020. Business Review Founded in 2012, The group is a pioneer in the field of interventional pulmonology, providing innovative lung solutions in China and globally. Leveraging the group’s whole lung access navigation technology and encompassing navigation, diagnosis and treatment, the group’s integrated interventional pulmonology platform addresses the pain points of the existing diagnosis and treatment paradigms and significant unmet medical needs for lung diseases by improving the diagnosis and treatment effects of lung cancer and COPD. According to Frost & Sullivan, the five-year survival rate of lung cancer is comparatively low, being 19.7% in China (from 2012 to 2015) and 19.4% in the U.S. (from 2009 to 2015). The early diagnosis rate is also low with only 11.0% for Stage I lung cancer. The diagnosis rate of COPD is only 27.2% in China and 68.6% in the U.S. and the control rate of COPD is 21.1% in China and 58.5% in U.S. For late-stage COPD patients, currently available treatment options are limited as clinical research results indicated that improvement in exercise capability was reported in only 2% of patients after 24 months of standard medical treatment and none reported improved health-related quality of life. As of the Latest Practicable Date, the group had 17 products and major product candidates under various development stages as set forth in the pipeline chart below. the group’s Core Products are Inter Vapor and RF-II. Inter Vapor is the world’s first and only thermal vapor energy ablation system to treat lung diseases including COPD and lung cancer, according to Frost & Sullivan. RF-II is a radiofrequency ablation system used in conjunction with a disposable lung radiofrequency ablation catheter and the only radiofrequency ablation system that specifically targets lung cancer. As of the Latest Practicable Date, the group had 132 and 60 patents and patent applications related to Inter Vapor and RF-II, respectively. There is no assurance that the group will ultimately be able to develop and market the group’s Core Products successfully. Led by the group’s experienced management team with an average of over 20 years of experience in designing, developing and commercializing medical devices, the group believe that by leveraging on their expertise, The group is well positioned to capture the commercial opportunities in the large and fast-growing market for the lung disease treatment with a focus on chronic obstructive pulmonary disease (“COPD”) and lung cancer in China and globally. the group also benefit from the group’s stable and dedicated senior management personnel with complimentary background and expertise. Members of the group’s board and management team have experience in commercializing medical devices such as peripheral vascular intervention products, and the group’s transcatheter aortic valve replacement systems in China, the U.S. and Europe. The group is backed by a number of large institutional investors focused on the healthcare sector, such as Qiming Venture Capital, DiNovA Capital, LAKE Bleu Capital and Fountain Vest, and strategic investors including Intuitive Surgical, a global technology leader in robotic-assisted, minimally invasive surgical platforms and diagnostic tools listed on the Nasdaq Stock Market (NASDAQ: ISRG). Under the leadership of the group’s management team and with the support of the group’s investors, the group have successfully developed the world’s first and only real-time image whole lung access augmented reality navigation system, which enabled us to build an integrated product portfolio for lung disease diagnosis and treatment supported by the navigation system. the group’s whole lung access navigation system enables access to any part of the entire lung, both inside and outside of the airways, based on which The group is able to develop innovative medical devices and solutions to transform the diagnosis and treatment paradigms of lung diseases. the group’s LungPoint ATV System, also known as LungPro in the mainland of China or the Archimedes System outside the mainland of China (the “Archimedes System”)1 is the world’s only navigation system capable of whole lung access augmented reality real-time image navigation, according to Frost & Sullivan. Fully integrated with the group’s lung navigation system, the group offer a comprehensive portfolio of industry-leading interventional diagnostic and therapeutic products. the group’s Inter Vapor system (the “Inter Vapor”) is the world’s first and only thermal vapor energy ablation system to treat lung diseases including COPD and lung cancer, according to Frost & Sullivan. The group is also developing RF Generator + RF Ablation Catheter (“RF-II”), a radiofrequency ablation system used in conjunction with a disposable lung radiofrequency ablation catheter and the only radiofrequency ablation system that specifically targets lung cancer. the group have also developed a pulmonary surgery marker, H-Marker, to mark the location of the lung nodule to achieve precise positioning during surgical pneumonectomy. the group also offer a variety of diagnostic medical consumables. the group’s diagnostic solutions, including the group’s diagnostic medical consumables and the group’s navigation systems, facilitate the early diagnosis and treatment of lung diseases, which could in turn help increase survival rates for patients. the group believe that the group’s three-in-one pulmonology platform which delivers the features of navigation, diagnostics and treatment with high accuracy, minimal side effects and lower costs has created high entry barriers to market followers and resulted in high switch cost for doctors or patients, thereby strengthening the group’s market position in the interventional pulmonology medical device space in China and globally. The group have commercialized a number of products since 2009. Nonetheless The group is still recording a net loss due to the group’s ongoing global commercialization efforts and R&D investment in the group’s product candidates. The production level of the group’s commercialized products is low during the Track Record Period primarily because the group started commercialization of such products in China until the group acquired sufficient funding through Series A Financing completed in 2018 and the Archimedes System was not approved by the NMPA until October 2017 in China which strategically is a major market for us with large patient populations of COPD and lung cancer. the group’s LungPoint and Archimedes System are innovative products which require time to educate the group’s target market. In addition, the lack of treatment consumables also limited the penetration of the navigation system into the market. With the launch of the treatment products such as Inter Vapor and RF-II for the treatment of lung cancer, doctors and physicians shall be able to provide more treatment services to the patients which will allow them to understand the advantages of the group’s products and increase sale volume. the group’s trained sales and marketing team has been interacting with the distributors, doctors and customers to educate them about, and train them in the use of, the group’s products, and the demand has been on the rise before the COVID-19 pandemic. Prospects: The group plan to execute the following strategies to achieve the group’s vision and mission. • Continue to enhance global commercialization of the group’s products by cultivating market needs, raising patient awareness and taking education initiatives • Expand the group’s international R&D team to enrich the group’s intellectual property pipeline and achieve rapid product iterations to facilitate the group’s vertical and horizontal expansions • Increase spending on artificial intelligence and machine learning to upgrade and optimize solutions for patients with lung diseases • Selectively partner with and invest in key players along the healthcare supply chain

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