Beijing Airdoc Technology Co., Ltd. announced that the Company recently completed the clinical trial of its core product Airdoc-AIFUNDUS (2.0), an AI-based auxiliary diagnosis Software as a Medical Device ("SaMD") designed for multiple indications. With the coverage of indications expanded from diabetic retinopathy covered by its previous version to hypertensive retinopathy, retinal vein occlusion and age-related macular degeneration ("AMD"), Airdoc-AIFUNDUS (2.0) presented an outstanding sensitivity and specificity for these four diseases, further improving from the sensitivity of 91.75% and specificity of 93.10% demonstrated by Airdoc-AIFUNDUS (1.0) which was approved by the National Medical Products Administration of China (the "NMPA"). This serves as a strong testament to the Company's competitive edges in technology as it is able to continue optimizing its algorithms for better performance.

Having such clinical trial results, the Company is now preparing to apply to the NMPA for an updated Class III medical device certificate for the new indications. Airdoc-AIFUNDUS (2.0) is the first AI-based auxiliary diagnosis SaMD for expanded multiple indications in China that has completed the clinical trial and thus is ready for the application of the NMPA registration, allowing the Company to not only increase its application in more clinical departments going forward but also gain a head start among competition. As the population is ageing in China, the prevalence of chronic diseases and eye diseases continues to rise.

It has created a massive yet unmet clinical demand for effective screenings of these diseases due to the imbalance between large patient populations and limited medical resources. The Company's Airdoc-AIFUNDUS (2.0) targets to cover a large patient base while there is only a very small number of experienced retinal doctors in China. Hypertensive retinopathy is a possible complication of having hypertension and considered to be one of the most important factors to detect and monitor severe hypertension.

As one of the most common chronic diseases in China, hypertension has been suffered by 245 million Chinese while the control rate is only less than 20%, according to the Annual Report on Cardiovascular Health and Diseases in China (2021). Retinal vein occlusion, also known as "eye stroke", is a common retinal vascular disease with central retinal vein occlusion often occurring concurrently with cerebral ischemic stroke. Cerebral stroke (commonly known as stroke) is the leading death cause in China, according to a research paper jointly published on the Lancet by the Chinese Center for Disease Control and Prevention and the University of Washington's Institute for Health Metrics and Evaluation in 2019.

In addition, AMD is one of the major causes of visual impairment among people over the age of 50. With hypertensive retinopathy, retinal vein occlusion and AMD being included by Airdoc-AIFUNDUS (2.0), the product, once approved, can not only assist physicians in the departments of cardiovascular, neurology and ophthalmology with detection and diagnoses of relevant diseases, but also facilitate continuous monitoring of the clinical effects of relevant drugs, both of which are expected to significantly increase the product's potential penetration in hospitals as well as its sales opportunities and market size.