Chinese medical imaging start-up faces twin hurdles in US market for coronavirus screening amid political row
- Infervision has repurposed its analytical software for lung cancer analysis since February to help fight the Covid-19 pandemic
- Beijing-based start-up, backed by private equity funds, is hoping to crack the US market as infection and death toll increase
Having deployed its system in 10 overseas markets, the Beijing-based company has yet to crack the US market, restrained by regulatory barriers and a war of words between officials about the source of the worst pandemic in a generation.
“It is understandable that countries have different thinking on what is the best clinical pathway to fight the disease, but I do think a lack of trust and the very complicated relationship has played a role,” said Chen Kuan, founder and CEO of the five-year-old start-up, a University of Chicago graduate.
The company epitomises the hurdle for Chinese entrepreneurs in the US as relations between the two economic powerhouses have deteriorated over the past two years, disrupting global trade and raising suspicion at both ends. The cost to US-China trade could be US$600 billion by 2021, according to a Bloomberg estimate.
President Donald Trump had until recently referred to the coronavirus as the “Chinese virus”, after China’s foreign ministry accused the US army of bringing it to Wuhan, without providing any evidence. Infervision is keen to contribute its services as the US becomes the focus of the pandemic with more than 430,000 cases and at least 14,700 deaths.
“We have had some discussions with officials including the US Food and Drug Administration, but they have not led us to anywhere yet,” said Chen, whose company is backed by investors including Qiming Venture Capital and Sequoia Capital. “I hope our system could be of use, especially in New York.’’
Having put all of its close to 200 research and development specialists to work just before the Lunar New Year, Infervision has repurposed its analytical software for lung cancer diagnosis to help doctors screening patients with suspected Covid-19 disease.