TCTM Kids IT Education Inc. (Nasdaq: VSA) (the “Company” or “VSA”) today announced that it has entered into a non-binding letter of intent (“LOI”) to acquire HopeAI Inc. (“HopeAI”), a leading artificial intelligence company specializing in AI-powered clinical development. This strategic move is expected to significantly advance VSA’s expansion into the AI biopharmaceutical sector and strengthen its presence in intelligent healthcare and technology innovation.
Pursuant to the LOI, the Company agreed to acquire 100% of the equity interests of HopeAI in exchange for a certain amount of restricted Class A ordinary shares of VSA to be determined based on the valuation of HopeAI. As the transaction proceeds, the Company will publicly disclose required information either through press releases or SEC filings, as appropriate.
Founded in 2023, HopeAI is an emerging enterprise dedicated to solving key challenges pharmaceutical companies face in clinical trials, including lengthy durations, large sample sizes, slow patient recruitment, and high costs. The company optimizes trial design and accelerates development timelines by integrating comprehensive and up-to-date clinical evidence with decades of statistical innovations.
HopeAI’s proprietary PURE Evidence, SynthIPD, and CARA Design platforms provide intelligent and efficient solutions across crucial trial stages such as protocol design, trial simulation, and patient cohort optimization. Its platform has successfully helped partner pharmaceutical companies reduce clinical timelines by up to 2.5 years, reduce Phase 3 trial sample sizes by up to 20%, save over 100 patient samples, and respond to FDA feedback within 24 hours—substantially improving drug development efficiency and regulatory communication speed.
Henry Wang, CEO of VSA, stated, “HopeAI is highly aligned with our vision for technological innovation and industry development. This acquisition will create a powerful competitive advantage for VSA in the AI space and holds deep strategic significance.”
In 2024 alone, pharmaceutical companies spent over $200 billion on clinical development, with average clinical development taking 9 years. HopeAI’s AI-driven platform is poised to dramatically shorten trial duration, reduce costs, and accelerate time-to-market for new drugs, helping to drive innovation across the life sciences sector.
Will Ma, CEO of HopeAI commented, “the signing of this letter of intent marks a major milestone in HopeAI’s journey. It represents a pivotal step toward accelerating our growth and expanding our market share in the AI pharmaceutical industry. Our mission is to bring hope to patients by accelerating the development of life-saving treatments through AI.”
Completion of the transaction contemplated by the LOI is subject to due diligence investigations by the relevant parties, the negotiation and execution of a definitive share purchase agreement, satisfaction of the conditions negotiated therein including the approval of the Company’s Board of Directors and shareholders, satisfaction of Nasdaq listing requirements, and the satisfaction of other customary closing conditions. There can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated. Further, readers are cautioned that those portions of the LOI that describe the proposed transaction, including the consideration to be issued therein, are non-binding.The post VSA Signs Letter of Intent to Acquire HopeAI first appeared on AI-Tech Park.