VSA to Acquire HopeAI, Expanding into AI in Life Science

BEIJING – June 17, 2025 – TCTM Kids IT Education Inc. (Nasdaq: VSA) is making a play for the future of drug development. The company announced today a non-binding letter of intent (LOI) to acquire HopeAI Inc., a leader in artificial intelligence solutions for clinical development. This strategic move signifies VSA‘s bold step into the burgeoning AI-driven biopharmaceutical sector, bolstering its presence in intelligent healthcare and technological innovation.

Under the terms of the LOI, VSA proposes to acquire 100% of HopeAI’s equity, with the specific number of its restricted Class A ordinary shares to be determined, reflecting HopeAI’s valuation. VSA plans to provide essential information regarding the deal through press releases or SEC filings as the transaction progresses.

Founded in 2023, HopeAI is tackling some of the pharmaceutical industry’s biggest pain points in clinical trials: the time, expense, and complexity. By integrating comprehensive clinical data with cutting-edge statistical methods, the company aims to reshape and speed up drug development.

HopeAI’s proprietary platforms, PURE Evidence, SynthIPD, and CARA Design, offer sophisticated solutions for protocol design, trial simulation, and patient cohort optimization. The company has already shown impressive results, helping its pharmaceutical partners reduce clinical trial timelines by up to 2.5 years. Furthermore, its technology has facilitated up to a 20% reduction in Phase 3 trial sample sizes and a remarkable ability to respond to FDA feedback within 24 hours, showcasing significant potential to drive efficiency and regulatory compliance in the industry.

“This acquisition signifies a powerful competitive advantage for VSA in the AI space and holds deep strategic significance,” stated Henry Wang, CEO of VSA.

With pharmaceutical companies investing over $200 billion annually in clinical development, with an average trial taking nine years, HopeAI’s AI-powered platform presents a compelling solution. By significantly shortening the time and lowering the costs of bringing new drugs to market, HopeAI is positioned to spur innovation across the life sciences landscape.

Will Ma, CEO of HopeAI, commented, “This marks a major milestone for HopeAI’s mission to bring hope to patients by accelerating life-saving treatments.”

The completion of this transaction depends on customary steps, including due diligence, a definitive share purchase agreement, approval from VSA‘s board and shareholders, compliance with Nasdaq listing requirements, and other standard closing conditions. It is essential to acknowledge that the LOI is a non-binding agreement.

About HopeAI

Founded in 2023, HopeAI, under the leadership of Founder & CEO Will Ma, has assembled a leading research team with expertise encompassing clinical trial design and the highest level of insight from NVIDIA, and a former biostatistics director from the US FDA. As a Mayo Clinic Platform_Accelerate company, HopeAI benefits from access to state-of-the-art real-world data platforms, crucial for supporting robust clinical development.

In a testament to its impact, HopeAI has established commercial partnerships with some of the top pharma companies and innovative biotech firms, becoming a pioneer in the realm of AI-driven drug development.

About VSA

VSA is an emerging technology services company, focused on a broad array of biomedical applications, research and development, and online education. The company is committed to driving innovation in healthcare and biotech solutions through AI. VSA‘s mission is to empower individuals and organizations with intelligent systems, creating a smarter and more connected future.

Forward-Looking Statements

Certain statements herein are “forward-looking statements.” These statements use words like “anticipate,” “believe,” and other expressions that indicate future events or trends. These include the timing of the proposed transaction, the business plans and expectations of the parties, and VSA‘s projected results. These forward-looking statements are based on current information and may be subject to risk and uncertainty. Actual results could differ materially due to known and unknown risks. The company does not assume any duty to update these forward-looking statements.

Factors that could affect actual results include whether the terms of the LOI materialize into a definitive agreement, any resulting legal proceedings, the receipt of needed approvals, and other potential challenges, including those in the company’s filings with the SEC, including the Annual Report on Form 20-F for the fiscal year ended December 31, 2024, available on the SEC website at www.sec.gov. The public disclaims any obligation to update these forward-looking statements.

Non-Solicitation

This press release is not a solicitation for securities and will not constitute an offer to sell the securities of VSA or HopeAI.

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