Lunit Passes Preliminary Review for KOSDAQ Listing

[Asia Economy Reporter Chunhee Lee] Medical artificial intelligence (AI) company Lunit announced on the 22nd that it has received approval from the Korea Exchange for preliminary review for listing on the KOSDAQ market. NH Investment & Securities NH Investment & Securities is in charge of underwriting the listing. Lunit plans to submit a securities registration statement within the first half of the year and accelerate its listing.

Lunit is a medical imaging diagnosis and treatment platform development company jointly founded in 2013 by deep learning experts to conquer cancer through AI. Its representative products are the AI imaging analysis solution for cancer diagnosis, 'Lunit INSIGHT,' and the AI biomarker platform for cancer treatment, 'Lunit SCOPE.'

Lunit's core competitiveness lies in AI. More than half of its total workforce consists of research and development (R&D) personnel, and it has formed an advisory group of experts in medicine and AI to add weight. Based on over 5 million medical data cases and more than 120 deep learning platform technology patents, Lunit is evaluated to have established an overwhelming entry barrier approaching 100% diagnostic accuracy. Through this, Lunit succeeded in obtaining AA ratings from all evaluation agencies for the first time among domestic healthcare companies in the technology evaluation for KOSDAQ technology special listing.

Additionally, in November last year, Lunit obtained formal approval from the U.S. Food and Drug Administration (FDA) for its AI emergency disease automatic classification solution 'Lunit INSIGHT CXR Triage' and breast cancer detection solution 'Lunit INSIGHT MMG.' In December, it also acquired MDSAP certification, a single audit program for medical devices in five countries including the U.S., Canada, Japan, Australia, and Brazil, continuing its efforts to expand overseas markets.

Alongside this, Lunit has formed partnerships with global major medical device companies such as GE Healthcare, Philips, and Fujifilm, supplying products to over 600 medical institutions in more than 40 countries worldwide. It is also accelerating its biomarker business by signing an exclusive business contract with Guardant Health, the global leader in liquid biopsy.

Lunit plans to use the funds secured through the listing as operating capital for R&D of AI products and global market development, laying the foundation for sustainable growth.

Seobeom Seok, CEO of Lunit, said, "Lunit is Korea's first deep learning-based medical AI company, forming an independent AI research team and a professional medical team to develop AI solutions for cancer diagnosis and treatment." He added, "As Lunit's AI products are currently recognized for their technology and marketability in the global market, we will do our best to continue growing as a leading company in the global medical AI field through this listing."