Lunit is showing strong performance. The medical artificial intelligence (AI) company Lunit, celebrating its 10th anniversary, has presented a mid- to long-term vision aiming for "annual sales of 10 trillion KRW and operating profit of 5 trillion KRW" by 2033, its 20th anniversary.
As of 11:18 AM on the 24th, Lunit is trading at 159,700 KRW, up 10.14% from the previous day.
At the 10th anniversary briefing, Lunit CEO Seo Beom-seok stated, "Based on AI technology in which domestic companies have particular strengths, we will improve the quality of medical services at healthcare institutions worldwide and increase the survival rate of cancer patients, thereby realizing the founding spirit and corporate philosophy of 'conquering cancer through AI'."
CEO Seo added, "Lunit has grown into a leading company in the global medical AI industry. Leveraging AI technology where domestic companies have particular strengths, we will enhance the quality of medical services worldwide and increase cancer patient survival rates, fulfilling the founding spirit and corporate philosophy of 'conquering cancer through AI.'"
Lunit plans to go beyond its existing core business of 'AI solutions' for cancer diagnosis and treatment to create a 'data-AI virtuous cycle ecosystem' through data. To this end, it also presented goals such as a medical big data platform, autonomous AI, whole-body magnetic resonance imaging (MRI), multi-omics biomarkers, and new drug candidate discovery.
Lunit is expanding into the cancer treatment business area. It plans to further increase the utilization of Lunit Scope. While it has previously focused on biomarker development for immuno-oncology drugs, which are third-generation anticancer agents, it will expand its scope to fourth-generation antibody-drug conjugates (ADC) in the future.
Additionally, by discovering new drug candidate substances based on Lunit Scope, the company aims to transform into a new drug development company. Lunit plans to apply Lunit Scope to promising new drug candidates, and if positive results are derived, it will pursue technology transfer. Subsequently, it will concretize its business model by either developing and commercializing the drugs directly or licensing the technology to major pharmaceutical companies.
Lunit is currently pursuing a paid-in capital increase worth 201.9 billion KRW. The largest shareholder, Chairman of the Board Baek Seung-wook, CEO Seo Beom-seok, and other key executives are expected to participate 100% in the allocation ratio of the paid-in capital increase. The secured funds will be used as follows: 50.7 billion KRW for product advancement and new product development, 40 billion KRW for new business entry, 90.7 billion KRW for investments in other corporations, and 20.4 billion KRW for overseas employee recruitment.
In his keynote speech, Baek Seung-wook, Chairman of Lunit’s Board, emphasized, "Lunit will do its utmost to conquer cancer through AI. Even conquering just one type of cancer can streamline a market where humanity spends 1,000 trillion KRW."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
