[Special Stock] CorelineSoft to Dominate Global Lung Cancer Screening Market with Medical AI... Simultaneous Screening for 3 Major Diseases

Coreline Soft, an artificial intelligence (AI) medical imaging software company, is rebounding. It merged with Shinhan No.7 SPAC through a SPAC extinction method and was listed on the KOSDAQ market the day before. Coreline Soft announced that it aims to become a leading global company in the lung cancer screening market through its initial public offering (IPO).

At 9:31 a.m. on the 19th, Coreline Soft was trading at 39,200 KRW, up 12.0% from the previous day. It is rebounding one day after a sharp 25% drop the day before.

Founded in 2012, Coreline Soft is an AI medical imaging software company. Based on AI-powered 3D CT image analysis and screening specialized technology, it has a diverse range of 'AVIEW' product lines. It has secured various product lines including chest and head & neck CT image quantitative analysis software, as well as 3D medical imaging technology-based therapeutic and research products.

One of Coreline Soft's representative products is 'AVIEW LCS PLUS.' With a single CT scan, it can simultaneously screen for the three major smoking-related diseases: lung cancer (pulmonary nodules), emphysema, and coronary artery calcification. Companies with solutions that can screen all three diseases simultaneously are rare worldwide. Coreline Soft's AVIEW LCS PLUS has been recognized for its technology, being selected as the official sole solution for domestic and international lung cancer screening projects.

Among domestic medical AI companies, Coreline Soft is the only one that has exclusively supplied national lung cancer screening reading support and quality management solutions for seven consecutive years since 2017. It also supplies to European lung cancer screening projects such as the European Union (EU)-led 4ITLR project involving five European countries, the German lung cancer screening project (HANSE), and the Italian lung cancer screening project (ILSP).

Coreline Soft is standing out in the AI medical imaging software market based on its innovative AI performance, clinical efficacy of its software, 3D medical imaging technology, and usability in medical settings. Through this, it plans to grow alongside the rapidly expanding global lung cancer screening market.

Coreline Soft is confident in surpassing 20 billion KRW in sales and achieving profitability by 2025. Kim Jin-guk, CEO of Coreline Soft, said at a pre-listing press conference, "We will break even in 2025 when sales reach 20 billion KRW," and added, "Although losses increased due to investments for overseas expansion, we will reduce losses this year through sales growth."

Coreline Soft recorded sales of 4 billion KRW last year, approximately doubling compared to the previous year. However, operating losses increased from 7.3 billion KRW to 10.1 billion KRW. The company continues to invest in establishing local subsidiaries and sales networks for overseas expansion.

CEO Kim Jin-guk stated, "The current chest screening market focused on lung cancer screening is about 50 billion KRW in size, but we plan to expand chest screening to the entire chest area and to general medical departments beyond screening," adding, "If we develop new product pipelines, the total target market size could grow to about 1.1 trillion KRW."