Coreline Soft's stock price is on the rise. The news that its AI solution for simultaneous diagnosis of chest diseases, 'AVIEW LCS PLUS,' was recognized for its technological prowess in the pulmonary disease medical AI market at the Radiological Society of North America (RSNA 2023) appears to be influencing the stock price. Coreline Soft's ability to secure large-scale projects, including national-level initiatives, facilitating contracts with major medical institutions and establishing a foothold in the European market, is also cited as a factor expanding its growth potential. The company supplies to European lung cancer screening projects such as the EU-led 4ITLR involving five European countries, the German lung cancer screening project HANSE, and the Italian lung cancer screening project ILSP.
As of 10:40 AM on the 28th, Coreline Soft is trading at 21,450 KRW, up 13.37% from the previous day.
Since entering the KOSDAQ market on September 18, the stock price had been sluggish due to a flood of sell orders for profit-taking. The rebound is interpreted as a result of the company embarking on full-scale overseas expansion based on its technological capabilities.
Founded in 2012, Coreline Soft is an AI medical imaging software company. It possesses a variety of 'AVIEW' product lines based on AI-driven 3D CT image analysis and screening-specialized technology. The company has secured a diverse product portfolio including chest and head & neck CT image quantitative analysis software, as well as 3D medical imaging technology-based therapeutic and research products.
A representative product of Coreline Soft 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 capable of screening these three diseases simultaneously are rare worldwide. Coreline Soft's AVIEW LCS PLUS has been recognized for its technological excellence, being selected as the official sole solution for domestic and international lung cancer screening projects.
Coreline Soft participated in the Radiological Society of North America (RSNA 2023) held in Chicago, USA, from the 26th (local time) to the 30th. It unveiled research results from the team led by Professor Catherine Jones, a chest radiographer and researcher at the Australian radiology network I-MED. The research team calculated the return on investment (ROI) for the AVIEW solution at 79.5%. They analyzed that using AI to enhance image reading efficiency optimizes the utilization of medical personnel resources and provides cost-saving benefits, making it highly useful.
Jonghyun Park, a researcher at Daol Investment & Securities, explained, "The product is expanding to include COPD and interstitial lung diseases through chest CT." He added, "Compared to X-rays, CT images have 237 times more images per examination and 10 times longer average reading time, increasing medical staff fatigue." He further stated, "Next year, the brain hemorrhage reading solution AVIEW: NeuroCAD is scheduled for reimbursement," and "We plan to secure a full package by expanding the portfolio based on chest and abdominal CT for ILA, aortic dissection, and other conditions."
Coreline Soft supplies 'AVIEW COPD' to Heidelberg University Hospital in Germany. AVIEW COPD is a solution that automates the image analysis algorithm necessary for diagnosing chronic obstructive pulmonary disease (COPD), the third leading cause of death worldwide.
At the University Hospital of Catania in Italy, Coreline Soft supplies pulmonary specialty products including the chest disease simultaneous diagnosis solution 'AVIEW LCS PLUS,' the automated analysis solution for chronic obstructive pulmonary disease 'AVIEW COPD,' and the fully automated analysis solution for interstitial lung disease patterns 'AVIEW Lung Texture.' The company has also signed a partnership with the French radiology specialist group Imagin and completed a supply contract for 'AVIEW LCS PLUS.'
Jinkook Kim, CEO of Coreline Soft, stated, "We are discussing solution supply with numerous hospitals and medical institutions centered in Germany, France, and Italy," and added, "We will ensure that the early market dominance effect continues to translate into profits."
The European medical device market was valued at 150 billion euros (approximately 210 trillion KRW) as of 2021, making it the second largest in the world after North America. The per capita medical device market size is among the highest globally.
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