Medical artificial intelligence (AI) company Vuno announced on the 18th that its wholly owned U.S. subsidiary, VunoMed, will proceed with a rights offering capital increase worth 2,995.47 million KRW. Vuno will provide the entire amount of the capital increase.
VunoMed plans to use the funds raised through the capital increase for the official U.S. launch of its AI-based brain quantification medical device, VunoMed DeepBrain, next month, as well as for clinical trials and obtaining regulatory approvals for other products preparing to enter local markets.
Following the launch of DeepBrain next month, VunoMed will focus on expanding contact points with key opinion leaders (KOLs) and building a sales network to ensure rapid market penetration locally. To this end, it has recently recruited experts with extensive experience in medical AI marketing and insurance reimbursement in the local market. Investment will also be strengthened in clinical research related to VunoMed DeepCard, an AI-based medical device for monitoring the risk of cardiac arrest, which is expected to obtain U.S. Food and Drug Administration (FDA) approval within this year.
Lee Ye-ha, CEO of Vuno, said, “We are thoroughly preparing based on a mid- to long-term business strategy to successfully establish ourselves in the U.S. market, which has many variables and is difficult to enter initially. With this decision, we will strengthen the functions of our U.S. subsidiary and continue to strive to maximize corporate value through efficient cost execution.”
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