[Special Stock] Coreline Soft Surges on Global Expansion After FDA Approval, Closing the Gap with Lunit

Coreline Soft is showing strong performance. The company's stock price appears to be influenced by the recent news that, after jointly bidding with Microsoft (MS) subsidiary Nuance, Coreline Soft will supply its proprietary artificial intelligence (AI)-based lung image pattern analysis software, 'AVIEW Lung Texture,' to the Taiwan branch of global pharmaceutical company Boehringer Ingelheim.

Among domestic medical AI companies such as Lunit, VUNO, and JLK, Coreline Soft, with its relatively small market capitalization, has faced criticism for lacking collaborations and overseas achievements with global companies. However, as the company has recently entered into a series of collaborations with global firms, expectations for a re-evaluation are rising. Kim Jinguk, CEO of Coreline Soft, emphasized, "After recently proving our technological capabilities, the adoption of Coreline Soft's AI software by global companies and governments around the world is accelerating."

Coreline Soft has demonstrated the efficacy and safety of its major AI software products, including AVIEW CAC, AVIEW LCS, AVIEW COPD, and Fissure Completeness, by obtaining approval from the U.S. Food and Drug Administration (FDA).

As of 9:50 a.m. on May 28, Coreline Soft was trading at 8,350 KRW, up 7.6% from the previous day.

Boehringer Ingelheim is a leading global pharmaceutical company, recording annual sales of $27.7 billion (approximately 38 trillion KRW) as of 2023. The company has strengths in the field of respiratory diseases. Recently, it has been actively utilizing AI across the organization, starting from the basic research stage of new drug development. Boehringer Ingelheim is working to transition to data-driven business operations by integrating with MS Copilot and Amazon Web Services (AWS).

Boehringer Ingelheim plans to apply AVIEW Lung Texture to major tertiary hospitals in Taiwan, accumulate real-world data on the antifibrotic agent 'Ofev (Nintedanib)' approved in Taiwan, and simultaneously conduct clinical validation of 'Nerandomilast.' The goal is to rapidly identify patients with interstitial lung disease (ILD) and interstitial lung abnormality (ILA) who meet clinical research criteria and to actively pursue clinical research on the next-generation antifibrotic agent Nerandomilast.

Coreline Soft plans to use this supply as a starting point to expand its collaboration with Boehringer Ingelheim in new drug development. The company stated that it will expand the application to major hospitals throughout Taiwan through additional product supply and operate in the form of a screening program to help establish next-generation ILD treatment methods.

AVIEW Lung Texture is characterized by its ability to analyze chest computed tomography (CT) images to quantify and classify lung fibrosis patterns. The results can be linked in real time with Picture Archiving and Communication System (PACS) and Radiology Information System (RIS), and immediately viewed via a web-based dedicated viewer. A key advantage is that research teams and medical staff can quickly share and utilize the same data. This not only greatly improves the speed of patient selection but also enables the establishment of a research environment where treatment responses can be quantitatively tracked.

A Coreline Soft representative stated, "The fact that Boehringer Ingelheim is directly purchasing and distributing AVIEW Lung Texture to major hospitals is evidence of the clinical reliability of Coreline Soft's AI technology," adding, "We will continue to build a research ecosystem where ILD patients can be diagnosed early and innovative treatments can be rapidly applied."

Previously, in 2023, Coreline Soft signed a sales rights agreement with Microsoft (MS) subsidiary Nuance. The company also began collaborating with MS to build a digital hospital platform. Recently, Coreline Soft's products have been selected for a series of government-led lung cancer screening projects in Europe, and requests for supply from global medical AI companies have been increasing. The company plans to strengthen its collaboration with Nuance and MS to increase its market share.

Coreline Soft also succeeded in winning the 'Eastern Diagnostic Imaging Network (EDIN)' project from the UK National Health Service (NHS). This marks the first time Coreline Soft's AI software will be used at NHS-affiliated medical institutions in the UK. Coreline Soft plans to expand the supply of its AI software within the UK.

CEO Kim Jinguk stated, "Winning the EDIN project is an important milestone as the UK government begins to actively adopt AI imaging analysis solutions, and it will be the first clinical use case of an AI solution in the UK." He added, "It is significant that the application of our AI software has expanded to general health screening, a market about 20 times larger than lung cancer screening."

He further emphasized, "After recently proving our technological capabilities, the adoption of Coreline Soft's AI software by global companies and governments around the world is accelerating," and "We have already entered the lung cancer screening interpretation market in the UK through a major teleradiology company."