[Market Focus] Noel’s H1 Sales Surge 1,270%... Countdown to U.S. Entry with World-Leading Technology

Noel, a medical artificial intelligence (AI) diagnostics company, has shown strong performance for two consecutive days. The company’s stock price appears to be influenced by expectations that Noel will soon sign a supply agreement for its blood analysis product with a leading local company that holds 30% of the U.S. diagnostics market.

Noel’s sales in the first half of this year increased by 1,270% compared to the same period last year, and the company signed a global supply contract worth 11.7 billion KRW. With concrete achievements such as obtaining regulatory approvals and securing distribution channels in Europe and Central and South America, expectations for its growth are rising. Cumulatively this year, Noel has signed new supply contracts in 12 countries worldwide.

As of 9:31 a.m. on September 17, Noel was trading at 3,155 KRW, up 370 KRW (13.29%) from the previous trading day.

In a recent interview with an economic daily, Noel CEO Lim Chanyang stated, “Next month, we will launch the world’s only one-stop AI diagnostic product for cervical cancer in Europe and Central and South America, and in December, we will launch the world’s only one-stop AI diagnostic product for minimal blood (fingerstick) samples.”

When Bill Gates recently visited Korea, Noel was invited to a global meeting by the Gates Foundation and the Right Foundation, both of which are backed by Gates. Noel is attracting attention as it enters a market with no competitors, thanks to its unique technology, and is achieving notable results.

Noel’s diagnostic platform ‘miLab’ was selected in 2021 as the world’s first AI healthcare product utilizing Nvidia chips at ‘Nvidia GTC,’ the world’s leading AI conference.

Noel unveiled its corporate value enhancement plan in February this year. The company aims for even steeper growth in the second half of the year through new product launches, improved gross profit margins, and contracts with global companies. The cervical cancer diagnostic solution ‘miLab CER,’ which has already proven high demand and market potential with supply contracts signed before its official launch, will begin shipping in October. The next-generation blood analysis solution ‘miLab BCM,’ which features added CBC (complete blood count) functionality, will also be released within this year.