{"id":2217,"date":"2022-07-25T16:44:46","date_gmt":"2022-07-25T16:44:46","guid":{"rendered":"https:\/\/salarydistribution.com\/machine-learning\/2022\/07\/25\/shifting-into-high-gear-lunit-maker-of-fda-cleared-ai-for-cancer-analysis-goes-public-in-seoul\/"},"modified":"2022-07-25T16:44:46","modified_gmt":"2022-07-25T16:44:46","slug":"shifting-into-high-gear-lunit-maker-of-fda-cleared-ai-for-cancer-analysis-goes-public-in-seoul","status":"publish","type":"post","link":"https:\/\/salarydistribution.com\/machine-learning\/2022\/07\/25\/shifting-into-high-gear-lunit-maker-of-fda-cleared-ai-for-cancer-analysis-goes-public-in-seoul\/","title":{"rendered":"Shifting Into High Gear: Lunit, Maker of FDA-Cleared AI for Cancer Analysis, Goes Public in Seoul"},"content":{"rendered":"
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South Korean startup Lunit, developer of two FDA-cleared AI models for healthcare, went public this week<\/a> on the country\u2019s Kosdaq stock market.<\/p>\n

The move marks the maturity of the Seoul-based company \u2014 which was founded in 2013 and has for years been part of the NVIDIA Inception<\/a> program that nurtures cutting-edge startups.<\/p>\n

Lunit\u2019s AI software for chest X-rays and mammograms are used in 600 healthcare sites across 40 countries. In its home market alone, around 4 million chest X-rays a year are analyzed by Lunit AI models.<\/p>\n

Lunit has partnered with GE Healthcare, Fujifilm, Philips and Guardant Health to deploy its AI products. Last year, it achieved FDA clearance for two AI tools: one that analyzes mammograms for signs of breast cancer, and another that triages critical findings in chest X-rays. It\u2019s also received the CE mark in Europe for these, as well as a third model that analyzes tumors in cancer tissue samples.<\/p>\n

\u201cBy going public, which is just one step in our long journey, I strongly believe that we will succeed and accomplish our mission to conquer cancer through AI,\u201d said Brandon Suh, CEO of Lunit.<\/p>\n

Lunit raised $60 million in venture capital funding late last year, and its current market cap is some $320 million, based on its latest closing price. Following its recent regulatory approvals, the startup is expanding its presence in the U.S. and the European Union. It\u2019s also developing additional AI models for 3D mammography.<\/p>\n

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Brandon Suh, CEO of Lunit, beats a drum in celebration of the company\u2019s IPO at the Korean Exchange.<\/figcaption><\/figure>\n

Forging Partnerships to Deploy AI for Radiology, Oncology<\/b><\/h2>\n

Lunit has four AI products to help radiologists and pathologists detect cancer and deliver care:<\/p>\n