Lunit said Wednesday that it has started preparing to go public in the KOSDAQ stock market with Nonghyup (NH) Investment and Securities as its lead manager.
The company plans to enlist in the secondary bourse in two years under the Korea Exchange’s (KRX) “technology exception policy.” The policy makes listing easier for smaller firms with technological growth potentials.
Lunit, an abbreviation of “Learning unit,” is a venture company devoted to developing advanced medical image analytics and novel imaging biomarkers using AI and deep learning technology.
Lunit Insight, the company’s chest X-ray medical image detection assistant software, recently received approval from the Ministry of Food and Drug Safety. Starting with the installation of its system at Seoul National University Hospital in December, Lunit plans to begin commercializing its product.
The company is also taking steps to receive approval from the U.S. Food and Drug Administration (FDA) and European Conformite Europeenne (CE) mark for its products.
“We have received both domestic and foreign attention after being named as the only Korean enterprise to be listed on the CB Insights’ ‘World’s most promising 100 Artificial Intelligence Startups,’” the company said. We also have ranked fairly in various international competitions such as the ImageNet Large Scale Visual Recognition Challenge (ILSVRC) and Tumor Proliferation Assessment Challenge (TUPAC).”
Lunit CEO Suh Beom-seok said, “The selection of the lead manager for going public is a significant moment for the company as we plan to start the commercialization of our products. So far we have proved that the company’s AI technology is one of the best in the world.”
Now the company plans to stand out as a global AI company by speeding up the commercialization of its technology on the occasion of the KOSDAQ listing, Suh added.