Anti-cancer AI tools developer Lunit gets $61m pre-IPO funding round
Cancer-fighting AI developer Lunit has picked up a $61m pre-IPO financing round from investors including HealthQuest Capital and Casdin Capital.
Lunit is working on AI-powered diagnostic tools for cancer screening, as well as biomarkers that can accurately predict and guide which patients respond to specific cancer therapy.
The company is set for an IPO on the South Korean stock market early next year.
HealthQuest Capital invested $20m of the latest funding round. Firm managing partner Garheng Kong said, “At HealthQuest, we’re highly interested in AI advancement and its application to complex diagnostic procedures to improve accuracy and reduce complexity.
“Lunit stands out as best-in-class for its state-of-the-art solutions (which uses a paired modality approach) across multiple products, and has significant initial commercial traction around the world.”
Other Lunit backers include Softbank Ventures Asia, Legend Capital, IMM Investment, Kakao Ventures and Mirae Asset Venture Investment.
Lunit previously closed a strategic investment of $26m from Guardant Health last July.
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