[이코노믹리뷰=황진중 기자] Buno, which has entered the countdown of listing on the KOSDAQ market, is strengthening its overseas marketing to become a global medical artificial intelligence (AI) leading company. Buno is the No. 1 medical AI company in Korea. At the end of last year, it was certified as the first innovative medical device company by the Ministry of Health and Welfare.
Buno has eight medical AI solutions. The company has acquired European CE certification and is in the process of obtaining approval from the US Food and Drug Administration (FDA) in order to expand overseas in earnest. In addition, Buno is offering 1.8 million shares through this listing, and the subscription will proceed from the 16th to the 17th after the demand forecast from the 9th. The expected listing date is the end of this month.
“Expect to expand domestic and overseas sales after listing”
On the 8th, Buno held an IPO meeting and announced its R&D and business achievements as a leading global medical AI company, as well as its strategy and vision for listing on the KOSDAQ.
Buno has proven its unrivaled AI technology and the clinical effectiveness and safety of the BunoMed solution through global deep learning challenges and research papers published in world-renowned clinical journals and related conferences.
An official from Buno said, “We are actively selling medical AI solutions by building an optimized business model with software medical devices.” “Establishing a sales channel more strategically through partnerships with leading medical companies with network channels of domestic and overseas medical institutions. I’m doing it.”
Buno is the No. 1 AI medical device in Korea. PROMISE-I ▲VunoMed Deep Brain AD™ and other medical AI solutions were introduced to the domestic and international markets. Of these, seven products that are medical devices have obtained licensing from the Korean Ministry of Food and Drug Safety, and five have obtained European CE certification.
After listing, Buno plans to strengthen its overseas marketing activities for medical AI solutions by expanding strategic partnerships with leading global healthcare companies and medical institutions. In addition to medical imaging, it plans to actively expand its domestic and overseas business areas by expanding the product pipeline including pathology and bio-signals that are currently in the clinical trial stage.
CEO Kim Hyun-joon explained, “Based on this listing on the KOSDAQ, we will advance from the No. 1 in Korea to become a leading company in the global medical AI industry.”
Development of medical AI solution based on deep learning engine’Vunonet’
VUNO has the capability to develop optimal medical AI solutions based on its original technology and its own deep learning engine VUNO Net. Through this, it is possible to analyze various medical data such as radiographic images including 3D images such as CT and MRI, as well as 3D images such as CT and MRI, as well as various medical data such as pathology and biological signals, and build flexible core modules to make products in the shortest possible time. As a lightweight model, it can be combined with various hardware medical devices.
Buno proved its technology by steadily achieving top-notch results in deep learning challenges hosted by renowned academic societies such as MICCAI and ISBI. The company has published more than 55 papers not only in clinical journals, but also in renowned conferences such as RSNA, AACR, ASCO, MICCAI, and ICASSP to announce the high technology and clinical effectiveness of each solution.
An official from Buno said, “We have successfully commercialized a medical AI solution with excellent performance, solidifying our position in the Korean market, and introducing products to many medical institutions.” “Last year, it was certified as the first innovative medical device company by the Ministry of Health and Welfare and It has proven its innovativeness.”
Korea optimizes medical AI development… Diversification of sales network through partnership
According to the explanation, the Korean medical environment is optimized for the characteristics of medical AI, which requires as much data as possible about patients with various diseases. Based on data from the Ministry of Health and Welfare, Korea’s electronic medical record (EMR) and medical imaging information system (PACS) penetration rate is the No. 1 in the world. As a result, it is interpreted that it is possible to accumulate medical big data based on high-level medical information.
An official from Buno said, “Buno, which was established in the early days of the medical AI field around the world, is conducting research and commercialization with research cooperation with large domestic medical institutions and leading medical staff as the top priority.” “We are securing high-quality data through joint R&D and clinical research with various overseas medical institutions ranging from developed countries in Europe to developing countries.”
The existing medical device market is based on hardware with a billing structure in which the buyer (customer) has permanent ownership when temporarily paying for use. This is in line with the demand/supply profits, as device performance deteriorates over time, and the market itself generates demand for equipment replacement over time.
Since software-based medical devices do not become obsolete, there is a risk that the market disappears due to the completion of product distribution when sold. By benchmarking the types of various software services in the non-medical field, Buno applied a billing policy that is charged according to usage in the case of cloud-based software services in the medical field.
An official from Buno said, “As customers want to use a subscription, purchase a subscription ticket in advance or pay monthly through settlement after use, and it is determined that it is applicable to the cloud-based medical software industry. It is being used as a model.”
An official from Buno added, “As the market leader has a preemptive advantage, the number of new customers is increasing while maintaining existing customers, so sales are expected to expand.”
Sales channels are largely divided into direct sales and cooperative sales. In detail, there are direct sales and cloud services for prestigious doctors (KOL/Key Opinion Leaders) in major hospitals leading opinions in the industry.
A Buno official said, “Vuno has secured references by conducting marketing centering on KOL. Since then, we have established sales channels through partnerships with various companies such as medical devices, software platforms, and pharmaceutical companies with various customer bases and service methods, and a vast sales network. It has diversified” he emphasized.