Seoul Korea — AI-powered cancer solutions startup Lunit said it has raised a strategic investment of $26 million from Guardant Health, Inc., a precision oncology company.
Lunit which has closed its Series C Tranche B funding round is expected to file for an initial public offering on the Korean Stock Exchange later this year said the company.
At the American Society of Clinical Oncology (ASCO) 2021 annual meeting, the company presented that its tissue analysis platform, Lunit SCOPE, was able to find 50% more patients who would respond to immunotherapy, compared to traditional diagnostic pathology.
“Artificial intelligence is rapidly gaining ground in cancer research and it’s exciting to see the excellent progress Lunit has made in developing innovative AI-powered radiology and pathology solutions that have the potential to significantly improve the diagnoses and treatment of cancer,” said Helmy Eltoukhy, Guardant Health CEO.
We are thrilled to announce a groundbreaking partnership with @GuardantHealth! The deal includes strategic investment of $26 million from Guardant to #Lunit, intended to reshape and innovate the precision oncology landscape. #cancer #AI https://t.co/sBdSCFzD1O
— Lunit (@Lunit_AI) July 19, 2021