Neurofit, Leading the Way with AI Solutions for Brain Disorders, Lists on KOSDAQ.. Begins Global Expansion

[Financial News] Neurofit is set to aggressively enter the global market based on its listing on the KOSDAQ market. Neurofit held an IPO press conference on the 11th in Yeouido, Seoul, and unveiled its growth strategy post-listing.
Founded in 2016 at the Gwangju Institute of Science and Technology (GIST), Neurofit has been developing precision brain imaging analysis and treatment solutions based on its proprietary technology 'SegEngine', which rapidly and precisely analyzes different brain structures for each individual.
Recently, with the full-scale prescription of Alzheimer's antibody treatments (such as Lecanemab), the demand for 'Neurofit Aqua AD' has surged. This product provides essential brain imaging analysis functions during the treatment process and has been introduced to 31 hospitals in Korea by April 2024.
From the second half of the year, as it transitions from a research demo to a formal product, revenue growth is expected to accelerate.
Neurofit is also accelerating its global expansion. It has currently obtained approvals for △17 cases in Korea △5 cases in the United States △6 cases in Japan △1 case in Europe △5 cases in Singapore △1 case in Thailand, and is pursuing 16 additional approvals.
In Japan, Neurofit's solution was recently designated as eligible for health insurance reimbursement, gaining momentum for commercialization, and it has signed an exclusive distributor agreement with Beijing Rado Technology in China, preparing for market entry. The product has also been introduced to Singapore General Hospital (SGH), making expansion across Asia visible.
Neurofit is also developing an imaging analysis specialized service (CRO) business targeting global pharmaceutical companies. It is expanding its presence in the drug development imaging analysis market by sharing data and collaborating on research with global big pharma such as Eli Lilly and Roche.
Bin Jun-gil, co-CEO of Neurofit, stated, "Neurofit is a unique company with AI-based medical solutions that address the entire cycle of brain disorders from diagnosis to treatment," and added, "We will establish a leading position in the global market through collaboration with global pharmaceutical companies and the advancement of treatment solutions."
Neurofit plans to strategically invest the funds secured through this listing in △advancing key solutions △strengthening partnerships and networks for global expansion △marketing and research and development.
Meanwhile, Neurofit is set to conduct a public subscription on the 15th and 16th, planning to offer a total of 2 million shares. The desired public offering price is between 11,400 and 14,000 won, with the public offering amounting to approximately 22.8 billion to 28 billion won. The underwriter is Mirae Asset Securities.

vrdw88@fnnews.com Kang Jung-mo Reporter