Korean startup Prevenotics, which provides diagnostic and patient management software for Artificial Intelligence-based cancer prevention, has completed attracting a bridge investment from 500 Global, a prominent global venture capital firm. This investment underscores the burgeoning importance of artificial intelligence (AI) in medical and healthcare sectors worldwide.
Prevenotics specializes in AI-based endoscopic real-time diagnosis technology and patient management support, particularly targeting cancer prevention from the pre-cancer stage. Led by CEO Jang Soo-yeon, a seasoned expert with over 15 years of experience in global business development at a leading pharmaceutical company, Prevenotics has achieved a milestone with the recent acquisition of a level 2 medical device certification for its endoscopic image analysis software.
Expressing ambitious plans for the future, CEO Jang Soo-yeon said, “With this acquisition of medical device certification, we will primarily commercialize an artificial intelligence solution for stomach cancer prevention. In the future, we plan to build a zero cancer ecosystem by adding diagnostic and patient management solutions to prevent not only stomach cancer but also colon cancer and liver cancer.”
Shin Dong-yeop, investment review manager at 500 Global, said, “In contrast to existing technologies that were focused on diagnosing diseases during gastroscopy, Prevenotics’ technology targets and preventively diagnoses diseases starting from intestinal metaplasia, a pre-cancerous lesion. We expect that Prevenotics’ software, developed based on Korea’s abundant endoscopy data, will make a global contribution to preventing stomach cancer in Asian, Hispanic, and Black population who are at high risk for stomach cancer.”
500 Global is a global multi-stage venture capital with more than 30 funds and approximately 3 trillion won in AUM around the world. It is based in key regions around the world, including not only North America but also the Middle East, South America, Southeast Asia, Africa, and Eastern Europe, and operates in more than 80 countries around the world. The VC firm has invested in more than 3,000 startups and discovered more than 50 unicorn companies.
Since establishing its first Korean fund in 2015, 500 Global has actively collaborated with regional funds to empower early-stage startups in Korea to thrive in the global market. With investments in over 70 domestic startups, including notable names like Finda, People Fund, and Spoon Radio, 500 Global continues to catalyze innovation and drive transformative change in the Korean startup ecosystem. The investment in Prevenotics serves as a testament to the convergence of AI and healthcare, illustrating how technological advancements are reshaping the landscape of disease prevention and management.
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