VUNO increases subsidiary capital to hasten U.S. market entry

[Courtesy of VUNO]

South Korean medical AI company VUNO announced a 30 billion won ($2.2 million) capital increase for its wholly owned U.S. subsidiary, VUNO MED Inc., as it prepares to expand into the American market.

The move, which was disclosed on Tuesday, will support the successful launch of VUNO Med-DeepBrain as well as funding clinical trials and regulatory approvals for key products entering the U.S. market.

VUNO is set to officially launch its AI-based brain quantification medical device, VUNO Med-DeepBrain, in the United States in July 2024. To ensure rapid market penetration post-launch, the company will engage with key opinion leaders and establish a robust sales network. VUNO MED recently strengthened its team by hiring experts who have extensive experience in medical AI marketing and insurance reimbursement in the U.S. market.

VUNO also plans to bolster clinical research investments for its AI-based cardiac arrest risk monitoring device, VUNO Med-DeepCARS, which is anticipated to receive FDA approval later in 2024. This device was designated as an FDA Breakthrough Device in June of the previous year, a first for the Korean medical AI industry.

VUNO MED is currently conducting clinical trials for VUNO Med-DeepCARS in collaboration with American medical institutions, and published research results demonstrating the device’s clinical efficacy in leading critical care journals including Critical Care Medicine (CCM) and Acute and Critical Care (ACC).