Medical IP kicks off pre-IPO funding as it gears up for 2024 listing

(Medical IP)

Medical IP has initiated pre-initial public offering (pre-IPO) funding as it renews its efforts to go public. The company aims to complete its fundraising by the end of 2024 and is targeting a 2025 listing after undergoing a technological evaluation. Investment banking sources reported on Monday that Medical IP has already raised about 4 billion won ($2.94 million) in its pre-IPO campaign.

The company aims to raise a total of 20 billion won by the end of the year via its pre-IPO funding round. Founded in 2015 by Professor Park Sang-jun of Seoul National University Hospital’s Department of Radiology at the, Medical IP was the first spin-off from the hospital. It holds proprietary technology that converts black-and-white 2D medical images into 3D color images and is actively involved in developing various AI-based medical diagnostic solutions.