Healthcare Innovation by clinical AI
Heuron Aiming for Special Technology Listing…Korea Investment & Securities Co Selected as the Lead Underwriter
AI diagnostics developer Heuron is planning to use the Special Technology Listing system for an IPO possibly next year. This will be after the pre-IPO in the first half next year. Heuron has already completed the Series B round and selected Korea Investment & Securities Co as the lead underwriter.
On the 29th, according to the medical device industry, Heuron has selected Korea Investment & Securities as the lead underwriter and signed the underwriting contract. The track record of Korea Investment & Securities Co which successfully helped medical AI company JLK get listed last year moved Heuron strongly towards Korea Investment & Securities Co.
Led by Donghoon Shin (CEO) who is a neurology professor at Gachon University Gil Medical Center, Heuron was founded jointly by neurology, radiology and medical engineer professors and, Ph. D AI researchers from Gachon Medical Device Convergence Center. Heuron attracted a lot of attention because it was founded by full-time university hospital professors unlike other AI diagnostic companies that are mostly comprised of software engineers.
Heuron recently completed raising funds through Series B funding. A total of KRW 15.27 billion was raised. It’s been a year since Heuron has raised KRW 3 billion through Series A round in last July.
Korea Investment & Securities Co. which has been selected as the lead underwriter also invested KRW 2 billion in the Series B round. It’s told that another securities company also competed hard in the underwriter selection process. They rated Heuron’s high growth potential seeing the Series B round go so smoothly.
Heuron’s goal is to get listed in KOSDAQ through special technology listing. First introduced in 2005, the special technology listing system has been a major listing track for biotech companies. The companies applying for special technology listing must receive a technology evaluation from an outside evaluation agency appointed by The Korea Exchange (KRX).
Heuron has established an internal accounting management system and internal control system and also had its their accounts audited by an independent auditor, preparing for an audit for getting listed. After a pre-IPO in the first half next year, Heuron will receive a technology evaluated. Heuron is planning to apply for a KOSDAQ listing in the second half next year.
On the 28th, Heuron was notified by the Ministry of Food and Drug Safety that its Parkinson diagnostic software mPDia has been designated as an ‘Innovative Medical Device.’ Heuron is hoping to successfully complete retrospective clinical trials with mPDia and get the software registered as a ‘New Medical Device’.