Neurophet Secures 20B Won Series C for AI Brain Disease Solutions

Neurophet Secures 20B Won Series C for AI Brain Disease Solutions

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Neurophet, a leading South Korean firm specializing in artificial intelligence (AI) solutions for brain disorder imaging, has secured 20 billion won in a Series C funding round. This latest funding round included participation from ten investment entities, comprising several domestic institutional investors.

Participating domestic institutional investors included KB Investment, Solidus Investment, Profit Asset Management, Quad Asset Management, Kolon Investment, Xolon Investment, Mirae Asset Securities, IBK, and DB Financial Investment, alongside Neurophet’s Japanese business ally, Seoil E&M.

Accumulating a total investment of 50 billion won since its inception in 2016, Neurophet is gearing up to release a comprehensive solution for Alzheimer’s dementia next year, leveraging its sophisticated AI-driven brain imaging analysis technology.

Upcoming Alzheimer’s treatments like Lecanemab and Donanemab, under rapid development by global pharma giants, are anti amyloid antibody therapeutics targeting the amyloid-beta protein, implicated in the pathogenesis of Alzheimer’s disease. It is imperative to verify the cerebral cortical deposition of amyloid-beta protein prior to treatment and to assess the protein’s reduction after treatment via amyloid-PET (positron emission tomography) imaging.

Neurophet has achieved a breakthrough by developing a solution that autonomously analyzes amyloid-PET images, tasks which conventionally required exhaustive manual scrutiny by radiology experts. Their proprietary software, ‘Neurophet SCALE PET,’ synergizes PET imaging with MRI to expedite the analysis of Alzheimer’s disease biomarkers, including amyloid-beta and tau proteins.

Furthermore, anti amyloid antibody treatments face the challenge of ‘ARIA (Amyloid-Related Imaging Abnormalities),’ which manifest as edema and microhemorrhages in the brain during treatment. Neurophet has established itself with singular technology in the automatic quantification of cerebrovascular neuropathology, facilitating the monitoring and analysis of ARIA. The company plans to synchronize the launch of its comprehensive Alzheimer’s treatment solution, inclusive of ARIA analysis technology, with the commercial release of these novel therapies next year.

Bin Jun-gil, CEO of Neurophet, remarked, “Focused on rigorous R&D in AI-based automated brain imaging analysis, Neurophet has attracted this investment by demonstrating our substantial technological edge and promising prospects for future growth, standing out from our competitors.” He pledged, “We are committed to leveraging this significant capital injection to drive proactive sales and marketing initiatives to expand product sales and increase revenue, both domestically and internationally.”

He further noted, “We are actively working through the necessary steps for a technical special listing on the Kosdaq market with our underwriting partner, Mirae Asset Securities. We are dedicated to meticulously preparing for our IPO next year to ensure its triumph.”

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