News
AI company raises US$150m to advance cancer screening technology
There were an estimated 18 million cancer cases around the world in 2020

The AI software development company Lunit has secured US$150m in capital increase to advance its cancer screening technology.
Lunit is a South Korean public company that develops medical AI software to help detect early-stage cancer and “optimise” cancer treatment.
The firm provides its tools to medical institutions around the world through partnerships with industry giants and says it is devoted to developing advanced medical image analytics and biomarkers to “conquer cancer” through AI.
The decision to initiate the capital raise was made during a board of directors meeting in August. Following the board resolution, the process was successfully concluded in November, with the fund fully paid in.
Lunit said NH Investment & Securities played a key role as the underwriter for the funding.
According to the company, the funds raised will be invested in several initiatives, including product development, recruitment, intangible asset acquisition as well as external investment.
This financial backing is hoped to enable the firm to “push medical intelligence to new heights”.
Brandon Suh, CEO of Lunit, said: “With our AI-powered solutions for cancer diagnostics and treatment support, we remain committed to leveraging technology to conquer cancer through AI.
“We’re deeply grateful for the support and trust from our shareholders. This US$150m capital increase reflects their faith in our mission and technology.
“We’re eager to use these funds to advance our innovative products, explore new pharmaceutical avenues and recruit global talent. Our commitment remains steadfast and we believe that every dollar invested in Lunit can make a significant impact in the fight against cancer.”
There were an estimated 18 million cancer cases around the world in 2020. Of these, almost nine million cases were in women.
According to the World Cancer Research Fund International, breast and lung cancers were the most common cancers worldwide, contributing 12.5 per cent and 12.2 per cent of the total number of new cases diagnosed in 2020.
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Cancer
Ovarian cancer cases rising among younger adults, study finds

Ovarian cancer cases are rising among younger adults in England, with bowel cancer showing a similar pattern, a new study suggests.
Researchers said excess weight is a key contributor, but is unlikely on its own to explain the pattern.
The authors wrote: “These patterns suggest that while similar risk factors across ages are likely, some cancers may have age-specific exposures, susceptibilities, or differences in screening and detection practices.”
They added: “Although overweight and obesity are linked to 10 of the 11 cancers evaluated and account for a substantial proportion of cancer cases, both BMI-attributable and BMI-non-attributable incidence rates have increased, though the latter more slowly, suggesting other contributors.”
The study analysed cancer incidence, meaning new diagnoses, in England between 2001 and 2019 across more than 20 cancer types, comparing adults aged 20 to 49 with those aged 50 and over.
Among younger women, cases of 16 out of 22 cancers increased significantly over the period, while among younger men, 11 out of 21 cancers increased significantly.
In particular, there was a significant rise in 11 cancers with known behavioural risk factors among adults under 50. These were thyroid, multiple myeloma, liver, kidney, gallbladder, bowel, pancreatic, endometrial, mouth, breast and ovarian cancers.
Rates of all 11 also rose significantly among adults aged 50 and over, with the notable exceptions of bowel and ovarian cancer.
Five cancers, endometrial, kidney, pancreatic, multiple myeloma and thyroid cancer, increased significantly faster in younger than in older women, while multiple myeloma increased faster in younger than in older men.
The researchers looked at established risk factors including smoking, alcohol intake, diet, physical inactivity and body mass index, a measure used to assess whether someone is underweight, a healthy weight, overweight or obese.
With the exception of mouth cancer, all 11 cancers were associated with obesity. Six, liver, bowel, mouth, pancreatic, kidney and ovarian, were also linked to smoking.
Four, liver, bowel, mouth and breast, were associated with alcohol intake. Three, bowel, breast and endometrial, were linked to physical inactivity, and one, bowel, was associated with dietary factors.
But apart from excess weight, trends in those risk factors over the past one to two decades were stable or improving among younger adults.
That suggests other factors may also play a part, including reproductive history, early-life or prenatal exposures, and changes in diagnosis and detection.
The study noted that red meat consumption fell among younger adults, while fibre intake remained stable or slightly improved in both sexes between 2009 and 2019, although more than 90 per cent of younger adults were still not eating enough fibre in 2018.
Established behavioural risk factors accounted for a substantial share of cancer cases.
Excess weight was the risk factor associated with most cancers in 2019, ranging from 5 per cent for ovarian cancer to 37 per cent for endometrial cancer.
The researchers said the findings were based on observational data, meaning the study could identify patterns but could not prove cause and effect.
They also noted there were no consistent long-term national data for several risk factors, that the analysis was limited to England rather than the UK, and that cancer remains far more common overall in older adults despite the rise in cases among younger people.
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