Coreline Soft selected for national R&D project, secures 2.2 billion KRW non-dilutive grant for FDA approval and global expansion
Coreline Soft has been selected as the lead research institution for a national advanced medical device R&D project sponsored by the Ministry of Health and Welfare.
The project has a total budget of 2.94 billion KRW including a government grant of 2.2 billion KRW equivalent to 12.11 percent of the company's equity capital of 18.17 billion KRW providing non-dilutive funding.
The goal is to conduct US-based clinical trials and obtain FDA 510k clearance for two AI software products AVIEW Lung Nodule CAD and AVIEW Lung Metrics by December 2028.
Successful FDA approval will enable direct market entry in the United States and drive future revenue growth while the government backing adds credibility.
No new shares or treasury stock transactions are involved so there is no dilution for existing shareholders.
[AI Summary]Coreline Soft secures 2.2 billion KRW in non-dilutive government funding for FDA approval of AI lung diagnostics strengthening its balance sheet and global market position with zero shareholder dilution.
KOSDAQ Filing Information
Major Management Matters Related to Investment Decision ([Selection of National Project] Clinical Trial for Safety and Efficacy Validation of Two Types of CT-Based Lung Disease AI Diagnostic Assistance Software Medical Devices and Obtaining U.S. FDA Approval)