CXR-AID, Powered by Lunit, Nets Japan Nod for Reimbursement, Accelerating Market Expansion Opportunities

- Medical AI solutions,including CXR-AID,officially included in Japanese health insurance reimbursement as a management service fee of imaging diagnosis

SEOUL,South Korea,June 26,2023 -- Lunit (KRX:328130.KQ),a global provider of cancer diagnostics solutions,today announced that CXR-AID,FujiFilm's AI solution for chest X-ray analysis,powered by Lunit INSIGHT CXR,has been officially included as an eligible solution for health insurance reimbursement in Japan.

(from left to right) Minhong Jang (CBO,Lunit),Ryuji Hisanaga (Product Manager,FujiFilm),Kenta Shinohara (Product Specialist,and Lunit's representatives pose for a photo after the meeting at Lunit HQ,Seoul,Korea,on June 14

The reimbursement is provided under the 'Imaging Diagnosis Reimbursement Class 3' category of the Japan Ministry of Health,Labor,and Welfare (MHLW),which grants additional reimbursement points to hospitals. MHLW added the new Class 3 condition for hospitals utilizing AI image diagnostics software and fulfilling specific facility and safety criteria.

Following the updated policy of the MHLW,the Japan Radiological Society (JRS) has issued a guideline addressing the implementation of AI solutions in hospitals,along with a list of qualified medical AI software eligible for health insurance reimbursement. The JRS guideline specifically recommends 17 medical AI software options. This official guideline now enables Japanese hospitals and medical institutions to receive reimbursement for utilizing AI technology,including CXR-AID for chest X-ray analysis.

With the green light for health insurance reimbursement,Japanese hospitals and medical institutions can deliver enhanced diagnostic services while receiving 340 reimbursement points (worth JPY 3,400) by the government.

This significantly boosts Lunit and FujiFilm's expansion in the Japanese market and creates new growth prospects in the field of AI image diagnostics.

"We anticipate that this case will enhance patients' access to medical AI solutions and alleviate the financial strain of medical expenses," said Ryuji Hisanaga,Product Manager of FujiFilm IT Solutions. "The acknowledgment of reimbursement for AI software is also a positive indication of its potential expansion to further hospitals and clinics in the future."

"Lunit and FujiFilm are committed to supporting Japanese medical practices by providing them with an advanced AI solution that enhances screening accuracy and offers financial benefits through reimbursement," said Brandon Suh,CEO of Lunit. "Leading the way in Japan,we anticipate that more countries will provide institutional support for our AI-based diagnostics solutions,enabling patients to benefit from a wider range of health insurance benefits."

CXR-AID,leverages state-of-the-art AI algorithms to detect major abnormal findings,including lung cancer. Its exceptional diagnostic performance led to the approval of the Japan Pharmaceuticals and Medical Devices Agency (PMDA) in 2021.

The market expansion of CXR-AID in Japan is further bolstered by FujiFilm's widespread presence,with its screening devices and solutions already being utilized by over 25,000 medical institutions nationwide. This extensive adoption,combined with the exclusive partnership between Lunit and FujiFilm,solidifies CXR-AID's position and accelerates its growth across the country.

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About Lunit

With AI,Lunit aims to 'conquer cancer,' one of the leading causes of death worldwide. Lunit is an AI software company devoted to developing AI solutions for precision diagnostics and therapeutics,to find the right diagnosis at the right cost,and the right treatment for the right patients. Lunit,a portmanteau of 'learning unit,' is a deep learning-based medical AI company devoted to developing advanced medical image analytics and data-driven imaging biomarkers via cutting-edge technology.

Founded in 2013,Lunit has been acknowledged around the world for its advanced,state-of-the-art technology and its application in medical images. Its technology has been recognized at international AI competitions surpassing top companies like Google,IBM,and Microsoft. As a medical AI company with a focus on clinical evidence,the company's findings are presented in major peer-reviewed journals such as the Journal of Clinical Oncology and JAMA Network Open,and global conferences including ASCO and AACR.

After receiving FDA clearance and the CE Mark,Lunit INSIGHT CXR and MMG are clinically used in approximately 2,000 hospitals and medical institutions across more than 40 countries. Lunit is headquartered in Seoul,South Korea with offices and representatives around the world.