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LungLife AI - Half-year Report

September 9, 2021

9 September 2021

LungLife AI, Inc.
(the “Company” or “LungLife”)

Half-year Report

LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for the early detection of lung cancer enhanced by artificial intelligence, announces its maiden unaudited half-year report for the six months ended 30 June 2021 following admission to trading on AIM on 8 July 2021.

LungLife, based in California, USA, is a developer of clinical diagnostic solutions for the early detection of lung cancer from a simple blood draw, enhanced by artificial intelligence (“AI”). Lung cancer is one of the most lethal cancers, accounting for nearly a quarter of all cancer-related deaths in the US, and its global incidence has increased by 37% from 2007-2017.

Summary and Highlights:

  • H1 2021 Revenues of $107k which entirely relates to resale of FISH probes to the licensee of the LungLB technology in China
  • Loss before tax of $4.57m, after charging IPO costs of $2.1m. Adjusted EBITDA1 loss of $2.23m.
  • Admission to AIM & successful £17m (gross) fundraising at an issue price of 176p on 8 July 2021
  • Net proceeds to be used to complete its multi-centre pivotal validation studies and support progress towards regulatory authorisation and reimbursement
  • Since IPO:
    • CRO for clinical studies has been engaged
    • Actively seeking our first new hires: Directors of R&D and Quality and a Clinical Laboratory Scientist
    • On track for PLA code application
  • Targeting commercialisation of LungLB® in 2023

Commenting on outlook, Paul Pagano, Chief Executive Officer of LungLife, said: “Early detection is absolutely key to ensure better outcomes for people with lung cancer and we believe our LungLB® test will give physicians the additional information needed to identify this disease earlier and reduce its impact.

The funding provided through our AIM IPO allows us to proceed to a larger multi-centre pivotal validation study and secure regulatory authorisation and reimbursement support.  We are now laying the groundwork for successful implementation of our clinical programmes.”


  1. Earnings before income tax, depreciation and amortisation, adjusted to exclude exceptional item and other operating income

 Please click here to view the full announcement. 

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