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Description of the Business

The Company, based in California, US, is a developer of clinical diagnostic solutions for lung cancer enhanced by 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. The Company’s diagnostic solutions are designed to make significant improvements in the early detection of lung cancer.

The Company’s technology is comprised of rare-cell enrichment combined with blood-based biomarkers shown to be altered in lung cancer. The Company employs machine learning to identify informative cells from blood, and intends to build a deep, novel pool of lung cancer-related data for AI-enabled applications designed to improve test performance over time.

The Company’s diagnostic, the LungLB® test, is intended to be used as a tool to provide clinicians with additional information to help in the decision-making process for people with indeterminate lung nodules following a CT scan that may be lung cancer, of which there are estimated to be over 1.5M diagnosed each year in the United States. The LungLB® test may have a second utility in monitoring individuals for recurrence following surgical removal of the cancerous lung nodule. The Company believes that the LungLB® test will provide significant benefit when added to the clinical care pathway by both reducing the number of unnecessary invasive procedures and also by reducing delays in treatment from the “wait-and-see” pathways.

The Company has completed a pilot study to evaluate LungLB® and is now gearing up to proceed to a larger multi-center validation study ahead of seeking FDA approval for the test. Through collaboration with major cancer medical centers, the Company believes that it can effectively commercialize its products.

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