SK Networks Invests in Brain Disease Diagnosis and Treatment Company 'Elvis'

Janhanjong, Head of Global Investment Center at SK Networks (left), and Lee Jinhyung, CEO of Elvis, are taking a commemorative photo for the investment signing ceremony. Photo by SK Networks

[Asia Economy Reporter Ki-min Lee] SK Networks announced on the 11th that it will participate in the 'Series B-2' investment round of the brain circuit analysis company 'LVIS'.

LVIS is a brain disease diagnosis and treatment company located in Silicon Valley, USA, founded in 2013 by CEO Jin-Hyung Lee, the first Korean woman appointed as a professor at Stanford University. The company developed 'NeuroMatch,' an AI-based deep learning software that analyzes brain circuits to diagnose various brain diseases such as dementia and epilepsy and proposes optimal treatment methods. In addition, LVIS has established a unique competitive edge through over 20 patents and more than 140,000 accumulated medical data records collected over 13 years.

SK Networks explained that it highly values LVIS for creating new diagnostic and treatment solutions in the brain disease field based on its advanced technology. Unlike existing AI healthcare companies, LVIS is expected to expand its solutions to the diagnosis and treatment stages and grow into a Digital Neuro-health Platform that diagnoses all brain health. It is anticipated that the introduction of digital-based treatment methods will dramatically improve time and cost efficiency in the brain disease market. Meanwhile, SK Inc. also invested in LVIS in 2018.

SK Networks, which announced its transition to a business-type investment company in this year's New Year's address, selected DT/AI (Digital Transformation/Artificial Intelligence) as one of its global new seeding investment areas. Through this investment, SK Networks plans to expand its network in the field by leveraging the partnership with LVIS and seek additional investment opportunities. It is also expected that CEO Jin-Hyung Lee will provide advisory support.

Jung Han-jong, Head of SK Networks Global Investment Center, said, "AI is expected to be applied across almost all industries in the future, and the AI-based digital healthcare industry is projected to grow at an average annual rate of over 30% from 2020 to 2030." He added, "Although this investment is small, we plan to expand investments in companies with promising future technologies in the AI field through collaboration and advisory with LVIS."

This content was produced with the assistance of AI translation services.