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EQT, Hg and TA-owned IFS valued at EUR 15 billion in minority stake sale, following investment from Hg, ADIA and CPP Investments

  • Hg increases its stake in enterprise software provider IFS and becomes co-control shareholder alongside EQT, while existing minority shareholder TA Associates remains invested.
  • New investors in this transaction include a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and the Canada Pension Plan Investment Board (“CPP Investments”)
  • IFS continues to perform strongly, having recently surpassed EUR 1 billion in ARR while growing by more than 30% year-on-year.

STOCKHOLM, April 9, 2025 /PRNewswire/ — IFS, a leading provider of cloud enterprise software and Industrial AI applications, announces it has achieved a valuation of over EUR 15 billion following a significant pivot to AI-driven growth. The valuation comes as Hg increases its stake to become a co-control shareholder alongside EQT, with TA Associates (“TA”) remaining as minority shareholder. New minority shareholders also include a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and the Canada Pension Plan Investment Board (“CPP Investments”). Hg and the new investors are acquiring shares in IFS from EQT, which is selling through its EQT VIII and EQT IX funds, as well as from TA and other minority investors.

The transaction follows many successful years of growth for IFS, delivering more than EUR 1 billion in ARR (“annual recurring revenue”) last year. Total revenue for 2024 was over EUR 1.2 billion, with some of the world’s largest industrial companies choosing IFS over legacy vendors. Demand for IFS’s industrial AI capabilities has increased significantly over the past 12 months as organizations across IFS’s focus industries of Aerospace & Defence, Engineering & Construction, Energy & Utilities, Manufacturing, Telco and Service, continue to realise the rapid and transformative value that IFS.ai delivers. IFS will continue to expand its capabilities with the industrial application of generative and agentic AI, so that customers can automate workflows, improve efficiency and deliver amazing moments of service to their own customers.

Over the past year, IFS added 350 new customers including Exelon who adopted IFS to streamline asset maintenance across its energy grid, Rolls-Royce who is using IFS to transform service delivery of its Power Systems business, and Total Energies who is deploying IFS as the single platform for management and servicing of its global operated asset portfolio. Moreover, an increasing number of large businesses are moving to IFS which is reflected in the average deal size of IFS’s largest customers increasing by 64% year-on-year.

Mark Moffat, CEO of IFS, said: “IFS’s success and sustained growth is centred around a commitment and track record of rapidly delivering business value to our customers. We have a differentiated proposition that continues to drive momentum in the industrial setting, specifically with the agentic and generative capabilities of IFS.ai, which enables us to be the technology of choice for the businesses that service, power and protect our planet.” Moffat continued: “The investment and continued commitment from Hg, EQT and TA will help IFS further accelerate our journey to be the undisputed category leader of Industrial Software.”

Johannes Reichel, Partner and Co-Head of Technology in the EQT Private Equity advisory team, added: “EQT’s relationship with IFS started in 2015 and it has been remarkable to see the company’s growth since then. Starting as a software vendor focused on Northern Europe, IFS has become a global provider of enterprise solutions while embracing the power of AI for the benefit of its industrial clients. It’s a prime example of EQT’s ability to ‘run with the winners’, where we partner with management teams over the long-term to scale regional players into global champions. We are excited to work alongside Hg to continue supporting IFS through this next phase.”

Nic Humphries, Senior Partner and Head of the Saturn funds at Hg, commented: “With 20 years’ experience investing in software, we recognise exceptional businesses when we see them. Our increased investment in IFS reflects our conviction in their long-term vision and strong execution, which enables their customers’ digital transformation.” Jonathan Wulkan, Partner at Hg, added: “Since our initial partnership in 2022 alongside EQT, Mark and the team have not only delivered impressive and consistent growth but have emerged as a global leader in Industrial AI – translating the promise of AI into practical solutions that drive efficiency and sustainability for essential industries, with significant potential for continued growth.”

Naveen Wadhera, Managing Director at TA, commented: “IFS’s exceptional leadership, strong execution, and transformative AI capabilities are redefining what’s possible in enterprise software. We remain confident in the company’s vision and are excited to be part of its continued journey.”

The transaction is subject to customary regulatory approvals and is expected to complete end of Q2 2025. IFS and selling shareholders were advised by Arma Partners and White & Case, EQT was also advised by Evercore, and Hg was advised by Morgan Stanley & Co. plc and Skadden.

Contact
EQT Press Office, press@eqtpartners.com

Hg
Tom Eckersley, tom.eckersley@hgcapital.com 
Sam Ferris, sam.ferris@hgcapital.com

TA
Maggie Benoit, mbenoit@ta.com

IFS
EUROPE / MEA / APJ: Adam Gillbe, adam.gillbe@ifs.com 
NORTH AMERICA / LATAM: Mairi Morgan, mairi.morgan@ifs.com

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https://news.cision.com/eqt/r/eqt–hg-and-ta-owned-ifs-valued-at-eur-15-billion-in-minority-stake-sale–following-investment-from-,c4133272

The following files are available for download:

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PR_EQT, Hg and TA-owned IFS valued at EUR 15 billion_09.04.25

https://news.cision.com/eqt/i/ifs,c3397176

IFS

 

Massimo Group CFO, Dr. Yunhao Chen, to Speak as Guest Panelist at the SEC’s 44th Annual Small Business Forum

Dr. Yunhao Chen will join SEC Commissioners and other thought leaders in the annual forum focused on financial reporting and capital raising policies affecting small businesses.

GARLAND, Texas, April 9, 2025 /PRNewswire/ — Massimo Group (NASDAQ: MAMO) (“Massimo” or the “Company”), a manufacturer and distributor of powersports vehicles and pontoon boats, today announces that Dr. Yunhao Chen, the Chief Financial Officer of Massimo, will participate in a panel discussion on Thursday, April 10, 2025, at the Securities and Exchange Commission’s 44th Annual Government-Business Forum on Small Business Capital Formation.

Dr. Chen will be featured in a 3:30 p.m. ET panel discussion titled, “Small Cap Playbook: Entering and Advancing in the Public Market Arena.” Dr. Chen will be joined by moderator Sebastian Gomez Abero, Acting Deputy Director of the SEC’s Division of Corporation Finance, and co-panelist David Lynn, a securities attorney at the law firm Goodwin Procter LLP.

Held at the SEC Headquarters in Washington D.C. from 1 p.m.5:30 p.m. ET, the forum will include appearances by SEC Commissioners and discussions with thought leaders from across the small business ecosystem on capital raising by early- to late-stage private companies and smaller public companies. Organized by the Office of the Advocate for Small Business Capital Formation, the forum brings members of the public and private sectors together to collaborate and provide suggestions to improve policy affecting how entrepreneurs, small businesses, and smaller public companies raise investment capital.

Prior to joining Massimo Group as its CFO, Dr. Chen led another Nasdaq-listed company through its IPO process, raised over $80 million, oversaw the company’s financial reporting, accounting investor relations and capital markets functions. She holds a Ph.D. in accounting, an MBA in finance, has taught at several universities, presented and published research results in accounting and finance journals, and has served on the boards of several public companies.

The SEC’s Small Business Forum, which was hosted virtually from 2020-2024, returns to an in-person format while also continuing to allow for virtual attendance so individuals unable to attend can participate. Registration information and a full agenda is available on SEC.gov.

About Massimo Group

Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor of powersports vehicles and pontoon boats. Founded in 2009, Massimo Motor believes it offers some of the most value packed UTV’s, off-road, and on-road vehicles in the industry. The company’s product lines include a wide selection of farm and ranch tested utility UTVs, recreational ATVs, and Americana style minibikes. Founded in 2020, Massimo Marine manufactures and sells Pontoon and Tritoon boats with a dedication to innovative design, quality craftsmanship, and great customer service. Massimo Group is also developing electric versions of UTVs, golf carts and pontoon boats, all of which are currently available for sale. The company’s 376,000-square-foot factory is in the heart of the Dallas / Fort Worth area of Texas in the city of Garland. For more information, visit massimomotor.com and massimomarine.com .

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to Massimo. All statements other than statements of historical facts contained in this press release, including statements regarding Massimo’s future results of operations and financial position, Massimo’s business strategy, prospective costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated operations of Massimo are forward-looking statements. In some cases, forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “predict,” “project,” “target,” “potential,” “seek,” “will,” “would,” “could,” “should,” “continue,” “contemplate,” “plan,” and other words and terms of similar meaning. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, risks relating to Massimo which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth economically and hire and retain key employees; costs; changes in applicable laws or regulations; the possibility that Massimo may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties, including those under “Risk Factors” in filings with the SEC made by Massimo. Moreover, Massimo operates in very competitive and rapidly changing environments. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Massimo’s control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. No assurance can be given regarding the forward-looking statements, and actual results may differ materially from those as indicated. Massimo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

Company
Dr. Yunhao Chen
Chief Financial Officer
Massimo Group
ir@massimomotor.com

Corporate Communications
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000
Editor@InvestorBrandNetwork.com

IFS Attracts EUR 15 billion Valuation as Demand for Industrial AI Soars

  • Hg increases its stake in enterprise software provider IFS and becomes co-control shareholder alongside EQT, while existing minority shareholder TA Associates remains invested
  • New investors in this transaction include a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and the Canada Pension Plan Investment Board (“CPP Investments”)
  • IFS continues to perform strongly, having recently surpassed EUR 1 billion in ARR while growing by more than 30% year-on-year

STOCKHOLM and LONDON, April 9, 2025 /PRNewswire/ — IFS, a leading provider of cloud enterprise software and Industrial AI applications, announces it has achieved a valuation of over EUR 15 billion following a significant pivot to AI-driven growth. The valuation comes as Hg increases its stake to become a co-control shareholder alongside EQT, with TA Associates (“TA”) remaining as minority shareholder. New minority shareholders also include a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and the Canada Pension Plan Investment Board (“CPP Investments”). Hg and the new investors are acquiring shares in IFS from EQT, which is selling through its EQT VIII and EQT IX funds, as well as from TA and other minority investors.

The transaction follows many successful years of growth for IFS, delivering more than EUR 1 billion in ARR (“annual recurring revenue”) last year. Total revenue for 2024 was over EUR 1.2 billion, with some of the world’s largest industrial companies choosing IFS over legacy vendors. Demand for IFS’s industrial AI capabilities has increased significantly over the past 12 months as organizations across IFS’s focus industries of Aerospace & Defense, Engineering & Construction, Energy & Utilities, Manufacturing, Telco and Service, continue to realize the rapid and transformative value that IFS.ai delivers. IFS will continue to expand its capabilities with the industrial application of generative and agentic AI, so that customers can automate workflows, improve efficiency and deliver amazing moments of service to their own customers.

Over the past year, IFS added 350 new customers including Exelon who adopted IFS to streamline asset maintenance across its energy grid, Rolls-Royce who is using IFS to transform service delivery of its Power Systems business, and Total Energies who is deploying IFS as the single platform for management and servicing of its global operated asset portfolio. Moreover, an increasing number of large businesses are moving to IFS which is reflected in the average deal size of IFS’s largest customers increasing by 64% year-on-year.

Mark Moffat, CEO of IFS, said:
“IFS’s success and sustained growth is centred around a commitment and track record of rapidly delivering business value to our customers. We have a differentiated proposition that continues to drive momentum in the industrial setting, specifically with the agentic and generative capabilities of IFS.ai, which enables us to be the technology of choice for the businesses that service, power and protect our planet.” Moffat continued: “The investment and continued commitment from Hg, EQT and TA will help IFS further accelerate our journey to be the undisputed category leader of Industrial Software.”

Johannes Reichel, Partner and Co-Head of Technology in the EQT Private Equity advisory team, added:
“EQT’s relationship with IFS started in 2015 and it has been remarkable to see the company’s growth since then. Starting as a software vendor focused on Northern Europe, IFS has become a global provider of enterprise solutions while embracing the power of AI for the benefit of its industrial clients. It’s a prime example of EQT’s ability to “run with the winners”, where we partner with management teams over the long-term to scale regional players into global champions. We are excited to work alongside Hg to continue supporting IFS through this next phase.”

Nic Humphries, Senior Partner and Head of the Saturn funds at Hg, commented:
“With 20 years’ experience investing in software, we recognise exceptional businesses when we see them. Our increased investment in IFS reflects our conviction in their long-term vision and strong execution, which enables their customers’ digital transformation.” Jonathan Wulkan, Partner at Hg, added: “Since our initial partnership in 2022 alongside EQT, Mark and the team have not only delivered impressive and consistent growth but have emerged as a global leader in Industrial AI – translating the promise of AI into practical solutions that drive efficiency and sustainability for essential industries, with significant potential for continued growth.”

Naveen Wadhera, Managing Director at TA, commented:
“IFS’s exceptional leadership, strong execution, and transformative AI capabilities are redefining what’s possible in enterprise software. We remain confident in the company’s vision and are excited to be part of its continued journey.”

The transaction is subject to customary regulatory approvals and is expected to complete end of Q2 2025. IFS and selling shareholders were advised by Arma Partners and White & Case, EQT was also advised by Evercore, and Hg was advised by Morgan Stanley & Co. plc and Skadden.

For further information, please contact:

EQT
press@eqtpartners.com

Hg
Tom Eckersley, tom.eckersley@hgcapital.com
Sam Ferris, sam.ferris@hgcapital.com

TA
Maggie Benoit, mbenoit@ta.com

IFS
EUROPE / MEA / APJ: Adam Gillbe, adam.gillbe@ifs.com
NORTH AMERICA / LATAM: Mairi Morgan, mairi.morgan@ifs.com

About EQT

EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, YouTube and Instagram

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ifs/r/ifs-attracts-eur-15-billion-valuation-as-demand-for-industrial-ai-soars,c4133488

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Financial Release: JOY GROUP Achieves 36% Revenue Growth to Reach US$483M in 2024 with Growth from Multi Beauty Categories

SHANGHAI, April 9, 2025 /PRNewswire/ — JOY GROUP (Shanghai Juyi Cosmetics Co., Ltd.) has announced its financial results for the 2024 fiscal year, achieving total sales exceeding US$580M (RMB 4.2B), and annual revenue reaching US$483M (RMB 3.5B), representing a year-on-year growth of 36%. JOY GROUP has consistently delivered double-digit growth while maintaining healthy profitability.

Products of JOY GROUP
Products of JOY GROUP

In 2024, JOY GROUP delivered significant growth across multiple beauty categories. Within makeup category, JOY has become the No.1 domestic company in market share in China. JUDYDOLL is the No.1 makeup brands in China in terms of sales volume. The brand surpassed US$345M (RMB 2.5B) in annual retail sales, marking a 23% year-on-year increase.

In haircare category, JOY GROUP has taken over full operations of René Furterer, a prestige French haircare brand founded in 1957, in China since January 1, 2024. The brand achieved strong growth in the first year of operation, most notably a 72% revenue surge in the second half, backed by JOY’s local insights and market execution.

The company continues to strengthen its omnichannel strategy. In addition to its ecommerce operation with direct-to-consumer approach, it operates 80+ standalone brand boutiques for all three brands in China, and a presence in over 15,000 retail outlets.

Allan Liu, Chairman & CEO of JOY GROUP, stated: “In 2024, we successfully expanded from makeup into haircare, and from mass to premium markets. The 2024 result strongly validates our multi-brand strategy across categories and price segments. Moving forward, we will continue to expand our brand portfolio through strategic initiatives including M&A efforts and incubation. We believe the portfolio strategy would fuel the long-term growth of JOY. “

Building on JOY’s domestic success in China, the Group remains committed to its globalization strategy. In 2024, JOY GROUP’s overseas business grew by over 400%, expanding its reach to 30+ countries through ecommerce and retail.

JOY GROUP is a multi-brand beauty company on a mission to “Create a world of beauty that brings joy to everyone.” The Group’s portfolio includes JUDYDOLL, JOOCYEE, and René Furterer (China operations), covering various beauty sectors, including makeup and haircare. In recognition of its strong market performance, JOY was once again listed in the esteemed WWD Beauty Inc. Top 100 in 2024, ranking 70th.

To learn more about JOY GROUP, visit www.joy-group.com

SUPCON’s AI-Powered Full-stack Industrial Automation Solutions Shine at Hannover Messe 2025

HANNOVER, Germany, April 9, 2025 /PRNewswire/ — From March 31 to April 4, — the world’s leading trade fair for industrial technology — was held at the Hannover Exhibition and Trade Center in Germany. Under the theme “Energizing a Sustainable Industry,” the event attracted nearly 127,000 professional visitors from 150 countries and over 4,000 exhibiting companies from all over the world. As a global pioneer in industrial AI, SUPCON showcased its disruptive innovations and proven applications in the process industry, drawing strong attention from industry leaders worldwide.

SUPCON Expands Global Collaboration Through AI Solutions

Throughout the exhibition, SUPCON’s booth stood out as a major attraction at the event. Notable visitors included representatives from leading international organizations such as the Singapore Economic Development Board (EDB), LG Group, ARC Advisory Group, and Bank of America. SUPCON’s expert team engaged in in-depth discussions with global partners on AI-driven intelligent manufacturing solutions, real-world deployment of AI technologies, and industrial ecosystem collaboration. These exchanges led to multiple strategic cooperation intentions, further reinforcing SUPCON’s global technology ecosystem and highlighting the international competitiveness of SUPCON’s solutions.

Full-stack Solution in Focus

SUPCON's Full-stack Industrial Automation Portfolio
SUPCON’s Full-stack Industrial Automation Portfolio

SUPCON’s exhibition booth covered a total area of 36 square meters and featured a high-tech-density, modular layout. The space comprehensively showcased core products and solutions, including UCS, TPT, REMOTE I/O+DCS, SIS+PLC, ROBOTICS, and Analyzers modules. Each section was equipped with informative panels and interactive displays, offering a systematic presentation of SUPCON’s technological capabilities and innovation in full-stack industrial automation.

Under the theme of AI-powered Full-stack Industrial Automation, SUPCON unveiled five flagship solutions that form a complete industrial automation stack—from data sensing and intelligent control to system-level decision-making:

UCS (Universal Control System): leverages a data center, all-optical deterministic networks, and intelligent devices to establish a new “cloud-network-edge” minimalistic architecture, addressing the three major challenges of control systems in the AI era: data, computing power, and algorithms. It features Software-defined, Total Digitalized, and Cloud-based characteristics. UCS is driving the industry’s transition to “AI-driven autonomous operation,” accelerating the evolution of smart manufacturing.

TPT (Time-series Pre-trained Transformer): An industrial-grade generative AI model trained on massive amounts of industrial data, empowering equipment to perform expert-level autonomous reasoning and optimization. It has achieved breakthrough applications in multiple units across the chlor-alkali, thermal power, and petrochemical sectors, driving significant improvements in efficiency, productivity, quality, and safety.

The PLANTBOT robotic solution: A purpose-built collaborative robotics ecosystem for segmented scenarios in the process industry. It enables intelligent automation for equipment inspection and supply chain optimization, redefining safety in industrial operations.

SOLISCADA: A high-performance SCADA platform software enabling large-scale real-time data acquisition, analysis, and visualization. Deployed in sectors like oil & gas, pharmaceuticals, energy, and manufacturing, it boosts efficiency and safety in industrial operations.

Hobré Intelligent Gas Analyzer: Delivers real-time, high-precision, and stable gas analysis to optimize energy efficiency and reduce emissions, making it a vital tool for industrial intelligence and process optimization.

Global Expansion for a Sustainable Industrial Future

This exhibition launches a new initiative in SUPCON’s internationalization strategy. At Hannover Messe 2025, SUPCON’s Full Stack Industrial Automation Solutions—powered by AI technologies such as UCS and TPT—drew significant global attention. Related press coverage during the event was syndicated by major international outlets, including the Associated Press, underscoring the worldwide appeal of SUPCON’s industrial AI innovations.

Looking ahead, SUPCON will continue to increase its R&D investment in industrial AI, strengthen collaboration with global clients and partners, and further advance technical cooperation worldwide — aiming to support global industrial digital transformation and generate measurable value for customers through cutting-edge AI technologies.

BingX Blends Web3 with Sports at the 2025 Pickleball Open in Vietnam

PANAMA CITY, April 9, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, served up a fresh spin on community engagement with the BingX Pickleball Open Tour 2025, fusing the fast-growing sport of pickleball with the vibrant energy of the Web3 community. In collaboration with Pickleball Country Club (PCC), BingX co-hosted this event at Tana Sport in Vietnam on March 29, attracting over 267 players across 151 teams, and drawing more than 100 attendees, including national athletes and local celebrities.

BingX Blends Web3 with Sports at the 2025 Pickleball Open in Vietnam
BingX Blends Web3 with Sports at the 2025 Pickleball Open in Vietnam

Pickleball is a paddle sport combining elements of tennis, badminton, and ping-pong, played with paddles and a perforated plastic ball on a badminton-sized court with a modified tennis net. It is gaining popularity worldwide due to its accessibility, low-intensity nature, and social appeal, fueled by social media and influencer trends, with countries like Singapore, Malaysia, and Vietnam seeing significant growth.

This pickleball competition featured a total prize pool of 400 million VND, with rewards distributed across various formats such as Web3 Mixed Doubles and Open Men’s Doubles, among others. Winners walked away with cash awards, pickleball gear, travel luggage, and other exclusive gifts sponsored by BingX. This event catered to various skill levels with competition brackets designed around Dynamic Universal Pickleball Rating (DUPR), making it accessible to both casual and experienced players. Categories such as Women’s Doubles 5.5 and Mixed Doubles Open allowed for flexible participation, reinforcing inclusivity across the tournament.

The event spotlighted 42 champions and welcomed high-profile participants such as Nathan Willis, Sophia Phuong Anh, and Jessie Luong, adding star power to the already high-spirited tournament.

“Our goal with this event was to create a space where BingX users could connect in real life while sharing common interests beyond trading”, said Alex Nguyen, BingX’s spokesperson for Vietnam. “We saw traders, athletes, and fans all in one place, from Web3 doubles teams to beginner players discovering the sport. It’s exactly the kind of community-driven experience we want to keep supporting, and we’re thrilled to see such a positive response.”

The event wasn’t just a tournament, it was a celebration of culture, community, and the evolving crypto lifestyle. It not only elevated the event’s profile but also underscored BingX’s commitment to building meaningful, real-world connections through shared passions like sport. This initiative reflects its broader vision: to redefine user engagement by blending blockchain innovation with vibrant, offline experiences that bring the Web3 community closer together.

About BingX 

Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/

Seegene Announces Development of CURECA™, a Next-Generation Fully Automated PCR Solution Featuring Customizable Pre-treatment Automation

– Seegene to showcase a conceptual video introducing CURECA™ at ESCMID Global 2025 — a full automation system expected to cover the entire PCR workforce, from sample pre-processing to result analysis.
Designed for 24-hour, seven-days-a-week, unattended, CURECA™ reflects the company’s mission to set a new global standard and advance its vision of “a world free from all diseases.”

SEOUL, South Korea, April 9, 2025 /PRNewswire/ — Seegene Inc., a global leader in molecular diagnostics (MDx), is advancing its vision for innovation in laboratory automation with the development of CURECA™ — a next-generation system currently under development, designed to streamline automation in Polymerase Chain Reaction (PCR) testing and laboratory environments.

Seegene’s CURECA™ concept video, showcasing the brand identity of the next-generation automated PCR system to be unveiled at ESCMID Global 2025.
Seegene’s CURECA™ concept video, showcasing the brand identity of the next-generation automated PCR system to be unveiled at ESCMID Global 2025.

The company announced today that it will showcase a conceptual video introducing the CURECA™ system at the European Society of Clinical Microbiology and Infectious Diseases (ESCMID Global 2025), held April 11-15 in Vienna, Austria. The video will outline the system’s design goals and envisioned workflow. A physical demonstration of the system is expected to take place in July 2025 at the Association for Diagnostics & Laboratory Medicine (ADLM 2025) in Chicago.

CURECA™ — short for Continuous Unlimited Random access Expandable and Customizable full Automation — is Seegene’s envisioned PCR testing solution, intended to enable full automation of the PCR testing workflow. The system is expected to include two core components: the Customizable Pre-treatment System (CPS), responsible for sample loading and pre-treatment processing; and Customizable and Expandable Full Automation (CEFA), which would carry out sample loading and preparation for nucleic acid extraction, PCR setup, gene amplification, and result analysis.

Pioneering Full Automation of PCR Pre-treatment Processing

The pre-treatment stage in MDx requires careful handling of various specimen types — such as stool, urine, blood, and sputum — as well as sorting different container formats. Traditionally, this process has relied heavily on manual labor by trained laboratory professionals.

Seegene aims to lead innovation in automating pre-treatment processing for all PCR specimen types through the development of CPS. The system is designed to automate key steps such as sample sorting, centrifugation, vortexing and heat treatment. CPS may also operate independently of the full CURECA™ system and be applied to other laboratory testing areas such as hematology, biochemistry, and immunodiagnostics — broadening its potential utility in clinical laboratory workflows.

The modular design of CURECA™ is intended to provide laboratories with flexibility to configure the system according to their operational needs. By supporting automation across the full workflow, the system aims to help reduce the risk of human error and enable continuous, high-throughput PCR testing 24 hours a day, seven days a week.

At ESCMID Global 2025, Seegene will present a conceptual video simulating the full PCR automation workflow — from sample loading and pre-treatment processing to nucleic acid extraction, PCR setup, gene amplification, and result analysis. The presentation will further highlight the system’s adaptability across different laboratory environments and testing capacities.

CURECA™ to Support Seegene’s Vision of “a World Free from All Diseases”

“Until now, there has been no system capable of fully automating pre-treatment processing for all specimen types, which has prevented true automation in MDx,” said Dr. Jong-Yoon Chun, founder and CEO of Seegene. “We aim to define a new global benchmark and help reshape the future of MDx.”

Dr. Chun also noted that CURECA™ is envisioned to support Seegene’s global technology-sharing initiative, which aims to make advanced MDx more accessible and better integrated into everyday healthcare around the world. “CURECA™ marks an early step toward advancing Seegene’s vision of creating ‘a world free from all diseases.’ We will continue to lead through innovation and global collaboration to drive this vision ahead.”

Seegene to Highlight “Redefining MDx” at ESCMID 2025

Seegene will present its syndromic real-time PCR assay portfolio under the theme “Redefining MDx” at ESCMID Global 2025, including validated testing solutions currently in use. The company will also host symposium sessions during the conference, exploring the evolving role of MDx in addressing antimicrobial resistance (AMR) and shifting diagnostic needs in the post-COVID-19 era. Featured assays, such as Drug Resistance (Entero DR) and Sexually Transmitted Infection–Antimicrobial Resistance (STI-AMR), are designed to support more informed and timely treatment decisions.

About Seegene

Seegene has more than 20 years of dedicated experience in R&D, manufacturing, and business related to syndromic real-time PCR technologies. This expertise was particularly highlighted during the COVID-19 pandemic when Seegene provided over 340 million COVID-19 tests to more than 100 countries worldwide. The core feature of Seegene’s syndromic real-time PCR technology is the ability to simultaneously test for 14 pathogens that cause similar symptoms in a single tube with quantitative information.

Visit: Seegene.com and follow linkedin.com/company/seegene-inc

Technology-sharing Initiative

The technology-sharing initiative aims to globally share Seegene’s advanced diagnostic and data analysis technologies, including syndromic real-time PCR and an automated product development system (SGDDS), with a leading company partnered in each country. Partnering companies will collaborate with local scientists and experts to develop diagnostic tests tailored to the needs of their communities and fields, spanning a wide range of human and non-human diseases. The initiative’s ultimate vision is to create “a world free from diseases”— a future where people no longer suffer from infectious diseases and cancer, and where animals and plants thrive without illness.

Lunit Study in Radiology Highlights Trust Gap Between Radiologists and AI in Breast Cancer Screening

Despite strong performance from AI, fewer recalls from AI-flagged cases point to challenges in human-AI collaboration

SEOUL, South Korea, April 9, 2025 /PRNewswire/ — Lunit (KRX:328130.KQ), a leading provider of AI-powered solutions for cancer diagnostics and therapeutics, today announced the publication of a new study in Radiology (RSNA’s flagship journal), highlighting how radiologists interact with AI in real-world breast cancer screening.

Lunit’s AI identified more cancers, but radiologists recalled fewer of those cases—highlighting a trust gap in clinical decision-making.
Lunit’s AI identified more cancers, but radiologists recalled fewer of those cases—highlighting a trust gap in clinical decision-making.

The study, based on the prospective ScreenTrustCAD trial, is the first large-scale, population-based trial to evaluate how radiologists interact with AI in an operational breast cancer screening setting. Conducted at Capio St Göran Hospital in Stockholm, Sweden, the trial enrolled about 55,000 women and implemented Lunit INSIGHT MMG as an independent third reader alongside two radiologists.

The findings suggest that radiologists were significantly less likely to recall patients flagged by AI—even though those cases were more likely to be cancerous—pointing to a trust gap between human clinicians and AI tools.

“This study isn’t just about how well the AI performs—it’s about what happens when AI enters the decision-making process,” said Brandon Suh, CEO of Lunit. “The findings point to a gap between AI input and human response, and that’s where real-world impact is made or lost.”

Human-AI Collaboration

The study showed that:

  • When only AI flagged a case, just 4.6% were recalled by radiologists.
  • When only a radiologist flagged a case, 14.2% were recalled.
  • When two radiologists flagged a case, 57.2% were recalled—but when AI and one radiologist both flagged it, the recall rate dropped to 38.6%.

Despite being blinded to AI scores during the initial review, radiologists consistently recalled fewer patients from AI-flagged cases—raising questions about how AI findings are weighed in clinical judgment.

“This isn’t a question of whether AI can detect cancer. It’s about how AI findings are interpreted and acted on by the people making clinical decisions,” said Dr. Karin Dembrower, lead author of the study and radiologist at Karolinska Institutet.

Clinical Performance of Lunit INSIGHT MMG

While the study’s central focus was on decision-making dynamics, it also confirmed the strong diagnostic performance of Lunit INSIGHT MMG:

  • Among women recalled after screening, 22% of AI-only flagged cases were diagnosed with cancer.
  • In contrast, just 3.4% of single-radiologist flags and 2.5% of two-radiologist flags resulted in a cancer diagnosis.
  • When both AI and one radiologist flagged a case, the cancer yield was highest at 25%.

These results highlight AI’s ability to detect cancers that may go unnoticed in standard double-reading workflows—particularly in early or less obvious presentations.

These findings suggest that while the AI system correctly identified high-risk cases, many of those cases were not recalled by radiologists—indicating a potential gap in trust or confidence in AI-generated findings.

“The AI clearly shows strong diagnostic performance,” Suh added. “What this study reveals is that realizing that potential in daily clinical practice depends on how AI and humans work together.”

Access the full study published in Radiology here.

About Lunit

Founded in 2013, Lunit (KRX:328130.KQ) is a medical AI company on a mission to conquer cancer through AI. Lunit harnesses AI-powered medical image analytics and biomarker analysis to ensure accurate diagnosis and optimal treatment for each cancer patient. The FDA-cleared Lunit INSIGHT suite for cancer screening serves over 4,800 medical institutions across 55+ countries. Lunit clinical studies have been published in top journals, including the Journal of Clinical Oncology and the Lancet Digital Health, and presented at global conferences such as the ASCO and RSNA. Headquartered in Seoul, South Korea, with a network of offices worldwide, Lunit leads the global fight against cancer. Discover more at lunit.io.