Korean Multinational SK Telecom Invests In nanox, One Of The First Global Players To Join The nanox.vision Initiative

NEW YORK, June 18, 2019 /PRNewswire/ -- Today, nanox introduces its global "1x1x1 Initiative," which aims for at least one medical screening for each person on the planet each year. nanox.vision has seized leadership in preventive healthcare by putting early detection at its core, beginning with SK Telecom, which is making a strategic capital investment in nanox to commercialize its revolutionary technology. 

When detected early using medical imaging systems like CT scanners, cancer has a 70% - 99% survival rate, according to Marshfield Clinic Health System Foundation. However, the World Health Organization (WHO) estimates that two-thirds of the world's population does not have access to medical imaging systems at all, while the rest of the world has waiting times of weeks or even months for both screening appointments as well as diagnostics results.

nanox has achieved the first breakthrough in X-ray source technology since its discovery in 1895. This technology enables the creation of much smaller and cheaper devices that can be mass-deployed globally for total accessibility even in the most remote corners of the earth.

"I believe nanox is one of the most influential companies of our era. Their novel X-ray source can help save millions of lives each year and over a trillion US dollars in cancer-associated costs alone," said Kim Il-ung, President of SK Telecom's Hong Kong office. "SK Telecom has great interest in disruptive healthcare initiatives, and the nanox vision of democratizing medical screening to make it accessible and affordable is exactly where we believe we can make a real difference in improving the quality of human life. This is a strategic investment for us and we look forward to working with the incredible nanox team to shape the future of global digital healthcare."

"The nanox/SK Telecom agreement is one of the best examples of the power of cooperation between Korean and Israeli companies," said Chaim Choshen, Israel's Ambassador to the Republic of Korea. "I believe this particular deal could influence healthcare globally and I am happy to witness both companies joining forces for a better future for us all."

The problem
Medical imaging systems like CT scanners can cost a whopping US$3 million even before taking into account the high maintenance costs – a price well outside the reach of most healthcare systems. Most countries can only afford a few of these systems to service their entire population.

One of the key reasons behind the high cost is the underlying X-ray source technology, which has literally remained unchanged since its discovery in 1895. The use of thermionic (heat-based) electron streams to generate the X-rays requires reaching a temperature of 2,000 degrees, which in turn requires extremely complex cooling systems and mechanics to deal with the excessive heat. The vast majority of the cost goes to addressing these issues; an X-ray tube alone can cost anywhere between US$150,000 to US$500,000.

The solution
nanox has developed a new 5D X-ray source based on advanced nano MEMS technology that creates a stable X-ray stream at low voltage and at a fraction of the cost. For comparison, instead of a heated filament, nanox uses 100 million nano-cones that produce the electron stream without the use of heat. Moreover, this is a digital X-ray source vs. the legacy analog sources, thus providing even higher functionality and medical benefits, such as:

• Higher-quality images
• No motion artifacts
• Real-time 3D imaging
• Multi-spectral layering
• Digital sync with treatment tools

Most importantly, nanox's source enables a much smaller and cheaper system at a cost of circa US$10,000 per scanner vs. US$3,000,000. Such systems can be deployed globally and help achieve the "1x1x1" goal.

"If we manage to reach the 1x1x1 vision, we will be able to help save over 8 million people every year with regard to cancer alone," said Ran Poliakine, Founder of nanox. "This is the true democratization of healthcare, in which medical imaging will be accessible to all people globally and will cease to be the privilege of the few. We estimate that the economic savings will reach over US$1 trillion per year! That is an astonishing amount of money, which can now be diverted to better uses. The implications of our technology are beyond significant to humanity as a whole."

nanox's open-source ecosystem
nanox enters the market as a technology provider, co-developing with an ecosystem of world-leading medical business partners to maximize value and investments. nanox is committed to providing its imaging data and knowhow as an open source to all nanox.vision consortium partners. nanox drives business relationships united in bringing humanity towards the 1x1x1 vision, as nanox believes this cooperative approach allows all stakeholders to capture maximum value. Leading industry players are already part of nanox's ecosystem, committed to making medical screenings accessible and affordable for all. 

"For far too long, we have been on the defensive side of healthcare," said Hitoshi Masuya, CTO of nanox. "A 'cure' means corrective action is taken. If you need one, it is usually too late. We have decided to focus on the preventive side of healthcare; making early detection the key to our healthcare approach by solving the main inhibitor to X-ray accessibility for the masses was the breakthrough that now makes it all possible."

About nanox
nanox is an Israeli/Japanese cooperation that has created the world's first commercially available 5D non-CNT MEMs-based digital cold cathode X-ray source with a stationary anode that is usable in real-world applications.

About nanox.vision
nanox.vision is the global initiative led by nanox and world-leading healthcare players to drive the 1x1x1 vision of at least one medical screening for each person on the planet each year. The 1x1x1 Initiative is based on nanox's revolutionary MEMs X-ray source and encompassing ecosystem of partners to provide affordable, early detection for all. For more information, please visit www.nanox.vision.

About SK Telecom
SK Telecom is the largest mobile operator in Korea with nearly 50 percent of the market share. As the pioneer of all generations of mobile networks, the company has launched the fifth generation (5G) network on December 1, 2018. The company is not only leading innovations in the field of mobile network, but is also creating unprecedented value in areas such as media, security and commerce. In the Fourth Industrial Revolution, SK Telecom will inspire the world, building a future beyond expectations.

Media Contact:
Drew Pierson
Finn Partners for nanox
+1 212 529 4810
[email protected]

SOURCE nanox