A Better Approach to Breast Imaging

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Security Type
Common Stock
Min Investment
Offering Date
August 01, 2022
Expected Close Date
December 30, 2022
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Company Description

At Koning Health, we designed a breast-only CT scanner for highly accurate early detection of breast cancer without the uncomfortable compression of mammograms. Our highly detailed 3D imaging aims to detect cancer at its earliest stages, preventing the need for tedious recovery processes and potentially saving the lives of millions.


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$489+ Investment
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$1,000+ Investment
Mention on website, newsletter access

$5,000+ Investment
Free exam at Koning Headquarter Clinic

$25,000+ Investment
2 free exams + Zoom call with founders

Key Deal Facts

Lifesaving technology: Our technology detects tumors as small as 2 millimeters and calcifications as small as 2 microns, allowing for the diagnosis of Stage 0 and 1 cancers before they can spread while they still have a 99%+ five-year survival rate.

Regulatory approval: The US market for breast imaging is preparing for rapid expansion, with 6 dedicated CT CPT codes that went into effect in 2021 providing reimbursements to private and public payers (AMA, CMS).

Seasoned management team with significant fundraising experience: 
We have raised $55 million to date through venture funding, and $2.5 million on Republic.com, demonstrating a proven track record for raising funds. We have signed agreements with several new hospitals and clinics for installations in the upcoming year.

Management Team / Advisory Board Bios

Lutao Ning

Chief Executive Officer & Director

Lutao Ning holds an MBA from INSEAD and graduated magna cum laude from Duke University with a BSE in Biomedical Engineering and a Markets and Management Certificate. As a core member of the technology, media and telecom practice area of Boston Consulting Group, he has led case teams for major technology, medical device, and pharmaceutical clients in topics ranging from product development, organizational design, and corporate development. In 2013, he led the effort for the Board of Directors of Dell in the, then, largest take-private transaction in history.

Lutao has worked as an advisor to Koning in business strategies since its inception. His contributions formed the basis of the operations plan and financial forecast. He is now the CEO of Koning US and COO of Koning Global, where he is in charge of business operations, financing, human resources, government relations and regulatory approval.

Ruola Ning

Founder and Global Chairman of the Board

Dr. Ruola Ning is a graduate of the University of Utah with an MS and Ph.D. in Electrical Engineering. He is a Professor of Imaging Sciences, and Electrical & Computer Engineering at the University of Rochester, and the inventor of over 80 issued patents for medical imaging technology. He has published and presented over 120 scientific papers at conferences and in peer reviewed journals and has accumulated over twenty years of experience in Cone Beam CT and has been awarded over $11 million in research grants from the National Institutes of Health at University of Rochester.

As a true visionary in his field, Dr. Ning has positioned Koning Corporation to become the commercial leader in Cone Beam CT Technology while continuing to lead his world renowned scientific team in Cone Beam CT research. Dr. Ning was the recipient of the Inventor of Year 2015 grant prize by The Rochester Intellectual Property Law Association (RIPLA). He holds an American Board of Radiology (ABR) Certificate in Diagnostic Radiologic Physics.

Matthew Stack

Chief Financial Officer

Matthew Stack is the Chief Financial Officer at Koning Corporation. Matt’s prior experiences include managing acquisitions for a $120M corporate-led technology buyout fund in Palo Alto, as well as spending six years at The Boston Consulting Group in the Boston and New York offices, where he worked on projects in the Health Care, IT, Retail, Industrial Goods, and Strategy practice areas. Before BCG, Matt co-founded and invested in a healthcare software startup, a small electronics company, an advanced composites design firm, and a semiconductor distribution company that traded high performance semiconductor chips between Shenzhen, Tokyo, and Tecate. Matt has also served as the Director of Computational Science at Mars Corporation.
Matt holds a B.S.E. in electrical engineering from Princeton University. He is a benefactor and sponsor of the TEDx conference series, and has sponsored research at the Santa Fe Institute in New Mexico, the Strategy Institute in New York, MIT’s Broad Institute, the Highlands Forum, the University of Oxford, and the Department of Defense.

David Georges

US President

David Georges has been a global business leader in Breast Imaging for the past twenty-five years, contributing to the introduction and substantial market growth of innovative products dedicated to the early detection of breast cancer including mammography, breast biopsy, computer aided detection, breast ultrasound and automated breast ultrasound. David has established manufacturing sites, supported luminary sites for new product introduction, and established physician and technologist training centers. He has held senior executive positions in companies such as Transworld, Lorad, Hologic, R2, SuperSonic Imagine, iVu and U-systems; the latter of which was purchased by GE.
Since joining Koning, David has led the effort to move the company from a Research and Development group to one that is prepared for commercializing Koning’s KBCT. David’s industry relationships have introduced opportunities to establish critically important luminary partners. With a knowledge of global distribution, David has expanded the Koning installation base to Thailand, Qatar, and Netherlands.

Naomi Cosman

VP of Marketing

Naomi Cosman is the Vice President of Marketing for Koning and was brought onto the Koning team to implement and direct a clear marketing strategy. She oversees all marketing initiatives including PR, social, creative, website, campaign creation and implementation, and more. 
After graduating from the University of Wisconsin-Madison early with a double major (Communications and French), Naomi received a Certificate of Integrated Marketing from NYU and a Certificate of Business from Harvard Business School. Naomi spent five years in a Fortune 500 company focusing on branding, brand alignment across teams, and campaign launches. She spent another five years working with various startups across multiple sectors, which ultimately led her to Koning Health. 
Naomi works with the rest of Koning’s leadership to build on previous marketing work. She brings a unique perspective to the company with the goal of increasing Koning’s overall brand awareness, public outreach and communications - all in a way worthy of a revolutionary women’s healthcare company. 

Ty Cowart

Senior Director of Global Regulatory Affairs and QA

Mr. Cowart brings over 35 years of experience bringing novel medical technologies to market through the regulatory process of FDA, BSI, TUV, TGA, EU, as well as CFDA and Japan ministry of health. Mr. Cowart has led 15 successful PMA processes, and dozens of PMA supplements, 510 Ks and related approvals. Most recently, Mr. Cowart was the Senior Director of Regulatory of Cardio Mems, a class III invasive surgical implant, achieving a PMA approval in record time. Mr. Cowart will be responsible for ensuring QA compliance is followed and the regulatory approvals and supplements for the KBCT systems are achieved in the most expedient and efficient manner. Mr. Cowart is a graduate of the University of Georgia with MPA and MBAs from Georgia Southern and a JD from Woodrow Wilson College of Law.

Shawn Liu

Director of R&D

Mr. Liu earned his MS degree in Software Engineering from Tsinghua University and MS degree in Electrical & Computer Engineering from University of Rochester. He has nearly 20 years’ experience of software and hardware design, development and management, including distributed information systems, compute-intensive applications and real-time control systems. He also has nearly 15 years of extensive experience in medical system development, image analysis and processing, accurate 3D reconstruction and rendering, and computer-aided detection/diagnosis based on big data and deep learning. He has participated in a number of government grants related to cone beam CT research worldwide, and holds several patents. He joined the Cone Beam CT research lab at University of Rochester Medical Center in 2005 and has been involved in cone beam CT system integration and image research. 
He joined Koning in 2008 and has been spearheading the work for the system design and control, image acquisition and processing, system integration and other R&D works of Koning Breast CT and its successors. He also participated in the leadership of the quality management, clinical trials and regulatory approvals in various regions over the world. He has a wealth of knowledge and experience for product development and team leadership

Dr. Roger Zhang

Director of Clinical Affairs

Dr. Roger (Xiaohua) Zhang graduated from University of Rochester with a PhD of Electric and Computer Engineering. Dr. Zhang has more than 15 years of experience in Koning Breast CT technology and breast imaging modalities. 
As the Imaging Scientist and Director of Clinical Affairs of Koning Corporation, Dr. Zhang took part in the design and evaluation of Koning’s products and hardware/software features. Throughout his time at Koning, Dr. Zhang has led many projects on Koning Breast CT clinical evaluation and has worked closely with clinical experts in clinical studies to evaluate the safety and efficacy of Koning products in a clinical application environment.

Kathy Byrnes

Clinical Specialist

Clinical applications specialist for an elite group of 16 individuals in a start-up, first-of-its-kind medical imaging device company. Supervise and manage first US install of unit, integration of imaging software and training radiologists and techs in utilization and applications of Breast CT scanner. Currently registered and licensed as radiologic technologist. Extensive knowledge of medical procedures and protocols in hospitals as well as clinical settings.

Dr. Rajesh Garg


Dr. Garg is a strategic, inspirational, values-based health care leader with a proven P&L track record. He is deeply experienced across multiple segments of health care including biopharma, providers/payors, medical device, and ancillary service companies. He builds exceptional aligned senior teams with commitment to delivering tangible results. His global experience spans North America, Europe and Asia and substantive expertise covers the corporate value chain as well as a broad range of C-suite topics. 

Dr. Changhua Qiu


Experienced Professional with a demonstrated history of substantial value-add for clients in the financial services industry. Skilled in Investment Management, Equity Research, Start-ups, Corporate Finance, and Scientific Research. Strong education background with a MBA focused in Finance and a Ph.D in Applied Physics. 

Dr. Baozhong Wang


Mr. Baozhong Wang is currently the Chairman of Beijing Dingxin Lianrui Investment Co., Ltd. Mr. Wang Baozhong has served as the director of Zhonghengxin CPA Accounting Firm, the deputy general manager of China Beijing International Economic Cooperation Corporation, the chairman of Beijing Guoyuan Investment Consulting Co., Ltd., and the independent director of Zhongguancun Science and Technology Development Co., Ltd. (a listed company). With a deep professional background in accounting, finance, business administration, etc., he has held leadership positions in various types of enterprises, presided over and implemented a number of investments, mergers and acquisitions and restructuring projects. He has a deep understanding of enterprises, and has rich practical experience in investment management, enterprise restructuring, listing, and mergers and acquisitions. Mr. Wang holds a Master of Accountancy from Northeastern University in Finance and Economics, a Ph.D. in Finance from Renmin University, and an MBA from Roosevelt University (USA). In addition, Mr. Wang Baozhong is a certified public accountant and certified asset appraiser.

Lianghai Bing


Mr. Hai Bing Liang, Chinese citizen, is appointed as Executive Director at China Venture Capital Association, Vice Director at Shanxi Venture Capital Association, and Vice President at Shanxi Credit Association. He is a legally qualified lawyer, and has obtained Bachelor of Law from Northwest University of Politics and Law, Master of Economics from Xi’an Jiao Tong University, EMBA from Cheung Kong Graduate School of Business, and Doctor of Business Administration from Xi’an Jiao Tong University. 
He has 17 years of work experience in financial investment and organizational management. With his rich experiences in the field of scientific and technological innovation and venture capital investment, he has provided investment and management services for hundreds of institutions.

Lee Fan


Lee Fan is a cross functional tech executive with over sixteen years of finance and venture capital experience on Wall Street and in Silicon Valley. She brings a unique blend of financial expertise, strategic advisory, and operational skills to tech, crypto, and investing. Lee holds a B.S. degree in Economics from Duke University (2006) with minors in Biology and Japanese, and an MBA from Wharton at the University of Pennsylvania (2011). From 2006 to 2017, Lee had a decade long career in investment banking at Morgan Stanley, Evercore Partners, and Bank of America Merrill Lynch, advising her clients on strategic capital market and M&A opportunities. She has worked on dozens of IPOs, Follow-On Offerings, and M&As across healthcare, consumer retail, and internet industries. After her successful career in investment banking, Lee served as Senior Vice President at ZZ Ventures, where she led the investing effort in disruptive technology companies with a primary focus on consumer internet and fintech startups. Lee was the first Chief Financial Officer at GrubMarket from 2018 to 2020. She also works with the SPAC sponsor Trepont Acquisition Corp. Lee is currently the Chief Strategy Officer of BitMart, a top tier digital assets trading platform and exchange. Additionally, Lee serves on Board of Directors and Advisory Board for tech startups and VC funds.
Amount Raised : $582,667
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