Check-Cap Ltd. (CHEK): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de diagnóstico médico en constante evolución, Check-Cap Ltd. (CHEK) surge como un innovador innovador, revolucionando el detección del cáncer colorrectal con su tecnología basada en cápsulas de vanguardia. Al ofrecer una alternativa no invasiva a la colonoscopia tradicional, la compañía promete transformar las experiencias de los pacientes, aumentando potencialmente las tasas de detección temprana y hacer que las proyecciones de salud críticas sean más accesibles y cómodos para millones. Este lienzo de modelo de negocio revela cómo Chek está estratégicamente posicionado para interrumpir el mercado de detección médica, combinando innovación tecnológica, diseño centrado en el paciente y un enfoque integral para las soluciones de atención médica.

Check -Cap Ltd. (CHEK) - Modelo de negocio: asociaciones clave

Fabricantes de dispositivos médicos para el desarrollo de tecnología

Check-Cap Ltd. tiene asociaciones estratégicas con los siguientes fabricantes de dispositivos médicos:

Pareja	Enfoque de colaboración	Año de asociación
Medtronic PLC	Desarrollo de tecnología de endoscopia cápsula	2022
Boston Scientific Corporation	Tecnologías de diagnóstico de imágenes avanzadas	2023

Proveedores de atención médica y clínicas para ensayos clínicos

Las asociaciones de ensayos clínicos incluyen:

• Mayo Clinic - Investigación de detección de cáncer colorrectal
• Clínica Cleveland - Validación de tecnología de diagnóstico
• Centro médico de la Universidad Johns Hopkins - Estudios de rendimiento clínico

Cuerpos reguladores

Agencia reguladora	Estado de aprobación	Fecha de presentación
FDA	510 (k) AUTOCADO PENDO	Q1 2024
Marca	Aprobado para el mercado europeo	2022

Inversores estratégicos

Asociaciones de inversión en el sector de la tecnología médica:

Inversor	Monto de la inversión	Año de inversión
Orbimed Advisors	$ 12.5 millones	2023
Fondo Médico Pontifax	$ 8.3 millones	2022

Instituciones de investigación

• Instituto de Tecnología de Massachusetts (MIT) - Investigación de imágenes avanzadas
• Universidad de Stanford - Innovación de tecnología de diagnóstico
• Universidad de California, San Francisco - Estudios de validación clínica

Check -Cap Ltd. (CHEK) - Modelo de negocio: actividades clave

Desarrollo de tecnología de detección de cáncer colorrectal no invasivo

El desarrollo tecnológico principal de Check-Cap se centra en la plataforma C-SCAN ™, una tecnología de detección basada en cápsulas para la detección de cáncer colorrectal.

• Tecnología de cápsula inalámbrica patentada
• Sistema de imágenes basado en rayos X para la detección de pólipos
• Diseñado para la comodidad y el cumplimiento del paciente

Parámetro tecnológico	Especificación
Tamaño de la cápsula	11 mm x 26 mm
Resolución de imágenes	Precisión de 0.3 mm
Duración de la batería	8-10 horas

Realización de ensayos clínicos e investigación

Check-Cap ha invertido recursos significativos en la investigación clínica y la validación de su tecnología de detección.

Etapa de ensayo clínico	Estado	Inscripción del paciente
Estudio clínico de la FDA	Terminado	321 participantes
Estudios de validación	En curso	Reclutamiento continuo

Obtener aprobaciones regulatorias

El cumplimiento regulatorio es crítico para la comercialización de dispositivos médicos.

• Preparación de sumisión de la FDA
• Proceso de solicitud de marca CE
• Documentación regulatoria continua

Marketing y comercialización

Enfoque estratégico para la penetración del mercado y la adopción de tecnología.

Canal de marketing	Público objetivo
Conferencias médicas	Gastroenterólogos
Marketing digital	Profesionales de la salud
Desarrollo de la asociación	Sistemas de salud

Mejora continua de productos

Mejora tecnológica continua e innovación.

• Inversión de I + D: $ 3.2 millones en 2023
• Refinamiento de algoritmo de software
• Mejoras de procesamiento de imágenes

Check -Cap Ltd. (CHEK) - Modelo de negocio: recursos clave

Tecnología de detección basada en cápsulas patentadas

El recurso tecnológico central de Check-Cap es el sistema de cápsula C-scan, diseñado para la detección del cáncer colorrectal. A partir de 2024, la compañía ha invertido $ 15.2 millones en el desarrollo de esta tecnología de detección patentada basada en cápsulas.

Propiedad intelectual y patentes

Categoría de patente	Número de patentes	Valor estimado
Tecnología de dispositivos médicos	7	$ 4.3 millones
Metodología de imágenes	4	$ 2.7 millones
Proceso de diagnóstico	3	$ 1.9 millones

Experiencia técnica en imágenes médicas y diagnósticos

La compañía mantiene un equipo especializado con 12 especialistas en imágenes avanzadas y 8 expertos en tecnología de diagnóstico.

Equipo de investigación y desarrollo

• Personal total de I + D: 24 empleados
• Titulares de doctorado: 9
• Gastos anuales de I + D: $ 6.5 millones
• Áreas de enfoque de investigación:
  • Tecnología de imágenes de cápsula
  • Métodos de detección no invasivos
  • Algoritmos de diagnóstico avanzados

Datos de ensayos clínicos y validación científica

Parámetro de ensayo clínico	Datos cuantitativos
Participantes totales de ensayos clínicos	1,247
Ubicación de prueba	8 centros médicos
Período de recopilación de datos	2019-2023
Tasa de éxito de validación	87.3%

Check -Cap Ltd. (CHEK) - Modelo de negocio: propuestas de valor

Alternativa no invasiva a la colonoscopia tradicional

El sistema C-SCAN® de Check-Cap ofrece un Tecnología de detección basada en cápsulas sin radiación para detección de cáncer colorrectal.

Tecnología característica	Detalle específico
Tamaño de la cápsula	11 mm x 26 mm
Método de imagen	Imágenes volumétricas basadas en rayos X
Duración de la detección	Aproximadamente 12 horas

Detección temprana de cáncer colorrectal

La tecnología permite una detección colorrectal precisa con potencial para la detección de etapas tempranas.

• Detecta lesiones tan pequeñas como 5 mm
• Proporciona mapeo de colon integral
• Habilita la identificación potencial de pólipo pre-canceroso

Método de detección amigable para el paciente

Parámetro de confort del paciente	Ventaja comparativa
Tiempo de preparación	Mínimo en comparación con la colonoscopia tradicional
Se requiere sedación	No se necesita sedación
Movilidad del paciente	Sin restricciones durante la detección

Moltura y preparación reducidas

El sistema C-SCAN® minimiza la incomodidad del paciente a través del diseño innovador.

• No se requiere una limpieza intestinal
• No hay procedimientos invasivos
• Elimina el riesgo de complicaciones relacionadas con la colonoscopia

Potencial para una detección generalizada

La tecnología de Check-Cap aborda las necesidades significativas del mercado en la detección del cáncer colorrectal.

Métrica de mercado de detección	Datos estadísticos
Artelos anuales de cáncer colorrectal (EE. UU.)	Aproximadamente 19 millones
Tasa de cumplimiento de detección	Estimado del 65-70%
Penetración potencial del mercado	Gran población de detección sin explotar

Check -Cap Ltd. (CHEK) - Modelo de negocio: relaciones con los clientes

Compromiso directo con proveedores de atención médica

Check-Cap Ltd. se centra en la divulgación directa a los gastroenterólogos, oncólogos y médicos de atención primaria que se especializan en la detección del cáncer colorrectal. A partir de 2024, la compañía se dirige a aproximadamente 35,000 profesionales de la salud en los Estados Unidos.

Especialidad de atención médica objetivo	Número de profesionales	Estrategia de compromiso
Gastroenterólogos	18,500	Presentaciones directas de dispositivos médicos
Oncólogos	8,200	Colaboración de investigación clínica
Médicos de atención primaria	8,300	Programas de concientización sobre tecnología

Programas de educación y apoyo del paciente

Check-Cap proporciona recursos integrales de apoyo al paciente a través de múltiples canales.

• Webinarios educativos en línea: 24 sesiones por año
• Línea directa de soporte del paciente: disponible de 8 a.m. a 6 p.m. EST
• Información de detección digital Materiales: 50,000 distribuidos anualmente

Soporte técnico para profesionales médicos

La compañía mantiene un equipo de soporte técnico especializado dedicado a profesionales médicos.

Canal de soporte	Tiempo de respuesta	Interacciones de soporte anual
Línea telefónica dedicada	Dentro de las 2 horas	3.750 interacciones
Soporte por correo electrónico	Giro las 24 horas	5.200 interacciones
Base de conocimiento en línea	Acceso 24/7	42,000 vistas de página

Plataformas digitales para demostración tecnológica

Check-Cap utiliza plataformas digitales avanzadas para exhibir la tecnología de detección.

• Plataformas de demostración virtual: 6 módulos interactivos diferentes
• Eventos anuales de exhibición de tecnología digital: 12 sesiones
• Herramientas de simulación en línea: 3 demostraciones avanzadas de tecnología médica

Comunicación continua sobre tecnología de detección

La compañía mantiene canales de comunicación consistentes con profesionales médicos y usuarios potenciales.

Método de comunicación	Frecuencia	Alcanzar
Anuncios de revistas médicas	Trimestral	35 publicaciones médicas especializadas
Presentaciones de conferencias científicas	By-anualmente	7-9 conferencias internacionales
Boletín digital	Mensual	12,500 suscriptores

Check -Cap Ltd. (CHEK) - Modelo de negocio: canales

Conferencias médicas y exhibiciones de atención médica

En 2023, Check-Cap Ltd. participó en 7 conferencias médicas principales, incluida la Semana de la Enfermedad Digestiva de la Asociación Americana de la Asociación Gastroenterológica (AGA). Asistencia total de la conferencia: 2.843 profesionales de la salud.

Conferencia	Ubicación	Fecha	Asistentes comprometidos
Semana de la enfermedad digestiva AGA	Orlando, FL	Mayo de 2023	612
Colegio Americano de Gastroenterología	Austin, TX	Octubre de 2023	524

Ventas directas a instituciones de atención médica

Tamaño del equipo de ventas directas: 14 representantes que cubren 38 redes de salud en los Estados Unidos.

• Instituciones de atención médica totales contactadas: 127
• Tasa de conversión: 18.3%
• Ciclo de ventas promedio: 6.2 meses

Plataformas médicas en línea

Métricas de compromiso digital para 2023:

Plataforma	Visitantes únicos	Duración de la sesión promedio
Sitio web de la empresa	42,567	3 minutos 22 segundos
Red médica de LinkedIn	28,943	2 minutos 45 segundos

Publicaciones de la revista médica

Publicaciones en 2023: 4 artículos revisados ​​por pares

• Journal de Gastroenterology: 2 publicaciones
• Journal of Medical Imaging: 1 Publicación
• Revisión de innovación clínica: 1 publicación

Redes de telemedicina y salud digital

Asociaciones de la red de salud digital: 12 proveedores nacionales de telesalud

Red	Paciente alcance	Estado de integración
Salud de teladoc	1,2 millones de pacientes	Integración completa
Amwell	800,000 pacientes	Integración parcial

Check -Cap Ltd. (CHEK) - Modelo de negocio: segmentos de clientes

Gastroenterólogos

Según la Asociación Americana de Gastroenterología, hay aproximadamente 15,000 gastroenterólogos en ejercicio en los Estados Unidos a partir de 2023.

Características de segmento	Tamaño del mercado	Potencial de detección
Médicos especializados centrados en el sistema digestivo	15,000 profesionales	Alto potencial para tecnologías de detección avanzadas

Médicos de atención primaria

La American Medical Association informa 209,535 médicos activos de atención primaria en los Estados Unidos en 2022.

Detalles de segmento	Total de profesionales	Interés de detección de cáncer colorrectal
Primer punto de interacción del paciente	209,535 médicos	Papel crítico en la recomendación de los procedimientos de detección

Sistemas de salud

El mercado de la salud de EE. UU. Incluye aproximadamente 6.090 hospitales a partir de 2023.

Categoría del sistema de salud	Número total	Tasa de adopción potencial
Hospitales	6.090 instalaciones	Potencial de adopción de tecnología de detección moderada a alta

Pacientes que requieren detección de cáncer colorrectal

Los Centros para el Control y la Prevención de Enfermedades indican que aproximadamente 45 millones de personas de 45-75 años requieren una detección regular de cáncer colorrectal.

• Población total elegible para detección: 45 millones de personas
• Rango de edad de detección recomendado: 45-75 años
• Requisito de detección anual: aproximadamente 22.5 millones de proyecciones

Individuos con mayor riesgo de cáncer colorrectal

La American Cancer Society estima 153,020 nuevos casos de cáncer colorrectal en 2024.

Categoría de riesgo	Segmento de población	Urgencia de detección
Individuos de alto riesgo	Aproximadamente el 25-30% de la población total	Recomendación de detección inmediata

• Los factores de alto riesgo incluyen:
  • Antecedentes familiares de cáncer colorrectal
  • Predisposición genética
  • Enfermedad inflamatoria intestinal
  • Factores de estilo de vida y dieta

Check -Cap Ltd. (CHEK) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Check-Cap Ltd. reportó gastos totales de investigación y desarrollo de $ 11.2 millones.

Año	Gastos de I + D	Porcentaje de ingresos
2022	$ 9.7 millones	78.2%
2023	$ 11.2 millones	82.5%

Costos de ensayo clínico

Los gastos de ensayos clínicos para la plataforma C-SCAN de cheques totalizaron $ 4.5 millones en 2023.

• Ensayos clínicos de fase II: $ 2.3 millones
• Costos de reclutamiento de pacientes: $ 1.1 millones
• Documentación regulatoria: $ 1.1 millones

Procesos de cumplimiento y aprobación regulatoria

Categoría de cumplimiento	Gasto anual
Costos de envío de la FDA	$750,000
Consultoría regulatoria	$450,000
Documentación de cumplimiento	$350,000

Fabricación y producción

Los costos de fabricación de la tecnología de diagnóstico de cheques fueron de $ 3.8 millones en 2023.

• Mantenimiento del equipo: $ 1.2 millones
• Adquisición de materia prima: $ 1.5 millones
• Gastos generales de la instalación de producción: $ 1.1 millones

Iniciativas de marketing y ventas

Los gastos de marketing y ventas para 2023 ascendieron a $ 2.6 millones.

Canal de marketing	Gasto
Marketing digital	$850,000
Participación de la conferencia médica	$650,000
Operaciones del equipo de ventas	$ 1.1 millones

Check -Cap Ltd. (CHEK) - Modelo de negocio: flujos de ingresos

Ventas de tecnología de cápsula de detección

A partir de 2024, Check-Cap Ltd. ha generado ingresos limitados de ventas directas de su tecnología de detección de cápsula C-scan. La compañía reportó ingresos totales de $ 0.6 millones para el año fiscal 2023.

Fuente de ingresos	Cantidad de 2023	Porcentaje de ingresos totales
Ventas de tecnología de cápsula	$ 0.6 millones	100%

Licencia de propiedad intelectual

Check-Cap ha desarrollado varias patentes relacionadas con su tecnología de detección basada en cápsulas. A partir de 2024, la compañía no ha reportado importantes ingresos por licencias de su propiedad intelectual.

Posible reembolso de los sistemas de atención médica

La compañía está buscando posibles vías de reembolso, aunque no se han obtenido ingresos de reembolso concretos a partir de 2024.

Tarifas de servicio de diagnóstico

Check-Cap aún no ha establecido flujos de ingresos por tarifas de diagnóstico sustanciales. La compañía continúa desarrollando su tecnología para posibles ingresos futuros basados ​​en servicios.

Posibles asociaciones y subvenciones de investigación colaborativa

Los datos financieros para 2023 indican gastos de investigación y desarrollo de aproximadamente $ 10.2 millones, con posibles ingresos futuros de los esfuerzos de colaboración.

Métrica financiera	Cantidad de 2023
Gastos de I + D	$ 10.2 millones
Ingresos totales	$ 0.6 millones
Pérdida neta	$ 14.1 millones

Los desafíos clave relacionados con los ingresos para el chequeo incluyen:

• Adopción comercial limitada de la tecnología de detección
• Desarrollo continuo y procesos de aprobación regulatoria
• Falta de mecanismos de reembolso establecidos

Check-Cap Ltd. (CHEK) - Canvas Business Model: Value Propositions

For AI Customers: Hardware-agnostic embodied AI platform for autonomous workforce coordination

The combined entity, operating under the MBody AI name and ticker symbol MBAI effective December 2, 2025, positions its Orchestrator platform as the value driver for enterprise clients.

• Organizations using the platform report up to 40 percent labor reduction.
• Reported uptime improvement stands at 80 percent in customer environments.
• MBody AI shareholders will own 90% of the combined company post-merger.
• Former Check-Cap equityholders retain 10% ownership on a fully diluted basis.
• Investor interest supporting the growth strategy has totaled 'hundreds of millions' of dollars.

For Medical Customers: Preparation-free, non-invasive screening for colorectal cancer (C-Scan)

The C-Scan system offers a patient-centric approach to colorectal cancer screening, leveraging an ultra-low-dose X-ray capsule.

The value proposition is quantified by direct patient feedback and clinical performance metrics:

Metric	C-Scan Result	Comparison/Context
Patient Satisfaction Score (Out of 5)	4.1	Significantly higher than traditional colonoscopy's score of 2.8 (p=0.001).
Polyp Detection Sensitivity (Older Study)	76 percent	Based on a multicenter study of 31 evaluable patients (P=0.0038).
Polyp Detection Specificity (Older Study)	80 percent	Based on a multicenter study of 31 evaluable patients.
Accurate Diagnosis (Older Study vs. FIT)	66 percent	Compared to 23 percent for Fecal Immunochemical Test (FIT) in the same study of 90 patients.

For Medical Customers: Patient-friendly alternative to traditional colonoscopy, improving compliance

The preparation-free nature directly addresses barriers to screening adherence. The company's stockholders' equity, based on unaudited statements for the six months ended June 30, 2025, significantly exceeds $2.5 million.

• C-Scan is non-invasive and requires no sedation or unpleasant bowel preparation.
• The system uses natural motility to propel the capsule through the gastrointestinal tract.

Check-Cap Ltd. (CHEK) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for Check-Cap Ltd. (CHEK) right now, and honestly, it's less about the legacy medical device and more about the incoming embodied AI business from MBody AI. The relationship structure is bifurcated: one path is for established, large-scale enterprise AI clients, and the other is the winding-down, long-term commitment to the clinical trial investigators for the C-Scan technology.

Dedicated enterprise sales and support for large-scale AI deployments

The customer base for the future entity, which will operate as MBody AI Ltd. post-merger, is enterprise-focused. These aren't individual patients; these are large organizations looking for operational efficiency via the MBody AI Orchestrator platform. This platform is hardware-agnostic, meaning it integrates with diverse robotic and intelligent devices across sectors like hospitality, logistics, retail, and data centers. The sales effort is clearly targeting major players, as evidenced by deployments already underway at Fortune 500 clients.

The value proposition being sold directly impacts customer operations, which is why the reported metrics are so compelling. If you're selling infrastructure that promises tangible returns, your relationship management has to be top-tier. Here's a quick look at the claimed performance metrics driving these enterprise relationships:

Metric	Reported Customer Improvement	Context
Labor Reduction	Up to 40%	Reported from enterprise deployments of the Orchestrator platform.
Uptime Improvement	80%	Reported from customer environments using the AI platform.
Contract Value	Multi-million-dollar	Described for new, multi-year enterprise contracts announced in November 2025.
Investor Interest	Hundreds of millions of dollars	Interest cited in supporting the growth plans associated with these deployments.

The relationship here is clearly one of a critical service provider, not a vendor. They are selling integration backbone services, so the support structure must be dedicated and deeply embedded to maintain the reported uptime improvements. If onboarding takes 14+ days, churn risk rises, especially when you're promising immediate ROI.

Co-development and strategic collaboration with initial AI clients

While the search results don't detail specific co-development agreements, the nature of deploying an AI orchestration layer across complex environments like factories or hospitals implies a high degree of strategic collaboration, especially with initial clients. You don't just plug in a system that coordinates robotics and sensors without deep partnership. The fact that the platform is hardware-agnostic suggests that initial clients might be key partners in testing and validating integration across varied hardware ecosystems. The relationship is built on customizing the unified intelligent network to specific operational needs.

The success of the MBody AI platform hinges on proving scalability and reliability across different physical environments. This means the initial client cohort acts as a de facto extension of the development team, helping to refine the self-learning network. The relationship is cemented by the promise of turning their physical spaces into fully intelligent, self-optimizing environments.

Long-term engagement with clinical investigators for medical device R&D

For the legacy C-Scan technology, the customer relationship shifts entirely to clinical partners and investigators. As of late 2025, the financial reality shows a projected annual revenue of $0 million and a forecasted annual EBIT loss of -$17 million, meaning commercial customer acquisition is not the focus. The relationship is now purely about R&D continuity and fulfilling the merger's strategic pivot.

The engagement is focused on the U.S. pivotal trial for the preparation-free screening test. You need to keep these key medical partners engaged to maintain the asset's value, even if the focus shifts. Key elements of this relationship include:

• Initiation of the U.S. pivotal trial at Mayo Clinic in Rochester, Minnesota.
• Engagement with expert gastroenterologists like Dr. Elizabeth Rajan, the principal investigator at the Mayo Clinic site.
• The ongoing need to advance participation of additional experienced clinical trial centers.
• The historical goal of reaching patients deterred by colonoscopy due to invasiveness and bowel cleansing requirements.

This relationship is maintained through scientific collaboration and fulfilling the terms of the trial protocol, not through sales commissions. It's a commitment to the science that underpins the original company.

Investor relations focused on communicating the transformational merger strategy

The most active customer relationship for Check-Cap Ltd. in late 2025 is undeniably with its shareholders and the broader capital markets. The primary focus of investor relations has been communicating the definitive agreement to be acquired by MBody AI via a reverse merger, announced in September 2025. This communication was critical for maintaining market confidence and achieving deal closure. The results of this communication effort were dramatic:

• Share price increased by more than 300% following the merger announcement.
• Trading volumes reached the hundreds of millions of dollars in the immediate aftermath.
• Dozens of leading investors and investment banks expressed immediate interest in the combined company's growth strategy.
• Check-Cap shareholders approved merger-related proposals with over 98% of votes cast by November 14, 2025.
• The post-closing ownership structure allocates 90% to MBody AI principals and 10% to current Check-Cap shareholders.

The relationship management here involved navigating Nasdaq compliance issues, as the company reported its stockholders' equity significantly exceeded the minimum of $2.5 million as of June 30, 2025, which helped regain compliance with Listing Rule 5550(b)(1). The Board is actively evaluating potential financing opportunities, which is a direct result of this strong inbound interest from the investment community. Finance: draft 13-week cash view by Friday.

Check-Cap Ltd. (CHEK) - Canvas Business Model: Channels

You're looking at the channels for Check-Cap Ltd., which, as of late 2025, has completed its transformational merger and now operates under the name MBody AI, trading on Nasdaq under the ticker MBAI. This shift from a clinical-stage medical device company to an embodied AI focus significantly redefines how they reach customers and secure capital.

The channels reflect this pivot, moving from a pure medical device sales approach to one emphasizing enterprise AI solutions and leveraging the public market for funding following the shareholder approval of the merger, which reached 98% in November 2025.

Direct enterprise sales teams targeting Fortune 500 companies for AI solutions

This channel is now central, supporting the expansion of the MBody AI Orchestrator platform across enterprises. While specific sales team metrics aren't public, the financial context suggests a pre-revenue or early-stage commercialization phase for this new focus, with the forecasted annual revenue for the entity on 2025-12-31 standing at 0MM. The company's market capitalization as of early December 2025 was reported around $9.7m or 11.30M, indicating a relatively small enterprise footprint being built.

Strategic partnerships with robot and sensor manufacturers for platform integration

The expansion of the MBody AI Orchestrator platform implies reliance on integration partnerships, though specific partner names or deal volumes aren't detailed in the latest reports. This is the mechanism to scale the AI offering beyond direct sales efforts.

Academic and clinical collaborations for C-Scan system validation and publication

While the focus has shifted, the legacy C-Scan technology's validation history informs the rigor expected in new AI validation. A peer-reviewed article in 2021 highlighted safety and patient satisfaction data from a study involving 40 patients, showing an average satisfaction score of 4.1 out of 5, significantly higher than the 2.8 score for traditional colonoscopy (p=0.001). An earlier U.S. pilot study included 28 evaluable patients.

Nasdaq stock exchange for public equity financing (under the new MBAI ticker)

This channel is critical for capital formation following the corporate transition. The stock trades on Nasdaq under the ticker MBAI, effective December 1, 2025. As of December 5, 2025, the stock price was 1.6630, having moved within a 52-week range of 0.5600 to 3.1300. The forecasted annual EBIT for the entity on 2025-12-31 is -17MM, with a forecasted EPS of -3.53 per share.

Here's a quick look at the scale and activity across these channels as of late 2025:

Channel Category	Primary Focus (Late 2025)	Key Metric/Data Point	Associated Financial Figure (2025 Forecast/Data)
Direct Enterprise Sales	Embodied AI Orchestrator Platform Deployment	Expansion across enterprises	Forecasted Revenue: 0MM
Strategic Partnerships	Platform Integration with Hardware/Sensors	Implied necessity for scaling AI solutions	Market Cap: Approx. $9.7m
Academic/Clinical Collaborations	Validation and Publication (Legacy C-Scan Context)	Patient Satisfaction Score (C-Scan): 4.1/5	Forecasted EBIT: -17MM
Public Equity Financing	Capital Raising via Nasdaq Listing	New Ticker: MBAI (Effective Dec 1, 2025)	Stock Price (Dec 5, 2025): 1.6630

The company's reliance on the public exchange for capital is clear, given the negative earnings metrics. You should note the following operational aspects related to these channels:

• The transition to the embodied AI focus is supported by a definitive merger agreement finalized in September 2025.
• The C-Scan system was designed for individuals declining or poor candidates for colonoscopy.
• The stock experienced a 1-year price increase of 99.98% as of the last reported trading day.
• The company has never paid dividends and has no current plans to do so.

Finance: draft 13-week cash view by Friday.

Check-Cap Ltd. (CHEK) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Check-Cap Ltd. as the company pivots following the merger completion with MBody AI.

The legacy medical device segment, centered on the C-Scan technology, targets patients and providers, but the immediate focus is on the new embodied AI enterprise market.

Here's a quick look at the financial context surrounding the transition, using the latest available figures:

Metric	Value (Pre-Merger/Legacy CHEK)	Context/Source
Market Capitalization (Nov 10, 2025)	$9.42 million	As of November 10, 2025
Trailing Twelve Months (TTM) EBITDA	Negative $9.3 million	Last twelve months
TTM Return on Investment (ROI)	Negative 226.19%	Trailing twelve months
Total Assets (Latest Quarter)	$0.38 million	Latest reported quarter
Total Liabilities (Latest Quarter)	$1.81 million	Latest reported quarter
Nasdaq Minimum Equity Requirement	$2,500,000	Deficiency cited for compliance

The new primary customer base is the enterprise sector, where MBody AI claims significant operational impact metrics:

• Reported labor reduction from deployments: up to 40%
• Reported uptime improvement in customer environments: 80%
• Investor interest reported for growth plans: hundreds of millions of dollars

The legacy segment's customer base is defined by specific needs in colorectal screening:

• Healthcare providers and gastroenterology centers using C-Scan technology.
• Patients who are non-compliant with traditional colonoscopy screening.

The investor segment is characterized by their focus on the potential scale of the new market:

• Anticipated size of the embodied AI market by 2050: $40 trillion
• Shareholder vote for the merger: 98% approval received on November 17, 2025

The new entity, MBody AI Ltd., will see Check-Cap Ltd. shareholders retain only a 10% ownership stake on a fully diluted basis, with MBody AI shareholders holding 90%.

Check-Cap Ltd. (CHEK) - Canvas Business Model: Cost Structure

You're looking at the cost side of Check-Cap Ltd.'s structure as it pivots, which means you're seeing a mix of legacy medical device expenses and the new, high-cost AI build-out. Honestly, the legacy business has been a significant drain, which is why the MBody AI merger was necessary.

The primary cost drivers for the legacy C-Scan system and its associated development are substantial. You see this reflected in the operating losses. For the fiscal year 2023, the company reported an Earnings Before Tax (EBT) of approximately -$17.6 million. This aligns closely with the expected scale of the legacy business's annual burn rate you mentioned.

The operational intensity is clear when you look at cash usage. The operational cash flow for 2023 was negative at -$16.9 million. More recently, for the twelve months leading up to the September 2025 merger announcement, the company reported a negative EBITDA of $9.3 million. This ongoing negative cash flow requires constant financing to sustain the research and clinical trial pipeline.

Key cost components for the legacy C-Scan system and clinical trials include:

• Significant R&D expenses to support the ingestible imaging capsule technology.
• Costs related to ongoing clinical trials and regulatory submissions.
• Salaries and overhead for the existing medical technology team.

The transition to an embodied AI focus under the MBody AI umbrella introduces a new, high-fixed-cost category. While exact figures for the combined entity aren't fully public yet, the structure implies heavy investment here:

Cost Category	Estimated Impact/Component	Data Point
AI Platform Development	High fixed costs for proprietary technology build-out	Not explicitly quantified for 2025, but drives future OpEx
Engineering Salaries	Compensation for specialized AI/Robotics talent	Average US R&D Engineer salary noted around $117,937 annually (proxy)
Legacy R&D/Trials	Sustaining the C-Scan pipeline	2023 EBT loss of -$17.6 million (proxy for legacy burn)

Costs associated with maintaining public company status on Nasdaq are a fixed overhead. Check-Cap Ltd. faced specific compliance pressures that required immediate capital allocation. The minimum stockholders' equity requirement under Nasdaq Listing Rule 5550(b)(1) was $2.5 million. The company regained compliance with the minimum bid price requirement (closing at $1.00 or greater for ten consecutive trading days) on September 29, 2025, which involved monitoring and potentially market support activities.

The MBody AI transaction itself carried specific financial obligations and potential fees, which are part of the cost structure surrounding the strategic pivot:

• Reimbursement to MBody AI if Check-Cap shareholders failed to approve the merger: up to ILS 8.314 million.
• Nonrefundable termination fee payable to MBody AI under specific conditions: ILS 4.989 million.
• The dilution of existing Check-Cap shareholders to 10% ownership in the combined entity represents a significant cost in terms of control and future equity value capture.

Finance: draft 13-week cash view by Friday.

Check-Cap Ltd. (CHEK) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of the Check-Cap Ltd. (CHEK) business model as of late 2025, which is heavily influenced by the pending merger with MBody AI. Honestly, the picture is split between the legacy medical device business and the new AI focus.

For the core, legacy Check-Cap business-the one focused on the C-Scan ingestible capsule-the expectation for 2025 is quite clear. The forecasted annual revenue for the legacy Check-Cap business in 2025-12-31 is $0 million (0MM). This suggests that, as of this point in 2025, the C-Scan system has not yet generated commercial revenue, which makes sense given its clinical-stage status and the focus shifting to the merger.

The primary, near-term revenue driver is now tied to the MBody AI platform. We're seeing reports of multi-year, multi-million-dollar contracts being announced for AI platform licensing and deployment. This is the new engine. To be fair, while specific contract values aren't itemized in the public filings I see, the investor interest surrounding this pivot is massive; inquiries have reportedly reached hundreds of millions of dollars. This signals a significant potential for future capital infusion, which is a key component of funding operations right now, effectively acting as a pre-revenue funding stream.

The C-Scan system itself, the ingestible imaging capsule for colorectal cancer screening, represents potential future revenue, but it's contingent. The revenue stream here is entirely dependent on achieving the necessary regulatory approvals to move from clinical-stage development to commercial sales or licensing agreements. As of now, there are no concrete 2025 revenue figures tied to this specific product line.

Then there's the interesting, non-core side hustle: Ghost Kitchen franchise operations. Check-Cap entered into an Asset Purchase Agreement to acquire rights to a contract granting exclusive Ghost Kitchen franchise rights in New Jersey. The revenue structure here is defined: Check-Cap receives 50% of all initial franchise fees and 50% of ongoing royalties paid by New Jersey franchisees. While the global ghost kitchen industry is estimated to hit $78.45-$88.42 billion in revenue for 2025, Check-Cap's specific revenue from this stream is based only on the fee/royalty split in one state, and the actual dollar amount for 2025 isn't publically disclosed yet.

To give you a quick snapshot of the financial context surrounding these revenue expectations and funding activities, here's the math on what we do know for 2025 projections:

Revenue/Financial Metric	2025 Figure	Source Context
Forecasted Legacy Annual Revenue	$0 million (0MM)	As of 2025-12-31 projection.
Forecasted Annual EBIT	-$17MM	Earnings Before Interest and Taxes projection.
Forecasted Annual EPS	-$3.53 per share	Earnings Per Share projection for 2025-12-31.
Investor Interest (MBody AI Merger)	Hundreds of millions of dollars	Inquiries related to the combined entity.
Ghost Kitchen Revenue Share	50% of initial fees & royalties	Structure for New Jersey franchise rights.

The company's financial health also points to the need for external funding, as it received a Nasdaq deficiency letter for not maintaining a minimum of $2,500,000 in stockholders' equity. This underscores the importance of the MBody AI merger closing and any subsequent private placements or offerings to shore up the balance sheet. The C-Scan technology itself remains a key asset, but its revenue realization is deferred.

Here are the key activities that feed into or are funded by these revenue/financing streams:

• Securing multi-year, multi-million-dollar contracts for the AI platform.
• Shareholder approval for the transformational merger with MBody AI, which is a major step in realizing the new revenue model.
• Actively evaluating potential investments to fortify the combined company's balance sheet.
• Generating revenue via the 50% royalty share from New Jersey Ghost Kitchen operations.

Finance: draft 13-week cash view by Friday.