Check-Cap Ltd. (CHEK): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em constante evolução do diagnóstico médico, o Check-Cap Ltd. (CHEK) surge como um inovador inovador, revolucionando a triagem de câncer colorretal com sua tecnologia baseada em cápsula de ponta. Ao oferecer uma alternativa não invasiva à colonoscopia tradicional, a empresa promete transformar as experiências dos pacientes, aumentando potencialmente as taxas de detecção precoce e tornando as exibições críticas de saúde mais acessíveis e confortáveis ​​para milhões. Esse modelo de negócios Canvas revela como Chek está estrategicamente posicionado para interromper o mercado de triagem médica, combinando inovação tecnológica, design centrado no paciente e uma abordagem abrangente das soluções de saúde.

Check -Cap Ltd. (CHEK) - Modelo de negócios: Parcerias -chave

Fabricantes de dispositivos médicos para desenvolvimento de tecnologia

A Check-Cap Ltd. possui parcerias estratégicas com os seguintes fabricantes de dispositivos médicos:

Parceiro	Foco de colaboração	Ano de parceria
Medtronic plc	Desenvolvimento de tecnologia de endoscopia da cápsula	2022
Corporação científica de Boston	Tecnologias de diagnóstico de imagem avançada	2023

Provedores de saúde e clínicas para ensaios clínicos

Parcerias de ensaios clínicos incluem:

• Mayo Clinic - Research de triagem de câncer colorretal
• Cleveland Clinic - Validação de Tecnologia de Diagnóstico
• Centro Médico da Universidade Johns Hopkins - Estudos de Desempenho Clínico

Órgãos regulatórios

Agência regulatória	Status de aprovação	Data de envio
FDA	510 (k) folga pendente	Q1 2024
Mark CE	Aprovado para o mercado europeu	2022

Investidores estratégicos

Parcerias de investimento no setor de tecnologia médica:

Investidor	Valor do investimento	Ano de investimento
Consultores orbimed	US $ 12,5 milhões	2023
Pontifax Medical Fund	US $ 8,3 milhões	2022

Instituições de pesquisa

• Instituto de Tecnologia de Massachusetts (MIT) - Pesquisa de imagem avançada
• Universidade de Stanford - Inovação em Tecnologia de Diagnóstico
• Universidade da Califórnia, São Francisco - Estudos de Validação Clínica

Check -Cap Ltd. (CHEK) - Modelo de negócios: Atividades -chave

Desenvolvimento de tecnologia de triagem de câncer colorretal não invasivo

O desenvolvimento tecnológico principal do Check-Cap se concentra na plataforma C-Scan ™, uma tecnologia de triagem baseada em cápsula para detecção de câncer colorretal.

• Tecnologia de cápsula sem fio proprietária
• Sistema de imagem baseado em raios-X para detecção de pólipos
• Projetado para conforto e conformidade do paciente

Parâmetro de tecnologia	Especificação
Tamanho da cápsula	11 mm x 26 mm
Resolução de imagem	Precisão de 0,3 mm
Duração da bateria	8-10 horas

Conduzindo ensaios clínicos e pesquisas

O Check-Cap investiu recursos significativos em pesquisa clínica e validação de sua tecnologia de triagem.

Estágio do ensaio clínico	Status	Inscrição do paciente
Estudo clínico da FDA	Concluído	321 participantes
Estudos de validação	Em andamento	Recrutamento contínuo

Obtendo aprovações regulatórias

A conformidade regulatória é fundamental para a comercialização de dispositivos médicos.

• Preparação de envio da FDA
• Processo de aplicação de marca CE
• Documentação regulatória contínua

Marketing e comercialização

Abordagem estratégica para penetração de mercado e adoção de tecnologia.

Canal de marketing	Público -alvo
Conferências médicas	Gastroenterologistas
Marketing digital	Profissionais de saúde
Desenvolvimento de Parceria	Sistemas de saúde

Melhoria contínua do produto

Melhoria e inovação tecnológicas em andamento.

• Investimento de P&D: US $ 3,2 milhões em 2023
• Algoritmo de software Refinamento
• Melhorias de processamento de imagem

Check -Cap Ltd. (CHEK) - Modelo de negócios: Recursos -chave

Tecnologia de triagem baseada em cápsula proprietária

O principal recurso tecnológico da Check-Cap é o sistema de cápsula C-Scan, projetado para a triagem de câncer colorretal. Em 2024, a empresa investiu US $ 15,2 milhões no desenvolvimento dessa tecnologia de triagem baseada em cápsula proprietária.

Propriedade intelectual e patentes

Categoria de patentes	Número de patentes	Valor estimado
Tecnologia de dispositivos médicos	7	US $ 4,3 milhões
Metodologia de imagem	4	US $ 2,7 milhões
Processo de diagnóstico	3	US $ 1,9 milhão

Experiência técnica em imagem médica e diagnóstico

A empresa mantém uma equipe especializada com 12 especialistas em imagens avançadas e 8 especialistas em tecnologia de diagnóstico.

Equipe de pesquisa e desenvolvimento

• Pessoal total de P&D: 24 funcionários
• Titulares de doutorado: 9
• Despesas anuais de P&D: US $ 6,5 milhões
• Áreas de foco de pesquisa:
  • Tecnologia de imagem de cápsula
  • Métodos de triagem não invasivos
  • Algoritmos avançados de diagnóstico

Dados de ensaios clínicos e validação científica

Parâmetro do ensaio clínico	Dados quantitativos
TOTAL DE ENTRADOS CLÍNICOS PARTICIPANTES	1,247
Locais de teste	8 centros médicos
Período de coleta de dados	2019-2023
Taxa de sucesso de validação	87.3%

Check -Cap Ltd. (CHEK) - Modelo de negócios: proposições de valor

Alternativa não invasiva à colonoscopia tradicional

O sistema C-Scan® da Check-Cap oferece um Tecnologia de triagem baseada em cápsula sem radiação Para detecção de câncer colorretal.

Característica da tecnologia	Detalhes específicos
Tamanho da cápsula	11mm x 26mm
Método de imagem	Imagem volumétrica baseada em raios-X
Duração da triagem	Aproximadamente 12 horas

Detecção precoce de câncer colorretal

A tecnologia permite a triagem colorretal precisa com potencial para detecção de estágio inicial.

• Detecta lesões tão pequenas quanto 5 mm
• Fornece mapeamento abrangente de cólon
• Permite a identificação potencial de pólipo pré-cancerosa

Método de triagem amigável ao paciente

Parâmetro de conforto do paciente	Vantagem comparativa
Tempo de preparação	Mínimo em comparação com a colonoscopia tradicional
Sedação necessária	Nenhuma sedação necessária
Mobilidade do paciente	Irrestrito durante a triagem

Desconforto e preparação reduzidos

O sistema C-Scan® minimiza o desconforto do paciente por meio de design inovador.

• Não é necessária limpeza intestinal
• Sem procedimentos invasivos
• Elimina o risco de complicações relacionadas à colonoscopia

Potencial para triagem generalizada

A tecnologia da Check-Cap atende às necessidades significativas de mercado na triagem de câncer colorretal.

Métrica do mercado de triagem	Dados estatísticos
Triações anuais de câncer colorretal (EUA)	Aproximadamente 19 milhões
Taxa de conformidade de triagem	Estimado 65-70%
Penetração potencial de mercado	Grande população de triagem inexplorada

Check -Cap Ltd. (Chek) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto com prestadores de serviços de saúde

A Check-Cap Ltd. concentra-se em divulgação direta para gastroenterologistas, oncologistas e médicos de cuidados primários, especializados em triagem de câncer colorretal. A partir de 2024, a empresa tem como alvo aproximadamente 35.000 profissionais de saúde nos Estados Unidos.

Especialidade de assistência médica -alvo	Número de profissionais	Estratégia de engajamento
Gastroenterologistas	18,500	Apresentações de dispositivos médicos diretos
Oncologistas	8,200	Colaboração de pesquisa clínica
Médicos de cuidados primários	8,300	Programas de conscientização sobre tecnologia

Programas de educação e apoio do paciente

O Check-Cap fornece recursos abrangentes de suporte ao paciente por meio de vários canais.

• Online Webinars educacionais: 24 sessões por ano
• Linha direta de suporte ao paciente: disponível das 8h às 18h EST
• Materiais de informação de triagem digital: 50.000 distribuídos anualmente

Suporte técnico para profissionais médicos

A empresa mantém uma equipe de suporte técnico especializado dedicado aos profissionais médicos.

Canal de suporte	Tempo de resposta	Interações de suporte anual
Linha telefônica dedicada	Dentro de 2 horas	3.750 interações
Suporte por e -mail	Reviravolta de 24 horas	5.200 interações
Base de conhecimento online	Acesso 24/7	42.000 visualizações de página

Plataformas digitais para demonstração de tecnologia

O Check-Cap utiliza plataformas digitais avançadas para mostrar a tecnologia de triagem.

• Plataformas de demonstração virtual: 6 módulos interativos diferentes
• Eventos anuais de vitrine de tecnologia digital: 12 sessões
• Ferramentas de simulação online: 3 demonstrações avançadas de tecnologia médica

Comunicação contínua sobre a tecnologia de triagem

A empresa mantém canais de comunicação consistentes com profissionais médicos e usuários em potencial.

Método de comunicação	Freqüência	Alcançar
Anúncios de revistas médicas	Trimestral	35 publicações médicas especializadas
Apresentações da conferência científica	Bi-semestralmente	7-9 Conferências Internacionais
Newsletter digital	Mensal	12.500 assinantes

Check -Cap Ltd. (Chek) - Modelo de Negócios: Canais

Conferências médicas e exposições de saúde

Em 2023, a Check-Cap Ltd. participou de 7 principais conferências médicas, incluindo a Semana da Doença Digestiva da American Gastroenterological Association (AGA). Participação total da conferência: 2.843 profissionais de saúde.

Conferência	Localização	Data	Os participantes envolvidos
Semana de Doença Digestiva Aga	Orlando, FL	Maio de 2023	612
American College of Gastroenterology	Austin, TX	Outubro de 2023	524

Vendas diretas para instituições de saúde

Tamanho da equipe de vendas direta: 14 representantes cobrindo 38 redes de saúde nos Estados Unidos.

• Total de instituições de saúde contatadas: 127
• Taxa de conversão: 18,3%
• Ciclo médio de vendas: 6,2 meses

Plataformas médicas online

Métricas de engajamento digital para 2023:

Plataforma	Visitantes únicos	Duração média da sessão
Site da empresa	42,567	3 minutos 22 segundos
Rede Médica do LinkedIn	28,943	2 minutos 45 segundos

Publicações de revistas médicas

Publicações em 2023: 4 artigos revisados ​​por pares

• Jornal de gastroenterologia: 2 publicações
• Journal of Medical Imaging: 1 Publicação
• Revisão de Inovação Clínica: 1 Publicação

Redes de telemedicina e saúde digital

Digital Health Network Partnerships: 12 provedores nacionais de telessaúde

Rede	Alcance do paciente	Status de integração
Teladoc Health	1,2 milhão de pacientes	Integração completa
Amwell	800.000 pacientes	Integração parcial

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

Gastroenterologistas

De acordo com a American Gastroenterological Association, existem aproximadamente 15.000 gastroenterologistas praticantes nos Estados Unidos a partir de 2023.

Características do segmento	Tamanho de mercado	Potencial de triagem
Médicos especializados focados no sistema digestivo	15.000 profissionais	Alto potencial para tecnologias de triagem avançada

Médicos de cuidados primários

A American Medical Association relata 209.535 médicos de cuidados primários ativos nos Estados Unidos em 2022.

Detalhes do segmento	Total de profissionais	Interesse de triagem de câncer colorretal
Primeiro ponto da interação do paciente	209.535 médicos	Papel crítico na recomendação de procedimentos de triagem

Sistemas de saúde

O mercado de saúde dos EUA inclui aproximadamente 6.090 hospitais a partir de 2023.

Categoria do sistema de saúde	Número total	Taxa de adoção potencial
Hospitais	6.090 instalações	Potencial de adoção de tecnologia de triagem moderada a alta

Pacientes que requerem triagem de câncer colorretal

Os Centros de Controle e Prevenção de Doenças indicam que aproximadamente 45 milhões de indivíduos com idades entre 45 e 75 anos exigem triagem regular de câncer colorretal.

• População elegível de triagem total: 45 milhões de indivíduos
• Faixa etária de triagem recomendada: 45-75 anos
• Requisito anual de triagem: aproximadamente 22,5 milhões de exibições

Indivíduos com maior risco de câncer colorretal

A American Cancer Society estima 153.020 novos casos de câncer colorretal em 2024.

Categoria de risco	Segmento populacional	Urgência de triagem
Indivíduos de alto risco	Aproximadamente 25-30% da população total	Recomendação de triagem imediata

• Fatores de alto risco incluem:
  • História familiar de câncer colorretal
  • Predisposição genética
  • Doença inflamatória intestinal
  • Estilo de vida e fatores alimentares

Check -Cap Ltd. (CHEK) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Check-Cap Ltd. relatou despesas totais de pesquisa e desenvolvimento de US $ 11,2 milhões.

Ano	Despesas de P&D	Porcentagem de receita
2022	US $ 9,7 milhões	78.2%
2023	US $ 11,2 milhões	82.5%

Custos de ensaios clínicos

As despesas de ensaios clínicos para a plataforma C-scan da Check-Cap totalizaram US $ 4,5 milhões em 2023.

• Fase II Ensaios Clínicos: US $ 2,3 milhões
• Custos de recrutamento de pacientes: US $ 1,1 milhão
• Documentação regulatória: US $ 1,1 milhão

Processos de conformidade e aprovação regulatórios

Categoria de conformidade	Despesas anuais
Custos de envio da FDA	$750,000
Consultoria regulatória	$450,000
Documentação de conformidade	$350,000

Fabricação e produção

Os custos de fabricação da tecnologia de diagnóstico da Check-Cap foram de US $ 3,8 milhões em 2023.

• Manutenção do equipamento: US $ 1,2 milhão
• Aquisição de matéria -prima: US $ 1,5 milhão
• Interior da instalação de produção: US $ 1,1 milhão

Iniciativas de marketing e vendas

As despesas de marketing e vendas em 2023 totalizaram US $ 2,6 milhões.

Canal de marketing	Gasto
Marketing digital	$850,000
Participação da conferência médica	$650,000
Operações da equipe de vendas	US $ 1,1 milhão

Check -Cap Ltd. (CHEK) - Modelo de negócios: fluxos de receita

Vendas da tecnologia de cápsula de triagem

A partir de 2024, a Check-Cap Ltd. gerou receita limitada de vendas direta a partir de sua tecnologia de triagem de cápsulas C-Scan. A empresa registrou receita total de US $ 0,6 milhão no ano fiscal de 2023.

Fonte de receita	2023 quantidade	Porcentagem da receita total
Vendas de tecnologia de cápsulas	US $ 0,6 milhão	100%

Propriedade intelectual de licenciamento

O Check-Cap desenvolveu várias patentes relacionadas à sua tecnologia de triagem baseada em cápsula. A partir de 2024, a empresa não relatou receita significativa de licenciamento de sua propriedade intelectual.

Reembolso potencial de sistemas de saúde

A empresa está seguindo possíveis vias de reembolso, embora nenhuma receita concreta de reembolso tenha sido realizada a partir de 2024.

Taxas de serviço de diagnóstico

O Check-Cap ainda não estabeleceu fluxos substanciais de receita de taxas de serviço de diagnóstico. A empresa continua a desenvolver sua tecnologia para potenciais receitas futuras baseadas em serviços.

Possíveis parcerias e subsídios de pesquisa colaborativa

Dados financeiros para 2023 indicam despesas de pesquisa e desenvolvimento de aproximadamente US $ 10,2 milhões, com potencial receita futura de esforços colaborativos.

Métrica financeira	2023 quantidade
Despesas de P&D	US $ 10,2 milhões
Receita total	US $ 0,6 milhão
Perda líquida	US $ 14,1 milhões

Os principais desafios relacionados à receita para o check-cap incluem:

• Adoção comercial limitada da tecnologia de triagem
• Processos contínuos de desenvolvimento e aprovação regulatória
• Falta de mecanismos estabelecidos de reembolso

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.