Amid the impending approval of digital therapeutics (DTx) devices in Korea, a report that examined the rapidly growing global DTx market has been presented, drawing the attention of domestic businesses.The Korea Health Industry Development Institute (KHIDI) released the report on Monday, which analy
The Ministry of Food and Drug Safety (MFDS) said on Monday that it will promote international cooperation for the Korean medical device sector at the Global Harmonization Working Party (GHWP) in Riyadh, Saudi Arabia from Monday to Thursday this week.The GHWP is a cooperative organization established
Dx&Vx, a Korean molecular diagnostics company, said it achieved record-high sales and successfully turned to an operating profit in 2022.According to the company's public filing on Friday, the company recorded sales of 32.2 billion won ($26.2 million) last year, up 331 percent compared to 2021.The c
Lunit said it agreed with Agfa HealthCare, a multinational imaging company headquartered in Belgium, to supply an AI image analysis solution for breast cancer diagnosis to the Dubai Academic Health Corporation (DAHC) in the United Arab Emirates (UAE).The two companies have been collaborating to deve
Macrogen, a company specializing in genome analysis, said on Monday it acquired a domestic patent for a health information analysis device using microbiomes.This patent is for a device that can diagnose a specific disease or predict risk or prognosis using microbiomes in the body and its genome.The
Leaders of global and regional health organizations said that digital health needs to be prioritized to develop new interventions to improve public health equity at the Global Engagement and Empowerment Forum (GEEF) 2023 held in Yonsei University, Seoul, on Thursday.The session first outlined the st
CG Bio said it acquired M.Base, a company specializing in manufacturing and developing lifting threads, to strengthen its esthetic business portfolio.According to CG Bio, the company recently signed a contract to acquire a 90 percent stake in M.Base.CG Bio, an affiliate of Daewoong Pharmaceutical, h
A team of researchers in Korea has published a study proving the clinical feasibility of using a miniaturized confocal laser endomicroscopy to identify cancerous tissues accurately during brain surgery.Failing to remove brain tumors completely could cause recurrence. However, removing healthy brain
Celltrion and Humasis have filed a lawsuit against each other for damages in connection with their previous partnership for the Covid-19 diagnostic kit business.The legal battle will center on which company is responsible for the breach of the diagnostic kit contract.The lawsuit follows Celltrion te
NGeneBio said on Thursday that it launched its next-generation sequence (NGS)-based breast cancer diagnostic service in a newly installed inspection laboratory of a Thai consignment inspection agency, MP Group.The MP Group is Thailand's leading consignment inspection agency and distributor specializ
SK C&C said it will join hands with Microsoft Korea to accelerate the entry of its Medical Insight+ Brain Hemorrhage, an AI brain hemorrhage imaging medical solution, into the global market.On Thursday, the two companies signed a memorandum of understanding (MOU) to advance into the global market fo
With the artificial intelligence (AI) medical imaging industry showing rapid growth, Korean AI medical imaging startups are also expanding their footing overseas.According to Contrive Datum Insights, a market research agency, the global AI medical imaging market, which was valued at $1.7 billion in
SD Biosensor, a Korean diagnostics firm, said Wednesday it has completed the acquisition of Meridian Bioscience, a U.S. diagnostic company.In July 2022, the company said it would purchase Meridian Bioscience for about $1.53 billion. The acquisition of Meridian Bioscience is the largest M&A deal in t
Ybrain, a company specializing in mental health therapeutics, said on Tuesday that it signed a joint promotion contract with Chong Kun Dang Holdings for MINDD STIM, a prescription depression electroceutical for at-home use.Under the agreement, Chong Kun Dang will exclusively supply and sell Ybrain's
Panagene said on Thursday that its OncoTector KRAS mutation test kit received approval from the Ministry of Food and Drug Safety as a grade 3 companion diagnostic (CDx) to support Lumakras (ingredient: sotorasib), a non-small cell lung cancer (NSCLC) treatment.Lumakras is a targeted treatment for pa
Naver, Korea’s largest portal site, has stressed the need to provide telemedicine services for older adults in mountainous areas and islands with little healthcare access.It noted that the ethical use of artificial intelligence is emerging as a global issue to narrow the medical divide.What matters
The Covid-19 pandemic speeds up the digital transformation of the domestic biopharmaceutical industry. As a result, the convergence of IT technology based on artificial intelligence, big data, cloud computing, and the biopharmaceutical sector is particularly brisk.“The spread and prolongation of Cov
Algocare, a Korean healthcare startup known for winning CES Innovation Award for three consecutive years, has raised allegations that Lotte Healthcare stole its AI-backed nutrient dispenser business idea and launched a copycat product.Lotte Healthcare is a healthcare unit of Lotte, Korea’s fifth-lar
Amid growing social acceptance of digital transformation in healthcare, digital therapeutics (DTx) have become the hottest topic in the global healthcare industry. DTx delivers therapeutic interventions via software to manage, treat and prevent diseases.Korea is slightly lagging behind several advan
The Korea Health Industry Development Institute (KHIDI) said it has signed a memorandum of understanding (MOU) with Roche Diagnostics Korea for global research cooperation support projects.The agreement is part of the Korea-Swiss global pharmaceutical company joint research support project, which is
