Korea Pharma said it has signed a domestic sales contract with Waycen, a medical AI company, for WAYMED Endo, a software that analyzes endoscopic images in real-time to provide various information to physicians, assisting in polyp removal and diagnostic decisions.

Through this contract, Korea Pharma and Waycen plan to supply Korean medical institutions with WAYMED Endo, along with Korea Pharma's endoscopic product lineup, and cooperate on various AI-based solutions in the future.

The agreement extends Korea Pharma's aim to enter the gastrointestinal endoscopy market.

The company had previously signed an exclusive domestic supply agreement with Norgine, a Dutch company, to market Plenvu, the latter's bowel cleansing agent, in Korea in 2018.

"Through cooperation with Waycen, we can now provide clinically improved AI solutions to the increasing number of domestic patients undergoing gastrointestinal endoscopy diagnosis each year," Korea Pharma CEO Paek Eun-hee said. "We will continue to develop and introduce innovative medical technologies in various fields to contribute to public health."