Dong-A Pharmaceutical has joined with electroceutical developer Nu Eyne to enter the electroceutical business.
Dong-A Pharm said it signed an exclusive domestic sales and supply agreement with Nu Eyne, a company specializing in the research and development of electroceuticals, for a migraine relief medical device, at its headquarters in Yongdu-dong, eastern Seoul, on Tuesday.
Last November, the two companies also signed a business agreement to collaborate on clinical research and business development of technologies to treat chronic diseases, such as migraine, dry eye, and sleep improvement.
The migraine relief medical device developed by Nu Eyne is a wearable device attached to the forehead. It applies microcurrent stimulation to the trigeminal nerve around the forehead and causes neuromodulation to relieve migraines and reduce their frequency. It has two distinct features --acute mode to relieve pain and preventive mode to reduce the frequency of attacks.
Dong-A emphasized that with the signing of the agreement, it will exclusively sell the nation’s only migraine relief medical device that has received U.S. Food and Drug Administration’s 510K (premarket approval) and European CE-MDD (European Medical Device Directive) certification. Nu Eyne will manufacture the device and provide after-sales service.
Nu Eyne is an electroceutical technology R&D company that treats dry eye, glaucoma/macular degeneration, tinnitus, migraine, facial nerve palsy, ADHD/ASD, lung cancer, and other diseases.
In January, Nu Eyne launched ELEXIR, an electroceutical for migraine, in Korea. The collaboration with Dong-A will re-launch the product by maintaining the core technology but renewing the appearance and product name. The company reportedly discontinued cooperative ties with its previous partner BN last year, switching its collaborative partnership to Dong-A.
“As this medical device has passed rigorous certifications in the U.S. and Europe, we believe it will be a good choice for migraine patients as a digital healthcare solution,” a Dong-A Pharm official said. “Dong-A Pharmaceutical will continue to focus on strengthening new businesses and securing new growth engines to become a consumer-centered healthcare company."
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