i-SENS, a Kosdaq-listed biotech company, said on Monday that it had completed its National Health Insurance Fund (NEAK) enrollment in Hungary for CareSens Air, Korea’s first domestic continuous glucose monitor (CGM).

i-SENS launched  CareSense Air in September last year in Korea and expanded internationally in May through a contract with Hungarian healthcare company 77 Elektronika. Following this partnership, the registration with Hungary's NEAK has been completed and will take effect in July.

i-SENS said CareSens Air is Hungary's first integrated CGM product. Approximately 45,000 Hungarian adults with type 1 diabetes will benefit from the NEAK coverage, which will subsidize 80 percent of the product cost. Additionally, hospitals will offer a four-week free trial of the CGM to type 1 diabetes patients, after which a three-month prescription can be issued for continued insurance coverage.

Through this contract, i-SENS has granted 77 Elektronika exclusive distribution rights for CareSens Air in Hungary. Leveraging 77 Elektronika's  network, i-SENS aims to increase product awareness and sales across Hungary, targeting the country's diabetes market, the company said.

Nam Hak-hyun, CEO of i-SENS, said, “The partnership with 77 Elektronika – a major player in the European healthcare sector – will serve as a conduit for i-SENS’s innovative technology to reach the European market, especially Hungary.”

Starting with this export to Hungary, i-SENS plans to expand its CGM to five European countries and launch it in 16 countries by the end of this year.

Additionally, i-SENS recently issued convertible bonds worth 50 billion won ($36 million) to invest in an automated CGM production line at its Songdo factory. The company also said it is preparing for a full-scale entry into the U.S. market this year, with the goal of obtaining FDA approval by the end of 2027.