CHICAGO, Ill. -- By Lee Han-soo/Korea Biomedical correspondent -- Korean medical AI company Neurophet unveiled its enhanced brain imaging analysis portfolio at the Radiological Society of North America (RSNA) 2024, showcasing newly FDA-cleared multiple sclerosis (MS) detection capabilities alongside its Alzheimer's disease monitoring solutions.

The company's appearance at radiology's largest global gathering in Chicago comes at a pivotal moment, as the FDA's approval of Eisai and Biogen's Leqembi (ingredient: lecanemab) has created unprecedented demand for precise neurological imaging analysis.

The company's flagship software, Neurophet AQUA, now offers comprehensive analysis of multiple sclerosis lesions through rapid quantification of MRI scans. Its specialized Alzheimer's solution, Neurophet AQUA AD, provides critical monitoring capabilities for patients receiving anti-amyloid treatments.

These technological advances come at a crucial time as healthcare providers worldwide seek more efficient and accurate ways to manage complex neurological conditions.

Against this backdrop, Korea Biomedical Review met with Neurophet Co-CEO Been Jun-kil where he shared a vision of transformation in Alzheimer's disease management, where artificial intelligence-powered imaging analysis is becoming increasingly crucial for patient care.

The Korean medical AI company, marking its fourth consecutive appearance at RSNA, finds itself at the intersection of two significant trends: the emergence of new Alzheimer's therapeutics and the growing need for precise brain imaging analysis.

"The paradigm of Alzheimer's diagnosis and monitoring has fundamentally shifted with the introduction of new therapeutics like Leqembi," Been said. "Previously, image analysis tools were primarily aids for visual interpretation. Now, they've become essential for treatment decisions and monitoring potential side effects like ARIA (Amyloid-Related Imaging Abnormalities)."

Neurophet's timing could hardly be better. Following Leqembi's approval, approximately 2,000 U.S. hospitals are now equipped to prescribe anti-amyloid treatments, each requiring sophisticated imaging analysis solutions. The treatment protocol demands multiple MRI scans per patient to monitor for potential side effects, creating a substantial new market for specialized imaging analysis tools.

The company's AQUA AD solution has been specifically designed to support the full lifecycle of anti-amyloid treatment, from initial patient eligibility assessment through ongoing monitoring. The system can quantify amyloid accumulation and precisely measure treatment-related changes, including the detection of ARIA, which has emerged as a critical safety consideration for these new therapeutics.

“The paradigm of Alzheimer's diagnosis and monitoring has fundamentally shifted with the introduction of new therapeutics," Been said. "Previously, image analysis tools were primarily aids for visual interpretation.”

However, they've become essential for treatment decisions and monitoring potential side effects like edema or microbleeding, he added.

Neurophet's flagship solution quantifies amyloid accumulation in the brain and provides precise measurements of treatment-related changes.

Been stressed that capability has become particularly relevant as new Alzheimer's treatments enter the market, requiring careful monitoring of both therapeutic effects and potential adverse events.

The company's technology can detect and measure brain edema and microbleeding, both of which are critical factors in treatment decisions.

"For instance, if edema exceeds 5 centimeters, treatment must be discontinued," Been said. "This isn't something that can be accurately assessed by eye, even by experienced clinicians.”

As a result, precise measurement tools using AI are now indispensable, he added.

The market opportunity extends well beyond the United States. Leqembi's approval sequence - with U.S., Japan, China, Korea, Hong Kong, Israel, the United Arab Emirates, and Great Britain - has created a particularly strong opening for Neurophet in Asian markets.

The company's algorithms, trained on diverse ethnic populations, are especially well-suited to address the anatomical variations between Asian and Western patients, giving them a competitive advantage over Western competitors whose systems were primarily developed using Caucasian patient data.

During the interview, Been also outlined how the company's global expansion strategy is taking shape through strategic partnerships and subsidiary establishments in key markets.

Neurophet has formed a joint venture in China and is strengthening its presence in Japan.

In the U.S., the company is collaborating with Dr. Stephen Salloway, the Director of Neurology and the Memory and Aging Program at Butler Hospital in Providence. He has been instrumental in developing treatment guidelines.

A recent milestone enhancing the company's competitive position was U.S. FDA approval for multiple sclerosis diagnosis features, received in November.

"This addition allows us to compete more effectively with established players in the U.S. and European markets," Been said.

Neurophet’s edge extends beyond Alzheimer's disease, offering comprehensive analysis capabilities for a range of neurological conditions, unlike many competitors who focus solely on one area.

Been also painted a rosy picture for expanding its business as the ongoing healthcare workforce challenges globally, particularly the shortage of medical professionals, have unexpectedly accelerated the adoption of AI solutions.

"Radiologists are already overwhelmed with their current workload," Been said. "The new Alzheimer's treatments require multiple MRI scans per patient, with careful comparisons to previous images. Our solutions can significantly reduce the time needed for these analyses."

The company's financial trajectory also shows promising signs.

Neurophet projects reaching its break-even point by 2026, targeting annual revenue of 20 billion won ($14.1 million).

For 2024, the company expects to close with revenues of around 3.2 billion won, slightly below initial projections due to the ongoing dispute between the government and the medical community regarding the medical school admission quota increase.

However, Been remains optimistic about 2025, targeting revenues of 10 billion won, with an increasing portion expected to come from international markets.

Recent market performance supports this optimism.

“The company's MRI analysis solution customer base has doubled from 30 to 62 institutions over the past year, while PET analysis implementations have grown from 4 to 11 sites,” Been said. “International expansion is already showing results, with their Chinese partner recently committing to purchase 25 units of their MRI analysis software, matching their previous commitment for PET analysis solutions.”

Similarly, five units have been confirmed for sale in Japan, pending administrative procedures, he added.

As Neurophet continues to expand its global footprint, Been emphasizes that the company's success isn't merely a response to market opportunities.

"We've been methodically building our technological capabilities over the years," he says. "The emergence of new therapeutics has created a perfect moment for our solutions, but this alignment is the result of long-term preparation rather than hasty adaptation."