NEXT BIOMEDICAL secures expanded insurance coverage for GI bleeding prevention powder

NEXT BIOMEDICAL, a Korean medical solutions company, said Thursday that it has secured expanded health insurance coverage for its endoscopic hemostatic agent, Nexpowder, initially introduced as the “world’s first” agent of its kind to prevent gastrointestinal (GI) bleeding.

In January, Nexpowder received certification as an innovative medical technology from the National Evidence-based Healthcare Collaborating Agency (NECA), broadening its approved uses. Previously restricted to rescue therapy after failed standard hemostasis procedures, Nexpowder can now be used as a standalone or adjunctive treatment for Gl bleeding.

Following this certification, NEXT BIOMEDICAL obtained final listing approval from the Health Insurance Review & Assessment Service (HIRA), allowing for insurance reimbursement for Nexpowder’s expanded applications.

The company plans to expand its sales network to secondary hospitals in addition to tertiary ones.

Nexpowder is already approved by major regulatory bodies, including the European CE-MDR and the U.S. FDA, and is available in around 30 countries, including the U.S. and Europe. The company is also pursuing additional indications and standard treatment listings domestically and abroad to enhance product competitiveness.

NEXT BIOMEDICAL CEO Lee Don-haeng expressed satisfaction with the expanded use of Nexpowder, stating it “not only supports our revenue growth but also improves patients’ quality of life and meets the unmet needs of medical professionals.”

Nexpowder addresses the common challenge of rebleeding after endoscopic procedures by covering the bleeding site, thereby protecting it from further irritation, a complication that existing tools like clips often struggle to prevent fully.