KT Corporation and Hanmi Pharmaceutical promote business cooperation with Digital Pharm, a Korean company specializing in digital treatment devices and electronic drugs
20 Junio 2022 - 7:35PM
Digital platform company KT Corporation (CEO Koo Hyun-mo;
www.kt.com) and Hanmi Pharmaceutical (CEO Woo Jong-su, Kwon
Se-chang), a pharmaceutical company specializing in R&D-focused
new drug development, have co-invested in Digital Pharm, a company
specializing in DTx and electroceuticals. The companies announced
on June 19, 2022 that KT and Hanmi completed their investments in
Digital Pharm and held a launch ceremony.
This business alliance is the first case in which Korea’s
leading information and communication technology (ICT) companies,
pharmaceutical companies, and medical institutions have partnered
to exploit their respective capabilities. Digital Pharm, a
subsidiary of Catholic University of Korea Technology Holding
Company, was founded in November 2021 by Professor Kim Dai-jin of
Catholic University’s Seoul St. Mary’s Hospital.
In the future, KT plans to develop a digital treatment platform,
establish business strategies for the new company, and build a
pipeline of digital treatment devices and electroceuticals. Hanmi
will establish digital therapeutics B2H (business to hospital) and
sales and marketing strategies to activate the nascent digital
therapeutics prescription market. KT and Hanmi plan to drive
additional value through strategic licenses.
Digital Pharm’s ongoing business will be to discover new DTx
pipelines in various disease areas and support the clinical
research infrastructure essential for commercial development. It is
scheduled to start a confirmatory clinical trial in the second half
of the year for an addiction-related digital treatment e-medication
targeting alcohol and nicotine, which is currently under
development. In addition, Digital Pharm will focus on developing
digital therapies for various diseases, such as hearing loss and
dysphagia, and the platforms to allow them to be used remotely.
The prospects for the digital therapeutics market are bright.
The global digital therapeutics market is growing at an average
annual rate of 23% and is expected to reach US$17.3 billion (22.4
trillion Korean won) by 2028. As the domestic digital therapeutics
market is still in its infancy, it is expected that Digital Pharm,
a company specializing in digital therapeutics, will play a leading
role in the market.
KT is also conducting an exploratory clinical trial for a
digital therapeutic to treat chronic heart failure, and expects to
see results within the year. In addition, it is planning to target
the domestic market by securing a commercial license for
NeuroSigma’s FDA-cleared digital therapeutic device targeting
attention deficit hyperactivity disorder (ADHD) and potentially
other disorders such as epilepsy.
Previously, KT has shown an intention to expand its digital
healthcare business by investing $5 million in NeuroSigma in
December 2021. NeuroSigma is the developer of the Monarch eTNS
(external trigeminal nerve stimulation) device, which received US
Food and Drug Administration (FDA) clearance as an electroceutical
for the field of pediatric ADHD. NeuroSigma is working to expand
the use of the Monarch eTNS device beyond ADHD, to include other
neuropsychiatric disorders such as depression and drug-resistant
epilepsy. KT and NeuroSigma are cooperating to advance the
development and commercialization of the next-generation of eTNS
products in Korea, and are planning to partner with Digital Pharm
as well.
“I believe KT and Hanmi Pharmaceutical, Korea’s leading
companies in ICT and pharmaceuticals, can create synergy to lead
the future digital healthcare market,” said Song Jae-ho, Head of
KT’s AI/DX convergence business division. “KT not only will focus
on building a leading digital therapeutics platform, but also will
share know-how in building strategic plans and pipelines in both
the digital therapeutics and electroceuticals areas to successfully
let Digital Pharm lead both domestic and foreign markets.”
Checkmate Capital Group has served as strategic advisor in
relation to the digital health partnership, licensing and strategic
investments involving NeuroSigma. “We find the Digital Pharm
collaboration involving KT, Hanmi Pharmaceutical and Catholic
University, the largest hospital in Korea, to be a powerful and
innovative combination of leaders in important fields. We expect
their unprecedented collaboration to catapult digital and
electroceutical therapies to the front lines of critical CNS
treatments. These treatments offer non-invasive, non-drug
alternatives to high-risk surgeries and potentially harmful drugs,”
said Jay Ryu, Managing Director of Checkmate Capital Group.
About KT Corporation (KRX:030200; NYSE:KT)KT
Corporation, an international digital telecommunications company,
reestablished in 1981 under the Telecommunications Business Act, is
leading the era of innovation in the world's most connected
country. The company is leading the fourth industrial revolution
with high-speed wire/wireless networks and new ICT technology. KT
has selected Digital Health, AI, Big Data, Cloud, and Robot as its
next leading businesses. This is another milestone in KT's
continuous efforts to deliver essential products and services as it
aspires to be DIGICO KT. For more information about KT Corporation,
please visit www.kt.com.
About Checkmate Capital
Checkmate Capital is an investment and strategic
advisory group managing family office assets with a global
commercial and financial network. Checkmate Capital's primary areas
of investment are biotechnology, agriculture and waste technology,
and energy technology. Our team is able to provide seasoned
expertise in our focused industries, leveraging an international
group of strategic partners, business talent, and resources. For
more information, visit www.checkmatecapital.net.
Jay Ryu Jay@CheckmateCapital.net
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