MedInTech Selected as Lead Organization for KRW 9.5 Billion Government R&D Project
MedInTech CI (Provided by MedInTech)
[Asia Times = Reporter Ji-young Lee]
Medical device startup MedInTech announced on the 10th that it has been selected for the ‘Pan-Ministry Full-Cycle Medical Device Research and Development Project,’ a government-led initiative valued at KRW 9.5 billion.
The Pan-Ministry Full-Cycle Medical Device R&D Project is a national program planned to lead the future medical environment in the era of the Fourth Industrial Revolution. It is jointly administered by multiple ministries—the Ministry of Science and ICT, the Ministry of Trade, Industry and Energy, the Ministry of Health and Welfare, and the Ministry of Food and Drug Safety—to establish an advanced medical system. A key distinction of this project is that medical professionals, researchers, and companies jointly participate in all stages of the development process.
MedInTech was selected as the lead organization for this project and formed a consortium. Participating institutions for joint research and development include Seoul National University Hospital (Division of Gastroenterology, Professor Ji-gon Ryu), Seoul National University (Department of Biomedical Engineering, Professor Sung-wan Kim), the Korea Electrotechnology Research Institute (RSS Center, Principal Researcher Young-min Bae), and Korea Polytechnic University (Department of Nano Semiconductor Engineering, Professor Mi-sook Jung).
Through this government project, MedInTech will receive KRW 9.5 billion in funding over five years (including KRW 8.79 billion in government support). With this funding, the company will carry out a project to develop a high-performance smart flexible endoscope system for gastrointestinal use, based on motorization and artificial intelligence technologies.
Currently, there are no domestic companies in Korea that manufacture reusable, high-performance gastrointestinal endoscope systems. The outcomes of this consortium’s research and development are expected to make a significant contribution to the localization and commercialization of medical screening endoscopes, a market that is currently heavily dependent on Japanese products.
Professor Ji-gon Ryu, Head of the Division of Gastroenterology at Seoul National University Hospital and co–principal investigator of the project, stated, “The development of Korea’s first domestically produced flexible endoscope will be highly meaningful,” adding, “We plan to lead user evaluations as well as preclinical and clinical trials in collaboration with medical staff at the Gastrointestinal Endoscopy Center and Gangnam Center, and will work toward successful commercialization in Korea.”
Professor Sung-wan Kim, Chair Professor of the Department of Biomedical Engineering at Seoul National University College of Medicine, commented, “Looking back on more than 40 years of biomedical engineering development, this marks the beginning of truly meaningful domestic medical device R&D,” adding, “I will lead the participating biomedical engineering researchers and do my utmost to ensure successful development.”
Chi-won Lee, CEO of MedInTech, said, “Through the selection of this project, we aim to take the lead in the localization of gastrointestinal endoscopes by developing an endoscopy system that addresses the limitations of existing endoscopes, reduces physician fatigue, and enhances procedural safety.”
View the original article
https://www.asiatime.co.kr/article/20210610500015
https://www.getnews.co.kr/news/articleView.html?idxno=534531
http://www.bosa.co.kr/news/articleView.html?idxno=2152538
http://www.healthinnews.co.kr/news/articleView.html?idxno=23701
http://www.medical-tribune.co.kr/news/articleView.html?idxno=100641
https://news.mt.co.kr/mtview.php?no=2021061010180411801
http://www.medicaltimes.com/Users/News/NewsView.html?mode=view&ID=1141059&REFERER=NP
http://www.kmedinfo.co.kr/news/articleView.html?idxno=68287
http://www.monews.co.kr/news/articleView.html?idxno=304792
http://www.yakup.com/news/index.html?mode=view&cat=14&nid=258140
http://www.yakup.com/news/index.html?mode=view&cat=12&nid=258151
http://www.nbntv.co.kr/news/articleView.html?idxno=929171
https://newsis.com/view/?id=NISX20210610_0001472421&cID=13104&pID=13100
https://www.fetv.co.kr/news/article.html?no=87593
http://www.youthdaily.co.kr/news/article.html?no=73643
http://medicalworldnews.co.kr/news/view.php?idx=1510942752
http://www.docdocdoc.co.kr/news/articleView.html?idxno=2011527
MedInTech Selected as Lead Organization for KRW 9.5 Billion Government R&D Project
MedInTech CI (Provided by MedInTech)
[Asia Times = Reporter Ji-young Lee]
Medical device startup MedInTech announced on the 10th that it has been selected for the ‘Pan-Ministry Full-Cycle Medical Device Research and Development Project,’ a government-led initiative valued at KRW 9.5 billion.
The Pan-Ministry Full-Cycle Medical Device R&D Project is a national program planned to lead the future medical environment in the era of the Fourth Industrial Revolution. It is jointly administered by multiple ministries—the Ministry of Science and ICT, the Ministry of Trade, Industry and Energy, the Ministry of Health and Welfare, and the Ministry of Food and Drug Safety—to establish an advanced medical system. A key distinction of this project is that medical professionals, researchers, and companies jointly participate in all stages of the development process.
MedInTech was selected as the lead organization for this project and formed a consortium. Participating institutions for joint research and development include Seoul National University Hospital (Division of Gastroenterology, Professor Ji-gon Ryu), Seoul National University (Department of Biomedical Engineering, Professor Sung-wan Kim), the Korea Electrotechnology Research Institute (RSS Center, Principal Researcher Young-min Bae), and Korea Polytechnic University (Department of Nano Semiconductor Engineering, Professor Mi-sook Jung).
Through this government project, MedInTech will receive KRW 9.5 billion in funding over five years (including KRW 8.79 billion in government support). With this funding, the company will carry out a project to develop a high-performance smart flexible endoscope system for gastrointestinal use, based on motorization and artificial intelligence technologies.
Currently, there are no domestic companies in Korea that manufacture reusable, high-performance gastrointestinal endoscope systems. The outcomes of this consortium’s research and development are expected to make a significant contribution to the localization and commercialization of medical screening endoscopes, a market that is currently heavily dependent on Japanese products.
Professor Ji-gon Ryu, Head of the Division of Gastroenterology at Seoul National University Hospital and co–principal investigator of the project, stated, “The development of Korea’s first domestically produced flexible endoscope will be highly meaningful,” adding, “We plan to lead user evaluations as well as preclinical and clinical trials in collaboration with medical staff at the Gastrointestinal Endoscopy Center and Gangnam Center, and will work toward successful commercialization in Korea.”
Professor Sung-wan Kim, Chair Professor of the Department of Biomedical Engineering at Seoul National University College of Medicine, commented, “Looking back on more than 40 years of biomedical engineering development, this marks the beginning of truly meaningful domestic medical device R&D,” adding, “I will lead the participating biomedical engineering researchers and do my utmost to ensure successful development.”
Chi-won Lee, CEO of MedInTech, said, “Through the selection of this project, we aim to take the lead in the localization of gastrointestinal endoscopes by developing an endoscopy system that addresses the limitations of existing endoscopes, reduces physician fatigue, and enhances procedural safety.”
View the original article
https://www.asiatime.co.kr/article/20210610500015
https://www.getnews.co.kr/news/articleView.html?idxno=534531
http://www.bosa.co.kr/news/articleView.html?idxno=2152538
http://www.healthinnews.co.kr/news/articleView.html?idxno=23701
http://www.medical-tribune.co.kr/news/articleView.html?idxno=100641
https://news.mt.co.kr/mtview.php?no=2021061010180411801
http://www.medicaltimes.com/Users/News/NewsView.html?mode=view&ID=1141059&REFERER=NP
http://www.kmedinfo.co.kr/news/articleView.html?idxno=68287
http://www.monews.co.kr/news/articleView.html?idxno=304792
http://www.yakup.com/news/index.html?mode=view&cat=14&nid=258140
http://www.yakup.com/news/index.html?mode=view&cat=12&nid=258151
http://www.nbntv.co.kr/news/articleView.html?idxno=929171
https://newsis.com/view/?id=NISX20210610_0001472421&cID=13104&pID=13100
https://www.fetv.co.kr/news/article.html?no=87593
http://www.youthdaily.co.kr/news/article.html?no=73643
http://medicalworldnews.co.kr/news/view.php?idx=1510942752
http://www.docdocdoc.co.kr/news/articleView.html?idxno=2011527