“Customized precision medicine based on individual genetic information is evolving into a new paradigm of smart technology in combination with artificial intelligence (AI) technology.”
Han Se-kwang, CEO of Hwai Biomed (Seokcheon-seok, professor of new supplies engineering at POSTECH), a grasp of precision medicine, made the announcement on the third Ok Venture Renaissance Forum, which opened on the Pohang University of Technology Change-Up Ground on the twentieth. This 12 months’s discussion board centered on precision medical start-ups that had been born within the lab for Ok Venture’s international leap ahead. Precision medical care refers to using individual traits such because the affected person’s genetic information and life-style for the remedy or prevention of ailments.
Representative Han defined that because the completion of the human gene mapping undertaking in 2000, the price of gene sequencing has not too long ago fallen to round $1,000 and the period of personalised precision medicine is opening. Super connectivity within the period of the 4th industrial revolution, the applying of massive information and AI applied sciences to actuality additionally promoted the evolution of precision medical expertise.
CEO Han based Huai Biomed in 2014 based on the analysis outcomes of POSTECH Medical Nanomaterials Research Laboratory. Instead of drawing blood, Huai Biomed makes a sensible contact lens for diagnosing diabetes that measures the sugar focus in tears. It is growing sensible contact lenses for diagnosing and treating numerous varieties of ailments reminiscent of lenses for treating eye ailments utilizing mild, lenses for treating glaucoma sufferers, and lenses for correcting imaginative and prescient utilizing corneal cross-linking. If it goes by means of scientific trials subsequent 12 months, it is anticipated to be commercialized for the primary time on the earth inside two to 3 years. It is a expertise that the world is being attentive to, reminiscent of Google growing a related Google lens.
While international corporations reminiscent of Samsung Electronics, Apple, and Google are making enormous investments in sensible wearable machine analysis, sensible contact lenses are thought of as merchandise that will likely be successfully utilized with nanotechnology.
CEO Han stated, “Contact lenses are highly scalable as a healthcare platform.” In addition to diagnostic and therapeutic lenses, Huai Biomed plans to commercialize blood sugar administration and early prognosis of issues.
Woo Jung-hoon, CEO of BW Biomed, a international medical business consulting agency, pressured that startups and the federal government ought to reply strategically to the U.S. R&D funds minimize. The authorities ought to broaden cooperation with the United States, together with joint analysis, and Korean enterprise corporations ought to actively search abroad cooperation. The United States is the world’s largest medical demand nation, with annual medical expenditures per capita of $14,971 (about 22 million gained). If the U.S. federal funds is lowered, the chance of delaying the U.S. Food and Drug Administration’s (FDA) new drug licensing course of or conservative assessment of licensing information will increase.
However, CEO Woo emphasised, “We need to prepare for the opportunity to replace the initial research gap at the National Institutes of Health (NIH) or the pipeline gap at multinational pharmaceutical companies with Korean technology.”
“In order for practical medical innovations such as personalized treatment and AI-based medicine to reach patients, research results must open the laboratory,” POSTECH President Kim Sung-geun stated in a congratulatory speech on the opening ceremony. “Sweden is leading world-class medical research, and Korea can be an optimal partner with a dynamic business environment based on top-notch medical institutions, universal health insurance, and vast medical data.”
Swedish Ambassador to Korea Karl Olof Andersson stated, “Global challenges require global solutions,” including, “The cooperation between Korea and Sweden’s scientific communities with dynamic start-up ecosystems is meaningful.”
Son Hyun-duk, chief editor of Maeil Business Newspaper, additionally stated, “In an era of high uncertainty, we hope that Korea and Sweden will work more closely to pioneer the future and seize opportunities in ABCD areas such as AI, bio, cultural content, defense industry, and energy.”
[Reporter Lee Hanna in Pohang]