MEDI-IoT Partners with Daewoong Pharmaceutical to Pursue Overseas Expansion of Electronic Drug ‘MEDI-EYE’

[Medipana News = Reporter Jung Yoon-sik] MEDI-IoT is set to pursue the global launch of its electronic drug ‘MEDI-EYE’ for eye diseases in collaboration with Daewoong Pharmaceutical.

On the 25th, the 1st Investment Forum for Promising Bio Ventures and Startups in 2024 was held at KINTEX Hall 2 in Ilsan. This event, taking place over two days on the 25th and 26th, aims to facilitate networking between bio ventures/startups with promising technologies and platforms and investment companies, featuring IR presentations from a total of 15 companies.

On the first day of the event, Im Seung-joo, a researcher at MEDI-IoT, presented ‘MEDI-EYE (an electronic drug based on PBM for treating eye diseases).’

Researcher Im cited the increasing prevalence of ophthalmic diseases due to global population aging and industrialization as the background for developing MEDI-EYE. MEDI-EYE is an electronic drug utilizing ‘PBM (Photo-Bio-Modulation)’ and is indicated for dry eye syndrome and macular degeneration.

Im noted that existing treatments for dry eye syndrome and macular degeneration have the drawback of being unable to fundamentally cure the diseases, expressing hope that MEDI-EYE could address this unmet need.

According to Im, MEDI-IoT’s major achievements include presenting non-clinical trial results on PBM for macular degeneration and dry eye syndrome at the Society for Neuroscience (SfN) last year, as well as publishing related results in a JCR Q1 SCI journal.

Additionally, in 2021, MEDI-IoT was selected as a partner company in the inaugural InnoBear Startup School investment competition, organized by Daewoong Pharmaceutical, and is currently participating in the ‘TIPS (Tech Incubator Program for Startup)’ program.

MEDI-IoT has reportedly completed KC certification for the domestic wellness product launch of MEDI-EYE. Furthermore, the company holds six patents related to domestic eye disease treatments (two registered, four filed) and has recently initiated a PCT international application, according to Researcher Im.

Regarding future plans, Im stated that the company aims to secure early sales through the launch of MEDI-EYE wellness products starting in Q2, while simultaneously pursuing global product certification. Additionally, from Q4, they plan to seek manufacturing approval from the Ministry of Food and Drug Safety and announce efficacy results through clinical trials.

Researcher Im Seung-joo emphasized, “We are maintaining close collaboration with Daewoong Pharmaceutical for global expansion,” adding, “We are preparing plans to sequentially enter global markets, including Indonesia, China, and the United States.”

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