Daewoong Pharmaceutical is partnering with medical AI company Weisen to enter the AI endoscopy software market. This move aims to expand its business scope by adding digital diagnostic solutions to its existing portfolio focused on gastrointestinal disease treatments.
On July 10, Daewoong announced that it has signed a sales consignment agreement for the AI endoscopy image analysis software, WAYMED Endo.
This collaboration is part of Daewoong's strategy to expand its digital healthcare business. The company plans to integrate AI-based diagnostic support software with its existing gastrointestinal products, including the gastroesophageal reflux disease treatment Pexuclu and the bowel cleansing agent CleanCol, to create a comprehensive solution.
Pexuclu has been a strong performer, generating sales of 20.3 billion won in the first quarter of this year, accounting for 6% of the company's total revenue. Launched in 2022 as Korea's 34th new drug, Pexuclu received product approval in China last year.
Under this partnership, the two companies will divide responsibilities to expand the domestic supply of WAYMED Endo. Daewoong will leverage its nationwide hospital sales network to market and sell the product to tertiary hospitals, general hospitals, health screening centers, and clinics, while Weisen will focus on product enhancement and technical support.
WAYMED Endo is an AI-based software that analyzes gastrointestinal endoscopic images in real-time. It assists in detecting lesions that are easily overlooked, such as those behind folds or at the edges, as well as small lesions measuring 2 to 3 millimeters. Additionally, it automatically measures key endoscopic quality indicators, such as examination and retrieval times, contributing to improved quality control and efficiency for medical professionals.
The software can be integrated with various endoscopic equipment, allowing healthcare facilities to adopt it without the need for additional capital investment in new equipment.
WAYMED Endo was designated as the 37th innovative medical device by the Ministry of Food and Drug Safety in July 2023 and is currently being utilized in medical institutions both domestically and internationally.
Daewoong CEO Lee Chang-jae stated, "This collaboration marks the starting point for expanding our digital healthcare business into the gastrointestinal disease sector, and we aim to contribute to improving the examination environment and efficiency for medical professionals."
Weisen CEO Kim Kyung-nam expressed optimism, stating, "Our partnership with Daewoong is expected to be a catalyst for expanding the domestic AI endoscopy market."
* This article has been translated by AI.
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