[Medical Newspaper, Daily Life Insurance = Reporter Oh In-gyu] Waycen (CEO Kim Kyung-nam), a company specializing in AI MEDTECH, announced on the 11th that it was selected as the "1000 National Representative of Innovative Companies."
Based on the evaluation of related ministries (12 ministries, including the Ministry of Science and ICT and the Ministry of Trade, Industry and Energy), the "1000 National Representative of Innovative Companies" is a policy project to help selected companies with financial support and technology commercialization over three years.
In this project, Waycen was selected for its innovation and marketability in real-time analysis video technology. Waycen's own technology for real-time video analysis technology and the value of related technology patents have been recognized, which means that it has been certified by the government as a technology that will bring new innovation to the medical industry.
Waycen is an AI MEDTECH company established in 2019. Based on real-time medical video analysis technology and medical big data technology, it is supplying AI medical solutions that will lead next-generation medical innovation. In particular, WAYMED Endo, which obtained a medical device license earlier this year, is the first AI gastrointestinal endoscopy product in Korea with a gastric/colorectal lineup.
AI analyzes endoscopic images and videos in real time, serves as an assistant to notify medical staff the location of abnormal lesions, and can help operate high-quality endoscopic tests in hospitals.
In addition, WAYMED endo can be linked regardless of the brand of the endoscopic equipment manufacturer, and can be used without the Internet, so it can be quickly applied to the existing endoscopic examination environment.
Based on these advantages, the product is currently operating a pilot project at St. Paul General Hospital in Hanoi, Vietnam, and helps to raise the level of medical services that can improve the quality of endoscopy by local medical staff and provide high-quality endoscopic medical services.
Meanwhile, Waycen is the only innovative company in Korea that has unique real-time video analysis technology. In recognition of this innovation, he won the CES Innovation Award earlier this year, and was recently selected as the only Korean company in the Medtech Innovator APAC Top 4, a global healthcare program, after fierce competition with companies located in the Asia-Pacific, including the United States.
AI MEDTECH company Waycen (CEO Kim Kyung-nam) put its name among honorable TOP 4 in the final competition at ‘Medtech Innovator APAC’ on last 26th. It was the only Korean company went far up to the final.
Waycen's product submitted to the accelerator program is "WAYMED endo," an artificial intelligence-based real-time gastrointestinal endoscopic video analysis device. It seemed to receive high scores from the evaluation team in that it is compatible with existing endoscopic equipment and can be used for both gastric and colon endoscopy.
Being selected as TOP 4 accelerator program, Waycen laid the foundation for entering the global market with a $10,000 prize and mentoring opportunity by Johnson & Johnson. It is also expected to speed up its entry into overseas businesses by receiving love calls from global medical devices producers and investors who attended the Singapore awards ceremony.
Waycen, the only Korean startup in the final round, has been honored with a series of awards after receiving the CES 2022 Innovation Awards, and is being recognized worldwide for its technology. In addition, as the AI gastrointestinal endoscopy pilot project is underway in cooperation with local hospitals in Vietnam, overseas expansion is also being carried out in stages, revealing incompatible technology and business results for real-time video analysis technology.
Meanwhile, MedTech Innovator Asia Pacific Accelerator Program (hereinafter referred to as Medtech Innovator) is an annual program to discover healthcare innovation company and conducted by Medtech Innovator. Sponsored by various Global healthcare companies such as Johnson & Johnson, NIPRO, Align, and Siemens Healthcare, the program is famous for actively cultivating competent companies.
Waycen, AI MEDTECH company, was recognized for its technology in the global healthcare market, being selected as a top 20 company in the Asia Pacific Accelerator Program organized by Medtech Innovator.
Medtech Innovator Asia-Pacific Program is an annual program to discover healthcare innovation company and conducted by Medtech Innovator. Sponsored by various Global healthcare companies such as Johnson & Johnson, NIPRO, Align, and Siemens Healthcare, the program is famous for actively cultivating competent companies. The judges are also composed of officials from global healthcare companies and institutions and evaluate the products.
Waycen was selected for its innovation and technology in artificial intelligence based real-time endoscopic video analysis technology. The related product, "WAYMED endo", is an artificial intelligence technology that quickly and accurately detects abnormal lesions during gastrointestinal and colon endoscopy to improve medical staff's work accuracy and patient's digestive health.
Through this qualification, Waycen will receive customized mentoring from global healthcare companies and investors. It also matches one-on-one with partners that can help commercialize Asia and the Americas. Waycen said, "As we are already conducting a pilot project through a cooperative hospital in Vietnam, we expect to gain momentum from the current overseas expansion project."
"This year's Asia-Pacific Accelerator program has selected the most promising companies in the field that want to solve critical life-related problems in healthcare," said Paul Grand, CEO of Medtech Innovator.
Following the CES Innovation Award earlier this year, Waycen's technology has been recognized globally, said Kim Kyung-nam, CEO of Waycen. "We will do our best to establish ourselves as an AI MEDTECH company that leads the medical markets in Asia and the U.S."
Meanwhile, Waycen has recently collaborated with a local hospital in Hanoi, Vietnam, to push for a pilot project of the AI gastrointestinal endoscope "WAYMED endo" and is actively working on a project to target the Southeast Asian market. It plans to expand its overseas business by discovering partners to make good business results in Asia and the Americas within this year.
Reporter Sujin Kim (email@example.com)
Experts in St. Paul General Hospital in Hanoi, Vietnam is using WayMED endo.
[Dailian = Reporter Kungkyung Nam] AI MEDTECH company Waycen began AI gastrointestinal joint project at the local hospital in Vietnam to transfer ‘K-digital health care.’
Waycen, which has a partnership with Kangbuk Samsung hospital in the digital healthcare field, announced on the 1st that it will implement a pilot project for gastrointestinal endoscopy cooperation through AI-based gastric and colonoscopy software "WayMED Endo" at St. Paul General Hospital in Vietnam starting this month.
The pilot project plans to install Waycen's AI-based gastric and colon-endoscopic video analysis software, WayMED endo in the endoscopy room of St. Paul General Hospital, and use the global cooperation platform to directly transfer endoscopic skills and know-how for high-quality endoscopic tests to Vietnamese medical staff. Since actual endoscopy is conducted for overseas Koreans and local citizens, the project is receiving a lot of attention in Vietnam.
St. Paul General Hospital is founded in 1911. It is one of the leading general hospitals in Hanoi with more than 1,000 beds. Through this pilot project, St. Paul General Hospital plans to improve the level of endoscopy and contribute to leveling up the medical services so it can provide high-quality endoscopic medical services, encouraging healthy life of not only Vietnamese but also Koreans living there.
“WayMED endo was recognized for its innovation at CES earlier this year and is believed to have high potential to be used as global medical services through this pilot project in Vietnam” said Kim Kyung-nam, CEO of Waycen. "We will do our best to preoccupy the global medical market beyond Asia with next-generation endoscopic product."
Reporter Kungkyung Nam (firstname.lastname@example.org)
Waycen announced on the 19th that it was finally selected for the 4th Industrial Revolution and Future Medical Environment Leading Project which is one of the 2nd pan-ministerial medical device research and development project in 2022 thanks to the development of Digital Treatment for Panic Disorders (DTx). This is the second DTx-related order following last year's for brain diseases.
Through this project, Waycen plans to develop DTx that can handle panic disorder by analyzing smartphone’s digital data and biometric data with artificial intelligence. It also plans to prepare the foundation for commercialization by receiving support for acquiring clinical license for the business period of four years.
The pan-ministerial medical device research and development project is a national wide project led by 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. In particular, it is meaningful in that all of the stages of the project are processed by both companies and medical experts as a team led by Professor Kim Jae-jin of the Department of Psychiatry at Gangnam Severance Hospital participates as a joint research institute.
Through this project, Waycen is expected to receive about 4 billion won worth of project funds over four years. It will develop DTx that can generate digital phenotypes based on digital data and body data of panic disorder patients and provide patient-specific customized training/education contents.
Panic disorder is a typical anxiety disorder and has the highest one-year prevalence among mental disorders, but it has been difficult to take clinical trial due to intermittent visits, burden on patients for drug treatment, and high cost of cognitive behavioral treatment. The use of DTx on a mobile platform is expected to greatly improve the quality of clinical care as well as the mental health of the people. In particular, digital transitions such as mobile-based self-training content that can alleviate symptoms by oneself when panic attacks occur and continuous monitoring of patients' biological signals during daily life are expected to contribute to reducing social burdens along with caring individual mental health.
Waycen and Kangbuk Samsung Hospital began pilot operation of AI based gastroenterology endoscope video analysis software at a local hospital of Vietnam where the number of gastroenterologist is limited.
AI MEDTECH specialist, Waycen, announced on the 12th that it has been selected for the "ICT-based medical system’s pilot project for overseas market" along with Kangbuk Samsung Hospital. Organized by the Korea Health Industry Promotion Agency and the Ministry of Health and Welfare, the project aims to create an environment for overseas expansion based on Korea's excellent ICT technology and lay the foundation for spreading K-medical to medical developing countries.
Waycen, who was selected as the organizer of this project, explained that it plans to work with Kangbuk Samsung Hospital to install "WAYMEDendo," an artificial intelligence-based gastroenterology endoscopic video analysis software in Hanoi, Vietnam, and test-run it for overseas Koreans and local people who suffer from digestive disease. In addition, in combination with the non-face-to-face medical platform established by Kangbuk Samsung Hospital, Vietnamese medical staff education and mobile cooperation between domestic medical staff will be conducted.
Meanwhile, starting with this project, Waycen plans to install its "WAYMED endo" in Vietnamese-based hospitals and aggressively explore the Vietnamese medical market in earnest.
"This year will be the first year of Waycen's WAYMED endo business," said Kim Kyung-nam, CEO of Waycen. "We want to show specific results within this year by aggressively targeting the Vietnamese market along with the domestic one."
Source: Digital Chosun
Waycen, an AI MEDTECH company, signed a strategic business agreement with JK Partners, a Vietnamese business consulting company, on the 24th.
This agreement aims to enter the Vietnamese medical market with Waycen's AI gastrointestinal endoscope "WAYMED endo."
JK Partners is a specialized company that consults Korean companies' entry and investment into the Vietnamese business at the Korea Chamber of Commerce and Industry (Kocham) in Vietnam. Discussions are underway to introduce WAYMED endo to some major hospitals in Vietnam.
The pilot operation will begin as early as the first half of the year.
WAYMED endo analyzes endoscopic images in real time and detects abnormal lesions while performing endoscopic examinations, and can be used immediately, being compatible with existing endoscopic facilities.
It is also the only AI gastrointestinal endoscope in Korea that has both gastric and colon lineup and each has been certified by the Ministry of Food and Drug Safety for second-class medical devices, respectively.
Vietnam is an attractive market for medical device companies in that it relies on imports for about 90% of the medical device market and produces domestic products limited to basic ones.
A company official explained, "Vietnam lacks relatively skilled professional medical staff, and WAYMED endo will be highly competitive in the Vietnamese market as medical devices using artificial intelligence technology because it can contribute to upgrade medical quality."
AI MEDTECH company Waycen announced on the 7th that a paper proving the effectiveness of artificial intelligence to predict the metastasis of lung cancer was published in the SCIE international journal, Translational Lung Cancer Research (hereinafter referred to as TLCR).
This study was conducted in collaboration with a research team led by Professor Kim Eun-young and Yong Seung-hyun of the Department of Respiratory Medicine at Severance Hospital. It was conducted to develop and check accuracy of an artificial intelligence algorithm that reads bronchoscopy ultrasound images of lung cancer patients in real time to find malignant lymph nodes where lung cancer has spread.
The artificial intelligence algorithm developed through the study was evaluated based on 2,394 bronchoscopy ultrasound images, and the encouraging performance of AUC 0.8 was confirmed for the detection of malignant lymph nodes. It was found to exhibit superior performance than that of the existing academia. As a result, the possibility of automatic reading of bronchoscopy ultrasound images using artificial intelligence technology has been confirmed.
In this study, Waycen was in charge of developing an artificial intelligence algorithm that analyzes bronchoscopy ultrasound images in real time to determine whether lung cancer has metastasis to lymph nodes. It was developed as an artificial intelligence algorithm that can be analyzed 1.5 times faster and more accurately than the existing CNN structure. This is an artificial intelligence technology that can analyze images in real time lighter and faster than existing ones, and based on this, the technology is considered to be a more suitable algorithm for the actual clinical environment and will be of practical help to domestic and foreign medical staff.
Endobronchial ultrasound-guided transbronchial needle aspiration (EBUS-TBNA) is a standard method of endobronchial lymph node biopsy to check for metastasis in lung cancer patients, but it requires a lot of time, effort, and is heavily dependent on the subjective analysis and personal experience. This study is expected to be another useful example of artificial intelligence algorithms applicable to clinical sites in that a new technology which accurately select lymph nodes that require biopsy by objectively and comprehensively evaluating lung cancer metastasis has been developed.
Professor Kim Eun-young of Severance Hospital, the writer of corresponding paper, said, "Through this artificial intelligence algorithm, malignant lymph nodes that require biopsy during bronchoscopy ultrasound surgery can be selected in real time. Thus, it can contribute to the safer environment for patients by improving the accuracy of lung cancer diagnosis and shortening the test time."
"This study was a good opportunity to check the performance of Waycen's artificial intelligence self-lightening technology and research using our patented technology," said Kim Kyung-nam, CEO of Waycen. "We will focus on research to develop the technological competitiveness of Waycen's artificial intelligence algorithm."
Meanwhile, TLCR is a world-class academic journal with an impact factor of 6.498 as of 2021, which indicates the quality level of papers, and is recognized for its authority in the field of lung cancer-related medicine.
AI MEDTECH company Waycen Co., Ltd. (CEO Kim Kyung-nam) has AI software for endoscopic image analysis from the Ministry of Food and Drug Safety.
It was announced on the 17th that it has obtained second-class medical device certification for "WAYMED endo."
WAYMED endo (WAYMED endo ST and WAYMED endo CL) is a medical image analysis software that uses artificial intelligence technology to analyze endoscopic images in real time at the same time as stomach/colorectal endoscopy. It is an AI medical image analysis software that is used in conjunction with existing gastrointestinal endoscopy equipment, and artificial intelligence analyzes endoscopic images in real time to detect abnormal areas (rise or depression patterns) and displays areas.
Until now, only products that detect abnormalities in still images stored in PACS have been released as software that analyzes endoscopic images. However, "WAYMED endo" has accurate and fast detection performance for abnormal areas in real time, helping medical staff make quick judgments in endoscopy rooms and reducing fatigue accumulated through endoscopy, so it can be actively used in hospitals and examination centers where endoscopic examinations are concentrated. It can also help reduce the missed rate of endoscopy by medical staff and shorten the time for endoscopy.
WAYMED Endo is a product developed through a joint study with Waycen, an artificial intelligence company, and a research team led by Professor Kim Ji-hyun of the Department of Gastroenterology at Gangnam Severance Hospital. Experts from each field gathered to develop technologies necessary for the medical environment, and the product was completed through technical verification so that they could be actively used in the medical field.
Waycen CEO Kim Kyung-nam said, "WAYMED Endo has excellent performance by learning not only stationary images but also real-time videos using artificial intelligence technology, and this is the product that is considered to be the biggest strength." Starting with the first license obtained this time, we would like to create a new medical innovation in the domestic endoscopy market," he said, expressing his strong ambition.
Meanwhile, starting with the acquisition of the "WAYMED endo" license, it plans to start commercialization as a target for hospitals and examination centers in earnest. It will be introduced for the first time through 'KIMES 2022', an international medical device exhibition held at COEX in March.