"If it's a product that anyone can make, we don't even look at it. Because it's innovation that makes things that never existed in the world. It starts with innovation and goes to innovation. That's Waycen's DNA and roadmap."
With the 4th industrial revolution, the number of MEDTECH companies with artificial intelligence is increasing rapidly in Korea.
Although they are accelerating commercialization based on their competitiveness, there are not many products that have actually been chosen by the market.
However, some companies bloom rapidly even in these uncertain markets. Waycen is sweeping the Innovation Award at CES, which is called the world's largest venue for innovative technology.
Waycen starting to target global market after sweeping CES
Waycen is rapidly entering the global market with achievements that cannot be considered a fourth-year startup, including winning the CES Innovation Award for the second consecutive year and winning two CES Innovation Awards. CEO Kim Kyung-nam, who is leading this, summarized the background with the word "innovation."
"The word innovation might be grander if you think, but it's simple in nature. What medical staff need but are not yet in the world. And when you do that, it's innovation. Waycen has focused on this since the founding preparation stage and is only doing this. That's Waycen's DNA."
Waycen's first item implemented in this way is WAYMED endo. Artificial intelligence that analyzes gastroscopy and colonoscopy in real time to find lesions. Waymed Endo is the first artificial intelligence in the world that can be applied to both gastroscopy and colonoscopy.
CEO Kim Kyung-nam said, "It is true that most diagnostic assistive artificial intelligence has been limited to still images such as X-rays and CT screens," adding, "There has been a demand for diagnostic assist through images in real time, but few companies have implemented it with technology."
He added, "In particular, even large global companies have limited technologies for colonoscopy, and WayMed Endo is the only artificial intelligence that can be applied to both gastroscopy and colonoscopy," adding, "This is why we were able to enter the global market."
In fact, WayMed Endo is attracting so much attention from medical staff that it will be installed in more than 30 medical institutions, including health examination centers, in about a year after obtaining permission from the Ministry of Food and Drug Safety in January last year.
In particular, it has entered Vietnam and Thailand as technology that has been known through CES Innovation Awards, and has entered into pilot services by signing partnerships with Saudi Arabia, Kuwait, and Egypt through Arab Health this year.
In just a year, it has set the stage for overseas expansion as well as domestic. This is a remarkable achievement compared to the fact that many artificial intelligence companies do not yet have a clear profit model.
CEO Kim Kyung-nam said, "Clinical evidence is already continuously accumulating through real world data at home and abroad, and more medical institutions are converting based on this," adding, "Waymed Endo alone is expected to generate more than 1 billion won in sales this year."
In particular, he’s expecting Waymed Endo to have sufficient competitiveness in the global market in that it is very compatible and there is very little time delay compared to competitive products.
They are confident that they are not afraid of the global market as they have implemented artificial intelligence that is optimized for the functions that medical staff need most.
CEO Kim Kyung-nam said, "The paradigm of artificial intelligence is already changing from still images to videos and also in real time," adding, "However, companies with these technologies are extremely limited, and there are no competitors even if you look around the world."
He also emphasized, "In particular, large global products are highly competitive in terms of compatibility by applying all datasets of major endoscopic equipment such as Olympus, Medtronic, and Pentax from the development stage."
Continued launch of follow-up lineups such as Waymed Cough "needs a success myth"
Based on this innovation, Waycen launched "WAYMED Cough," an app-based consumer medical device that can check respiratory health simply by recording voices on a smartphone, as a follow-up lineup.
Waymed Cough is already preparing to enter the global market by conducting pilot projects in Southeast Asian countries beyond Korea.
Then, where do these ideas come from. CEO Kim Kyung-nam cited collaboration with medical staff as the driving force.
CEO Kim Kyung-nam said, "As innovative products such as Waymed Endo are introduced to the world, medical staff are now visiting Waycen, calling it a 'medi-tech restaurant,' adding, "They are bringing in the unmet demand of medical staff that must be solved with technology."
More than 30 medical staff are gathered, including major medical managers at Big 5 Hospital, he added. "Starting with their unmet demand, development, and upgrade, we cannot come out with products that medical staff turn a blind eye to."
This collaboration is soon becoming Waycen's competitiveness. This is why high-quality gardens of ideas to datasets are being built as key doctors from major university hospitals in Korea are gathered in Waycen.
CEO Kim Kyung-nam said, "This is why WayMed Endo was able to quickly enter the global market," adding, "It is because Korea has the highest number of gastroscopy and colonoscopy cases in the world, and clinical data is high enough to be immediately put into the learning model."
"In particular, as it started with the unmet demand of medical staff, numerous doctors are giving real-time feedback on the models created through them beyond scrambling to provide data," he said. "This collaboration model is Waycen's biggest competitiveness and differentiation."
This foundation also relieves Waycen's concerns about the next lineup. As medical staff continue to present ideas and alternatives to unmet demand, patents are actually being followed as a bonus.
In fact, Waycen has applied for more than 20 registered patents in four years since its foundation and has created a wide range of protective films ranging from the United States, China, and Japan.
Based on this, Waycen is now preparing for the next step. Currently, the most likely next lineup is digital therapy devices (DTx). The decision is based on the judgment that the market is opening among the gardens that have already been prepared with medical staff since its foundation.
CEO Kim Kyung-nam said, "We have already set up the underlying technology in cooperation with medical staff and aim to complete the clinical trial by the end of this year," adding, "The current roadmap is to start clinical trials next year and finish licensing at the end of next year."
"Digital therapy devices can rise expectations as they have innovation that is completely different from those released in the past," he said adding, "There will be products that are completely different from competitors."
However, he has a negative view of competition at domestic market. It is an opinion that domestic companies can become a medical technology powerhouse only if they harmonize.
"Korea is a very special country with all of the world's best IT technology, excellent medical systems, and high-quality datasets," CEO Kim Kyung-nam said. "We have enough soil for global leaders in the field of artificial intelligence and medical technology."
In addition, he said, "Now is the time to grow this competitiveness into the maximum pie, so it is time for everyone to have a partnership and move to the global market," adding, "Waycen wants to be the vanguard in this advance."
Waycen, an AI MEDTECH company, announced on the 21st that it will participate in the International Medical Device Hospital Equipment Exhibition (KIMES) held at COEX for four days from the 23rd to the 26th.
Waycen will organize a booth with products that won the CES 2023 Innovation Award at this KIMES.
Waycen will present 3 product services including, AI digestive endoscope "WAYMED ENDO," which won the CES innovation award for the second consecutive year, artificial intelligence respiratory self-screening service "WAYMED Cough," which won the CES 2023 innovation award, and artificial intelligence lung cancer metastasis prediction bronchial ultrasound endoscopy "WAYMED EBUS."
In addition to the independent booth, Weissen plans to display its products at the Korea Health Industry Promotion Agency's Digital Healthcare Center and the KOTRA Medista Initiative Showcase Hall to showcase medical AI solutions to various visitors.
In particular, the Digital Healthcare Center of the Korea Health Industry Promotion Agency is expected to attract the attention of domestic and overseas buyers as it can see the products being piloted at Saint Paul Hospital in Vietnam.
CEO Kim Kyung-nam of Waycen said, "We expect to be able to introduce various innovative products to medical officials as we organized the booth with the CES 2023 Innovation Award."
Meanwhile, Waycen plans to hold an exhibition at COEX C Hall #513 booth, where KIMES 2023 will be held, and hold booth consultations with medical staff who are considering introducing medical AI products.
Waycen, a company specializing in AI MEDTECH, announced on the 30th that it will participate in "Arab Health 2023," one of the world's top three medical device exhibitions, to be held in Dubai until February 2nd to explore the Middle East market.
The company plans to introduce AI digestive endoscopy "WAYMED Endo" at the Arab Health this time and launch a full-fledged attack on the Middle East market, including the United Arab Emirates (UAE). WAYMED ENDO, which will be introduced at this exhibition, has won the CES Innovation Award for the second consecutive year, and is an artificial intelligence medical device software that can analyze digestive endoscopy images in real time to check abnormal lesions in the stomach and large intestine.
"As a result of a preliminary market survey through local experts, the Arab Health Exhibition is expected to serve as a cornerstone for targeting the Middle East market with great growth potential," said Kim Kyung-nam, CEO of Waycen.
Meanwhile, Arab Health is the largest healthcare exhibition in the Middle East, which marks its 48th anniversary this year since its first hosting in 1976, and boasts a high status of more than 4,000 companies and 100,000 people from around the world. Waycen attracted the attention of global companies after winning four innovation awards at CES 2023 in January. In this exhibition, it is expected to lay the foundation for a new business network in the Middle East market and start targeting overseas markets in earnest.
Waycen, a company specializing in AI MEDITECH, became the first medical AI company to win four awards at the CES Innovation Award.
According to the results of the 'CES 2023' Innovation Award announced by the American Consumer Technology Association (CTA) on the 16th, Waycen received four innovation awards for WAYMED COUGH, WAYMED Endo PRO, WAYMED EBUS. It won two awards in the digital healthcare category and two in the software and mobile apps category, respectively.
With this award, Waycen has once again been recognized for its technology in real-time image analysis technology and medical big data analysis technology. In addition, three of the award-winning products were developed through joint research with medical staff, significantly implying the fact that medical experts and artificial intelligence company worked together.
WAYMED COUGH is the world's first artificial intelligence self-screening app service that can check patients' respiratory health status through a smartphone app. The service was jointly studied with Moon Kyung-min, a professor of respiratory medicine at GangNeung Asan Hospital, and Dr. Jeon Jin-hee (CEO of JIMT). Artificial intelligence analyzes users' respiratory health and helps anyone easily manage respiratory health, making the company win the CES 2023 Innovation Award in two categories: digital healthcare, software, and mobile apps, respectively.
Waymed Endo, which won the industry's first CES 2022 Innovation Award this year for technology that combines artificial intelligence technology with endoscopes, has been named the Innovation Award for the second consecutive year as a result of upgrading with collaborative technology. It was jointly studied by Kim Ji-hyun, a professor of Gastroenterology at Gangnam Severance Hospital, and can detect abnormal areas (protuberance or dent) in real time during endoscopy.
Waymed EBUS analyzes bronchial ultrasound endoscopy images in real time to determine malignant lung cancer metastasis. It is a solution using Waycen's real-time image analysis technology and was studied with a research team led by Kim Eun-young and Yongseung-hyun, a professor of respiratory medicine at Severance Hospital. Bronchoscopy ultrasound and fine needle aspiration (EBUS-TBNA) take a lot of time and effort, and it has been recognized for its innovation in that it can drastically reduce time and cost.
On the other hand, Waycen is becoming a global company in the medical AI industry by being selected as the top 4 at the "National Representative 1000 of Innovative Companies" and the global healthcare award "Medtech Innovator APAC" three years after its establishment.
[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.
'WayMED endo’ is implemented in both Kangbuk Samsung Hospital and St. Paul hospital
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."
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."
"If it's a product that anyone can make, we don't even look at it. Because it's innovation that makes things that never existed in the world. It starts with innovation and goes to innovation. That's Waycen's DNA and roadmap."
With the 4th industrial revolution, the number of MEDTECH companies with artificial intelligence is increasing rapidly in Korea.
Although they are accelerating commercialization based on their competitiveness, there are not many products that have actually been chosen by the market.
However, some companies bloom rapidly even in these uncertain markets. Waycen is sweeping the Innovation Award at CES, which is called the world's largest venue for innovative technology.
Waycen starting to target global market after sweeping CES
Waycen is rapidly entering the global market with achievements that cannot be considered a fourth-year startup, including winning the CES Innovation Award for the second consecutive year and winning two CES Innovation Awards. CEO Kim Kyung-nam, who is leading this, summarized the background with the word "innovation."
"The word innovation might be grander if you think, but it's simple in nature. What medical staff need but are not yet in the world. And when you do that, it's innovation. Waycen has focused on this since the founding preparation stage and is only doing this. That's Waycen's DNA."
Waycen's first item implemented in this way is WAYMED endo. Artificial intelligence that analyzes gastroscopy and colonoscopy in real time to find lesions. Waymed Endo is the first artificial intelligence in the world that can be applied to both gastroscopy and colonoscopy.
CEO Kim Kyung-nam said, "It is true that most diagnostic assistive artificial intelligence has been limited to still images such as X-rays and CT screens," adding, "There has been a demand for diagnostic assist through images in real time, but few companies have implemented it with technology."
He added, "In particular, even large global companies have limited technologies for colonoscopy, and WayMed Endo is the only artificial intelligence that can be applied to both gastroscopy and colonoscopy," adding, "This is why we were able to enter the global market."
In fact, WayMed Endo is attracting so much attention from medical staff that it will be installed in more than 30 medical institutions, including health examination centers, in about a year after obtaining permission from the Ministry of Food and Drug Safety in January last year.
In particular, it has entered Vietnam and Thailand as technology that has been known through CES Innovation Awards, and has entered into pilot services by signing partnerships with Saudi Arabia, Kuwait, and Egypt through Arab Health this year.
In just a year, it has set the stage for overseas expansion as well as domestic. This is a remarkable achievement compared to the fact that many artificial intelligence companies do not yet have a clear profit model.
CEO Kim Kyung-nam said, "Clinical evidence is already continuously accumulating through real world data at home and abroad, and more medical institutions are converting based on this," adding, "Waymed Endo alone is expected to generate more than 1 billion won in sales this year."
In particular, he’s expecting Waymed Endo to have sufficient competitiveness in the global market in that it is very compatible and there is very little time delay compared to competitive products.
They are confident that they are not afraid of the global market as they have implemented artificial intelligence that is optimized for the functions that medical staff need most.
CEO Kim Kyung-nam said, "The paradigm of artificial intelligence is already changing from still images to videos and also in real time," adding, "However, companies with these technologies are extremely limited, and there are no competitors even if you look around the world."
He also emphasized, "In particular, large global products are highly competitive in terms of compatibility by applying all datasets of major endoscopic equipment such as Olympus, Medtronic, and Pentax from the development stage."
Continued launch of follow-up lineups such as Waymed Cough "needs a success myth"
Based on this innovation, Waycen launched "WAYMED Cough," an app-based consumer medical device that can check respiratory health simply by recording voices on a smartphone, as a follow-up lineup.
Waymed Cough is already preparing to enter the global market by conducting pilot projects in Southeast Asian countries beyond Korea.
Then, where do these ideas come from. CEO Kim Kyung-nam cited collaboration with medical staff as the driving force.
CEO Kim Kyung-nam said, "As innovative products such as Waymed Endo are introduced to the world, medical staff are now visiting Waycen, calling it a 'medi-tech restaurant,' adding, "They are bringing in the unmet demand of medical staff that must be solved with technology."
More than 30 medical staff are gathered, including major medical managers at Big 5 Hospital, he added. "Starting with their unmet demand, development, and upgrade, we cannot come out with products that medical staff turn a blind eye to."
This collaboration is soon becoming Waycen's competitiveness. This is why high-quality gardens of ideas to datasets are being built as key doctors from major university hospitals in Korea are gathered in Waycen.
CEO Kim Kyung-nam said, "This is why WayMed Endo was able to quickly enter the global market," adding, "It is because Korea has the highest number of gastroscopy and colonoscopy cases in the world, and clinical data is high enough to be immediately put into the learning model."
"In particular, as it started with the unmet demand of medical staff, numerous doctors are giving real-time feedback on the models created through them beyond scrambling to provide data," he said. "This collaboration model is Waycen's biggest competitiveness and differentiation."
This foundation also relieves Waycen's concerns about the next lineup. As medical staff continue to present ideas and alternatives to unmet demand, patents are actually being followed as a bonus.
In fact, Waycen has applied for more than 20 registered patents in four years since its foundation and has created a wide range of protective films ranging from the United States, China, and Japan.
Based on this, Waycen is now preparing for the next step. Currently, the most likely next lineup is digital therapy devices (DTx). The decision is based on the judgment that the market is opening among the gardens that have already been prepared with medical staff since its foundation.
CEO Kim Kyung-nam said, "We have already set up the underlying technology in cooperation with medical staff and aim to complete the clinical trial by the end of this year," adding, "The current roadmap is to start clinical trials next year and finish licensing at the end of next year."
"Digital therapy devices can rise expectations as they have innovation that is completely different from those released in the past," he said adding, "There will be products that are completely different from competitors."
However, he has a negative view of competition at domestic market. It is an opinion that domestic companies can become a medical technology powerhouse only if they harmonize.
"Korea is a very special country with all of the world's best IT technology, excellent medical systems, and high-quality datasets," CEO Kim Kyung-nam said. "We have enough soil for global leaders in the field of artificial intelligence and medical technology."
In addition, he said, "Now is the time to grow this competitiveness into the maximum pie, so it is time for everyone to have a partnership and move to the global market," adding, "Waycen wants to be the vanguard in this advance."
Source https://www.medicaltimes.com/Main/News/NewsView.html?ID=1152729&ref=naverpc
Waycen, an AI MEDTECH company, announced on the 21st that it will participate in the International Medical Device Hospital Equipment Exhibition (KIMES) held at COEX for four days from the 23rd to the 26th.
Waycen will organize a booth with products that won the CES 2023 Innovation Award at this KIMES.
Waycen will present 3 product services including, AI digestive endoscope "WAYMED ENDO," which won the CES innovation award for the second consecutive year, artificial intelligence respiratory self-screening service "WAYMED Cough," which won the CES 2023 innovation award, and artificial intelligence lung cancer metastasis prediction bronchial ultrasound endoscopy "WAYMED EBUS."
In addition to the independent booth, Weissen plans to display its products at the Korea Health Industry Promotion Agency's Digital Healthcare Center and the KOTRA Medista Initiative Showcase Hall to showcase medical AI solutions to various visitors.
In particular, the Digital Healthcare Center of the Korea Health Industry Promotion Agency is expected to attract the attention of domestic and overseas buyers as it can see the products being piloted at Saint Paul Hospital in Vietnam.
CEO Kim Kyung-nam of Waycen said, "We expect to be able to introduce various innovative products to medical officials as we organized the booth with the CES 2023 Innovation Award."
Meanwhile, Waycen plans to hold an exhibition at COEX C Hall #513 booth, where KIMES 2023 will be held, and hold booth consultations with medical staff who are considering introducing medical AI products.
Source https://www.medipana.com/article/view.php?news_idx=309620&sch_cate=F
Waycen, a company specializing in AI MEDTECH, announced on the 30th that it will participate in "Arab Health 2023," one of the world's top three medical device exhibitions, to be held in Dubai until February 2nd to explore the Middle East market.
The company plans to introduce AI digestive endoscopy "WAYMED Endo" at the Arab Health this time and launch a full-fledged attack on the Middle East market, including the United Arab Emirates (UAE). WAYMED ENDO, which will be introduced at this exhibition, has won the CES Innovation Award for the second consecutive year, and is an artificial intelligence medical device software that can analyze digestive endoscopy images in real time to check abnormal lesions in the stomach and large intestine.
"As a result of a preliminary market survey through local experts, the Arab Health Exhibition is expected to serve as a cornerstone for targeting the Middle East market with great growth potential," said Kim Kyung-nam, CEO of Waycen.
Meanwhile, Arab Health is the largest healthcare exhibition in the Middle East, which marks its 48th anniversary this year since its first hosting in 1976, and boasts a high status of more than 4,000 companies and 100,000 people from around the world. Waycen attracted the attention of global companies after winning four innovation awards at CES 2023 in January. In this exhibition, it is expected to lay the foundation for a new business network in the Middle East market and start targeting overseas markets in earnest.
Source: https://www.asiatoday.co.kr/view.php?key=20230130010014046
Waycen, a company specializing in AI MEDITECH, became the first medical AI company to win four awards at the CES Innovation Award.
According to the results of the 'CES 2023' Innovation Award announced by the American Consumer Technology Association (CTA) on the 16th, Waycen received four innovation awards for WAYMED COUGH, WAYMED Endo PRO, WAYMED EBUS. It won two awards in the digital healthcare category and two in the software and mobile apps category, respectively.
With this award, Waycen has once again been recognized for its technology in real-time image analysis technology and medical big data analysis technology. In addition, three of the award-winning products were developed through joint research with medical staff, significantly implying the fact that medical experts and artificial intelligence company worked together.
WAYMED COUGH is the world's first artificial intelligence self-screening app service that can check patients' respiratory health status through a smartphone app. The service was jointly studied with Moon Kyung-min, a professor of respiratory medicine at GangNeung Asan Hospital, and Dr. Jeon Jin-hee (CEO of JIMT). Artificial intelligence analyzes users' respiratory health and helps anyone easily manage respiratory health, making the company win the CES 2023 Innovation Award in two categories: digital healthcare, software, and mobile apps, respectively.
Waymed Endo, which won the industry's first CES 2022 Innovation Award this year for technology that combines artificial intelligence technology with endoscopes, has been named the Innovation Award for the second consecutive year as a result of upgrading with collaborative technology. It was jointly studied by Kim Ji-hyun, a professor of Gastroenterology at Gangnam Severance Hospital, and can detect abnormal areas (protuberance or dent) in real time during endoscopy.
Waymed EBUS analyzes bronchial ultrasound endoscopy images in real time to determine malignant lung cancer metastasis. It is a solution using Waycen's real-time image analysis technology and was studied with a research team led by Kim Eun-young and Yongseung-hyun, a professor of respiratory medicine at Severance Hospital. Bronchoscopy ultrasound and fine needle aspiration (EBUS-TBNA) take a lot of time and effort, and it has been recognized for its innovation in that it can drastically reduce time and cost.
On the other hand, Waycen is becoming a global company in the medical AI industry by being selected as the top 4 at the "National Representative 1000 of Innovative Companies" and the global healthcare award "Medtech Innovator APAC" three years after its establishment.
Source: https://n.news.naver.com/mnews/article/215/0001066613?sid=101
[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.
Source: 의학신문
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 (sjpen@wowtv.co.kr)
Source: 한국경제
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 (nkk0208@dailian.co.kr)
Source: Dailian
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.
Source: https://n.news.naver.com/mnews/article/277/0005091007?sid=101
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