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Waycen (CEO Kim Kyung-nam) announced on the 18th that it has obtained an "excellent" grade in the 2023 artificial intelligence (AI) voucher support project organized by the Ministry of Science and ICT and the National IT Industry Promotion Agency (NIPA).

The AI voucher support project has been in progress since 2020, and it is a program that supports companies that want to apply artificial intelligence (AI) technology and provides opportunities to create new markets for companies that provide solutions.

Through this task, Waycen supplied 'WAYMED Endo', an artificial intelligence-based gastric/colonoscopy image analysis software at Gangneung Asan Hospital in May.

Since then, it has obtained an "excellent" grade in the final evaluation of the project and proved its software technology and effectiveness in the medical field.

Gangneung Asan Hospital introduced WAYMED Endo with the aim of operating high-quality endoscopy with AI technology as a hospital that has been certified as an excellent institution in the evaluation of national examination institutions for the past 12 years.

Through this project, Waycen gained a good opportunity to raise product technology and clinical effectiveness to the next level by supplying WAYMED Endo, a gastric/colonoscopy software using real-time AI technology in Gangneung Asan Hospital's examination center.

CEO Kim Kyung-nam said, "We will do our best to create good cases based on the reference of Gangneung Asan Hospital in Korea and abroad."


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Waycen is preparing a digital treatment that combines artificial intelligence (AI) technology as a new business to succeed the AI endoscopic image analysis device "WAYMED Endo." There are two digital treatments that have been approved in Korea so far: Aimmed's Insomnia Treatment "Somzz" and Welt's Insomnia Treatment "Welt-I." The goal is to introduce Korea's first digital treatment that combines AI technology in Korea next year.

To this end, Waycen submitted an empirical clinical trial plan (IND) for the panic disorder treatment "WAYMED Panic" to the Ministry of Food and Drug Safety on the 28th of last month. Digital therapeutics only need to go through two-stage clinical trials: empirical and confirmatory clinical trials, and considering the precedent, it is expected to be approved during the second half of next year if the clinical trials proceed smoothly. The goal is to start clinical trials from December.

Although Waycen is making sales with WAYMED Endo, an AI gastroscopy video analysis device, Waycen CEO Kim Kyung-nam has been deeply involved in the digital therapy industry since the beginning of the business, serving as an industry-academic cooperation director of the Korean Digital Therapy Association. CEO Kim said, "So far, digital treatments have only dealt with cognitive behavioral therapy (CBT), but Waycen will create competitiveness by adding AI to digital treatments based on its know-how in developing medical AI products." It is expected that institutional experience and clinical trial experience through medical AI such as WAYMED Endo will also help WAYMED Panic.

It is a challenge for WAYMED Panic to prove its marketability as a digital treatment. Fair Therapeutics, which introduced the first digital treatment approved by the U.S. Food and Drug Administration (FDA) as an industry leader, sold the remaining technology after bankruptcy to four companies at the beginning of the year. Color Health, a U.S. digital therapy developer invested by SK Biopharmaceuticals (326030) with SK (034730) Group, also laid off more than 100 employees in May, citing the financial crisis. Even in the United States, where more than half of the patents related to digital treatments are applied, some question the effectiveness or marketability of digital treatments as companies have struggled.

CEO Kim said, "If any of the three purposes of prevention, management, and treatment are met, the significance of existence as a 'therapy' can be recognized. Through biofeedback and accompanying services based on AI technology, we will create a different technological difference from other digital treatments and increase treatment efficiency."

The "Biofeedback" service that Waycen is developing helps patients breathe properly when symptoms of panic disorder appear by measuring inhalation and exhalation through sensors on their smartphones. The "companion service" that combines Chat GPT allows patients to communicate with chatbots and provide psychological stability when they visit crowded places. For the patient's continuous participation (retension), a method of making step-by-step prescriptions through an application was devised as if a doctor was giving a prescription.

CEO Kim said, "It will be a case like a best practice when digital therapeutics are combined with AI technology," adding, "The goal is to be first AI digital therapeutics and first overseas export digital therapeutics."


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A medical device to analyze gastroscopy to support the diagnosis of stomach cancer has been designated as innovative medical device.

The Ministry of Food and Drug Safety announced on the 19th that it has designated Waycen's "gastric cancer image detection and diagnosis assistance software" as the 37th innovative medical device.

The product assists in diagnostic decisions by analyzing gastroscopy images and providing suspected gastric cancer areas and gastric cancer probability to medical staff.

In particular, it was recognized for its innovation in diagnosing stomach cancer by analyzing gastroscopy images in real time with artificial intelligence technology applied with deep learning technology. It is expected to lead the expansion of the diagnosis assistance software market for gastric cancer.

The Ministry of Food and Drug Safety has designated a total of 37 products as innovative medical devices so far. An official from the Ministry of Food and Drug Safety said, "The operation of the innovative medical device designation system is expected to contribute to the actualization of the government's national task, 'Bio and Digital Health Global Central Country Leap.'"


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Waycen (CEO Kim Kyung-nam), an AI MEDTECH company, announced on the 13th that it will be selected as the "second innovative product pilot use project" by the Public Procurement Service and supply AI digestive endoscope "WAYMED ENDO" to three national hospitals.

Earlier, the Public Procurement Service (Director Kim Yoon-sang) selected 113 institutions that will pilot 59 innovative products worth 9.9 billion won to revitalize the domestic bio-health industry and released the results on the innovation market on the 11th.

Through this project, Waycen secured national hospital references by supplying AI digestive endoscopy "Waymed Endo" to a total of three hospitals: Gangneung Medical Center in Gangwon-do, Ilsan Hospital of the National Health Insurance Service, and Central Veterans Hospital of the Korea Veterans Welfare Medical Service. All three contracts are quite large in scale that they are introduced to the entire endoscopic room, not some.

 While Waycen is already steadily discovering customers by supplying the product to a number of hospitals in Korea, it is expected to gain momentum in the operation of public hospitals as well as private hospitals by supplying the product to three national and public hospitals.

WayMed Endo is a medical AI software that analyzes gastroscopy and colonoscopy images in real time to detect abnormal lesions and provide the possibility of diseases. Recently, it has secured the 3rd grade of approval from the Ministry of Food and Drug Safety as the first AI digestive endoscope in Korea, and it is showing high interest in hospitals and examination centers in that it can introduce artificial intelligence technology in conjunction with existing endoscopic equipment.

CEO Kim Kyung-nam said, "With the innovative products of the Public Procurement Service operating all industries, it is a great opportunity to supply Waycen's medical AI products to three national hospitals."

He stressed, "I think the Public Procurement Service has provided a good opportunity for the growth of the domestic bio-health industry, so I will do my best to take advantage of this opportunity to quickly spread and settle down medical AI products in national hospitals."

 Meanwhile, Waycen supplied AI digestive endoscopy "Waymed Endo" to Gangneung Asan Hospital in May, and participated as a representative company of medical AI for economic mission to Vietnam to accelerate its efforts to target overseas markets.


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Waycen announced on the 7th that it will be selected as an excellent project for the "ICT-based medical system overseas expansion pilot project" organized by the Korea Health Industry Development Institute and speed up its efforts to tap the Vietnamese medical market.

In the "ICT-based medical system overseas expansion pilot project" conducted last year, the Korea Health Industry Development Institute selected Waycen as an excellent project based on performance results and decided to provide follow-up support. With the selection of this excellent project, Waycen plans to expand hospitals that test-run the artificial intelligence (AI) digestive endoscope "WAYMED Endo" in Vietnam and continue to support the use of "WAYMED Endo" at St. Paul's General Hospital.

St. Paul General Hospital achieved the results of operating about 5,000 AI digestive endoscopy tests during the previous year's project. Waycen said they received a lot of feedback from local medical staff that AI digestive endoscopy helped them a lot in discovering small-sized lesions such as actual micropolyps.

Waycen plans to expand the scope of pilot operation to local national hospitals in Vietnam through the selection of excellent projects. Since the beginning of this year, it has already held several meetings with local consulting companies in Vietnam and local hospitals in Hanoi and Ho Chi Minh City to discuss the introduction of a trial.

Waycen is pursuing a strategy to create opportunities to enter Southeast Asian countries, including Thailand, based on Vietnamese references, and will focus on promoting the excellence of Korean medical technology to medical institutions around the world.

 Waycen contributed to promoting K-medical AI excellence by winning four innovation awards at CES 2023 held in the U.S. earlier this year, and Kim Kyung-nam, CEO of Waycen, received the Minister of Health and Welfare Award at "KIMES 2023" held at COEX in March.


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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.


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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.


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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.


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[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

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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.

5th floor, 524 Samseong-ro (Saehwa Building), Gangnam-gu, Seoul
TEL  +82-2-588-0863    l    FAX  +82-2-588-0862 

5th floor, 524 Samseong-ro (Saehwa Building), 
Gangnam-gu, Seoul
TEL  +82-2-568-0863    l    FAX  +82-2-568-0862