[이코노믹리뷰=황진중 기자] Life Semantics is spurring IPOs based on its ability to lead the way in digital health platform technology. The company held a press conference in Yeouido, Seoul on the 4th, and announced plans after listing on the KOSDAQ.
Founded in 2012, Life Semantics is a leading digital health platform company using medical information technology and artificial intelligence. Based on the company’s core digital health technology platform,’LifeRecord®,’ it operates business fields such as medical my data, digital treatment, and non-face-to-face treatment. In July last year, in the technology evaluation, both organizations obtained A grade, and the process of listing on the KOSDAQ was initiated in earnest, receiving recognition for technology and business feasibility.
The total number of IPO shares of Life Semantics is 1 million, and the expected IPO price per share is 9,000 won to 12,500 won. Demand forecast for institutional investors will be conducted on the 8th to 9th to determine the offering price, and general subscription will be conducted on the 11th to 12th. The listing is scheduled for the end of March, and the representative organizer is Korea Investment & Securities.
Establish a business lineup in the field of digital health
Life Semantics”Life Code’ provides essential common technologies for each stage of the value chain, such as creation, collection, storage, analysis, value creation, and optimization of personal health data on a cloud basis. The core services provided are 11 types, including integration of health data scattered in various forms and types, data linkage between heterogeneous systems and devices, disease prediction artificial intelligence, knowledge contents, anonymization and encryption, security, and developer tools. Based on these Life Records, the company has built a full lineup of business in the field of digital health, such as digital therapy, non-face-to-face treatment, and medical my data.
Digital therapeutics are high-quality software medical devices that replace and complement existing therapeutics to prevent, manage, and treat medical disorders and diseases. The government is striving to improve regulations to maintain a sustainable health insurance system, such as preparing the legal basis for digital treatment licensing, the legal basis for applying health insurance for efficient medical resources, and including the subject of innovative medical technology evaluation.
Lifesemantics’ lineup of digital therapeutic products is’Redpill Sumton’, a respiratory rehabilitation program, and’Red Peel Care’, a prognosis management program for cancer patients. Red Peel Sumton is a solution to monitor, improve symptoms and increase activity levels of respiratory diseases, and Red Peel Care is a program for improving the quality of life through correct prognosis management for cancer patients.
Both products have been confirmed to have therapeutic effects through clinical trials at major domestic university hospitals. As the category of software medical devices was newly established in October of last year, the company aims to complete the approval and approval from the Ministry of Food and Drug Safety within this year. It also plans to spur the expansion of indications and development of new pipelines.
With the global pandemic of Corona 19, the demand for non-face-to-face treatment is on the rise. Life Semantics is a platform to leap to a global platform by obtaining temporary permission for the private first non-face-to-face treatment service through the regulatory sandbox last year with’Dr.Call’, a non-face-to-face treatment brokerage solution that supports remote monitoring. Prepared.
The Doctor Call service for overseas Koreans is operated in a way that pays service fees between patients and medical institutions, and has built a non-face-to-face treatment network in cooperation with major domestic hospitals such as Bundang Seoul National University Hospital and Seoul Asan Hospital. As temporary non-face-to-face treatment was allowed in Korea through the revision of the government guidelines and the infectious disease prevention method last year, the company plans to expand the Doctor Call service for Koreans.
Promoting clinical trials with the US FDA, becoming a leading global digital health company
Life Semantics’ medical my data business has a business structure that generates profits through customization after developing digital health services desired by customers, and is divided into B2B and B2C medical my data businesses.
The B2B medical my data business is a business structure that targets key customers to provide core technologies, establishes and manages digital health services, and receives API usage fees. The company is growing its business by signing contracts with major companies in the insurance, healthcare, and cloud fields such as Hanwha Life Insurance, Naver Cloud, and Body Friend. In addition, LH Korea Land and Housing Corporation is pursuing an intelligent home healthcare business for apartment residents, and plans to expand the business area to the construction field in the future.
B2C Medical My Data is a structure that receives service fees through continuous service enhancement by developing new services based on the Life Record platform. Individuals such as’H.AI’, a non-face-to-face sales support tool based on AI for disease prediction,’OHA’, a treatment solution created by cancer experienced and medical professionals, and’Works’, an integrated occupational health management solution based on disease risk prediction. Provides healthcare services anytime, anywhere based on health data.
Seung-Jae Song, CEO of Life Semantics, said, “We will achieve full-scale sales growth through the full-fledged B2B medical my data business, the release of B2C medical my data and non-face-to-face treatment solutions, and the commercialization of digital treatments.” We will leap forward as a leading global digital health company by promoting FDA clinical trials.”