[이코노믹리뷰=황진중 기자] Handok (002390) begins to develop digital therapeutics with startup Welt.
Handok announced on the 22nd that it made a stake investment of 3 billion won in Welt and signed a strategic partnership to jointly develop a digital treatment for alcoholism and insomnia. Financial investors (FIs) in related fields also participated in this investment, and a total investment of 6 billion won was made.
This agreement is a part of the open innovation being unfolded by Korea and Germany. Handok expanded its research and development (R&D) to not only new biopharmaceuticals and medical devices, but also digital therapeutics.
Handok plans to strengthen its capabilities in digital therapeutic research, development, and commercialization through Welt, and jointly develop a digital treatment for alcoholism and insomnia. It secures exclusive sales rights in the domestic market for these two treatments, and has the right to first review the domestic joint development and commercialization of digital treatments developed or planned by Welt.
Welt is a startup that spun off from Samsung Electronics in 2016. It cooperates with a number of government agencies and is active as an Asian member of the global digital therapy industry association’DTA (Digital Therapeutics Alliance)’. Welt is currently introducing digital treatments in Korea through partnerships with leading global digital treatment companies. This is a project related to a business agreement with the National Mental Health Center of the Ministry of Health and Welfare in 2020 and a digital treatment for non-face-to-face mental health treatment.
Handok Chairman Kim Young-jin said, “I am very happy to cooperate with Welt, a leader in the field of digital therapeutics, amid the rapid growth of the digital healthcare market. “This year, we will accelerate the development of innovative digital therapeutics.”
Seongji Kang, CEO of Welt, said, “For Welt’s first digital therapeutic agent in Korea to succeed, a partnership with Handok, which has various new drug development and business know-how, is essential.” We hope that welts will be able to create synergy.”
Meanwhile, Handok is strengthening its R&D competitiveness through differentiated open innovation. Since 2006, when even the concept was unfamiliar in Korea,’Open Innovation’ has been selected as a future strategy, and research and development capabilities have been improved in a short time by linking with domestic and overseas research institutes and bio-ventures with excellent research capabilities. It is collaborating with bio-ventures possessing excellent source technologies such as Genexine, SCM Life Science, and ABL Bio, and is strengthening global competitiveness by cooperating with US bio-venture Resolute.
It is conducting joint research on innovative target anticancer drugs with CMG Pharmaceuticals and the National Anticancer Drug Development Project Group, and is developing medical devices with NB POSTECH and Handok Calos Medical. Handok is establishing an R&D center in Magok to strengthen the competitiveness of open innovation, and it is planned to be completed by the end of this year.