| Kwunho Jeong, CEO of JNPMEDI
| Developing None-Face-to-Face Digital Clinical Solutions
| Targeting a $142 Billion Market by 2026
"We are developing the only 'Decentralized Clinical Trial (DCT)' solution in Asia-Pacific."
Kwunho Jeong, CEO of JNPMEDI (pictured), stated in an interview with Hankook Economic Daily on the 8th, "Singapore's sovereign wealth fund Temasek has also invested in our early stages, recognizing this potential." He emphasized, "The DCT market is expected to grow rapidly." DCT refers to clinical trials that escape traditional methods by applying digital technologies, allowing for non-face-to-face or remote clinical trials. It is the most crucial part of the drug development process.
Despite the downturn in investment sentiment in the bio-industry last year, JNPMEDI successfully raised a total of KRW 16 billion in initial investment. Pavilion Capital, a growth investment specialist subsidiary of Temasek, participated as the lead investor. The global DCT market is expected to grow from $88 billion in 2021 (approximately KRW 11.58 trillion) to $142 billion (approximately KRW 18.70 trillion) by 2026, with an annual growth rate of over 10%.
Traditional clinical trial methods were hospital-centered. For patients residing in remote areas to participate in clinical trials, there were inconveniences such as multiple visits to metropolitan hospitals. Patients with weakened immunity were also at risk of exposure to various infectious diseases such as pneumonia in hospitals. In contrast, DCT enables all clinical procedures to be conducted with just a mobile phone. Using a mobile phone, clinical data can be collected, and medications can be received at home. Digital medical devices such as continuous glucose monitors, blood pressure monitors, and spirometers can be integrated to allow medical professionals to monitor patients' conditions in real time. To enable all these, digital solutions are essential, and JNPMEDI specializes in developing them.
JNPMEDI's DCT solution product name is 'Maven'. A representative case of obtaining product approval using Maven is Welt's insomnia treatment 'Welt-I'. CEO Jeong mentioned, "We have already secured a foundation for long-term growth, such as winning a 10-year clinical project." He added, "Our goal is to succeed in global expansion and be among the top 3 'DCT companies that large global pharmaceutical companies want to collaborate with'."
| Kwunho Jeong, CEO of JNPMEDI
| Developing None-Face-to-Face Digital Clinical Solutions
| Targeting a $142 Billion Market by 2026
"We are developing the only 'Decentralized Clinical Trial (DCT)' solution in Asia-Pacific."
Kwunho Jeong, CEO of JNPMEDI (pictured), stated in an interview with Hankook Economic Daily on the 8th, "Singapore's sovereign wealth fund Temasek has also invested in our early stages, recognizing this potential." He emphasized, "The DCT market is expected to grow rapidly." DCT refers to clinical trials that escape traditional methods by applying digital technologies, allowing for non-face-to-face or remote clinical trials. It is the most crucial part of the drug development process.
Despite the downturn in investment sentiment in the bio-industry last year, JNPMEDI successfully raised a total of KRW 16 billion in initial investment. Pavilion Capital, a growth investment specialist subsidiary of Temasek, participated as the lead investor. The global DCT market is expected to grow from $88 billion in 2021 (approximately KRW 11.58 trillion) to $142 billion (approximately KRW 18.70 trillion) by 2026, with an annual growth rate of over 10%.
Traditional clinical trial methods were hospital-centered. For patients residing in remote areas to participate in clinical trials, there were inconveniences such as multiple visits to metropolitan hospitals. Patients with weakened immunity were also at risk of exposure to various infectious diseases such as pneumonia in hospitals. In contrast, DCT enables all clinical procedures to be conducted with just a mobile phone. Using a mobile phone, clinical data can be collected, and medications can be received at home. Digital medical devices such as continuous glucose monitors, blood pressure monitors, and spirometers can be integrated to allow medical professionals to monitor patients' conditions in real time. To enable all these, digital solutions are essential, and JNPMEDI specializes in developing them.
JNPMEDI's DCT solution product name is 'Maven'. A representative case of obtaining product approval using Maven is Welt's insomnia treatment 'Welt-I'. CEO Jeong mentioned, "We have already secured a foundation for long-term growth, such as winning a 10-year clinical project." He added, "Our goal is to succeed in global expansion and be among the top 3 'DCT companies that large global pharmaceutical companies want to collaborate with'."