Neofect "Ybrain, Hwanin Pharm Sign Joint Business Agreement for EEG Diagnostic System"

[Asia Economy Reporter Hyunseok Yoo] Neofect announced on the 24th that its affiliate Ybrain has signed a joint business contract with Hwanin Pharm to enter the domestic market with the brainwave diagnostic system ‘Mindd Scan’.

‘Mindd Scan’ is a wireless quantitative brainwave measurement system developed by Ybrain. It is a depression treatment device that helps improve neuropsychiatric disorders by regulating brain function through subtle electrical stimulation. This system uses semi-dry electrodes for easy measurement and allows patients to use it conveniently with a short examination time. It also provides analysis result reports that are easy for anyone to understand.

The two companies expect that ‘Mindd Scan’ will provide a high-quality medical environment for healthcare professionals and increase treatment satisfaction for patients. Lee Gi-won, CEO of Ybrain, said, “Through this contract, we plan to actively conduct sales activities targeting domestic general hospitals and clinics starting in March by utilizing Hwanin Pharm’s sales network. We will not only actively pioneer domestic and international markets but also fully commit to building the world’s first electronic medicine home treatment platform with the goal of a technology-specialized IPO next year.”

Last month, Ybrain secured new investments of 6.4 billion KRW from venture capital firms including Neofect, and Neofect is the largest shareholder with about a 25% stake.

This content was produced with the assistance of AI translation services.