NSN "Aiming for US FDA Approval Within the Year Through Bio Subsidiary"

John Kerry Appointed Outside Director, Former U.S. Senator

[Asia Economy Reporter Minwoo Lee] NSN is forming a new board of directors and is set to actively enter the U.S. healthcare market.

On the 12th, NSN announced that it will actively pursue entry into the U.S. healthcare market through medical devices developed by its subsidiary, Neurosona. At the regular shareholders' meeting in March, Kim Wonhee, Vice President of Irvine Investment Advisory, and John Kerry, Korea Investment Promotion Ambassador of the Korea Trade-Investment Promotion Agency (KOTRA), were appointed as CEO and outside director, respectively, in line with this strategy. In particular, John Kerry, a former U.S. Senator from the state of Maine, is expected to serve as a foothold for the company's U.S. market entry.

CEO Kim stated, "With the global trend of population aging, the fields of Alzheimer's and depression treatment are rapidly growing. Neurosona's development of brain disease medical devices has reached the final stage, and passing the U.S. Food and Drug Administration (FDA) gateway for entry into the U.S. healthcare market is the next step." He added, "This year, we will enhance shareholder value by strengthening financial soundness through continuous debt reduction efforts and full-scale capital expansion in the second half."

Neurosona projects that by 2050, the number of dementia patients in Korea will reach 3.03 million, and the global Alzheimer's treatment market size will reach 14 trillion KRW in 2024. Additionally, the global number of depression patients is currently estimated at 300 million, with a market size of 22 trillion KRW. Approximately 30% of depression patients exhibit treatment resistance to medication, which suggests that Neurosona can increase the market share of its developed therapeutic devices.

CEO Kim explained, "Neurosona's developed 'low-intensity focused ultrasound' stimulation system delivers stimulation deep into the brain, allowing precise targeting and treatment of specific brain areas, and enables non-invasive treatment for patients with intractable brain diseases. Unlike pharmaceuticals, therapeutic devices in the bio industry complete approval through two stages?preclinical and clinical?and if therapeutic effects are demonstrated in interim results, commercialization can proceed immediately."

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