[Featured Stock] Eoflow Smoothly Growing as an 18 Trillion Won Insulet Rival... "Artificial Pancreas Is the World's First"

[Asia Economy Reporter Hyunseok Yoo] EOPLUS has reached its highest stock price since its listing. Expectations that it will commercialize the world's first wearable artificial pancreas are influencing the stock price.

On the 6th, at 9:31 a.m., EOPLUS was traded at 29,400 KRW, up 11.57% (3,050 KRW) compared to the previous trading day.

On the same day, EOPLUS announced that its wearable artificial pancreas product under development (EOPatch X) was finally selected for the Pan-Ministerial Full-Cycle Medical Device R&D Project.

The wearable artificial pancreas product is a next-generation wearable insulin pump that can automatically adjust the insulin injection amount according to blood glucose changes.

EOPLUS will receive up to 2.8 billion KRW in government support over 3 years and 6 months out of approximately 3.55 billion KRW in development costs for the wearable artificial pancreas project. The wearable artificial pancreas product under development by EOPLUS will be equipped with the Dexcom G6 continuous glucose monitoring sensor and the TypeZero infusion algorithm on the company's disposable patch pump product, EOPatch.

Jaejin Kim, CEO of EOPLUS, said, "The wearable artificial pancreas is an innovative product that can automatically inject insulin based on the blood glucose of diabetic patients, overcoming the inconvenience and limitations of existing insulin injection therapy, and at the same time presents a new guideline for diabetes treatment."

He added, "Through the world's first commercialization of the next-generation product developed with EOPLUS's unique wearable drug infusion technology, we will elevate the status of K-medical devices."

EOPLUS is a medical device specialist company developing insulin delivery systems for insulin-dependent diabetic patients, including the wearable insulin infusion system (EOPatch) and wearable artificial pancreas. The disposable wearable insulin infusion system (EOPatch) succeeded in commercialization as the world's second after Insulet.

Insulet has monopolized the related market since launching its first product in 2005. It has grown into a company with a market capitalization of 15.5 billion USD (approximately 18 trillion KRW) on the NASDAQ market.

Choi Jongkyung, a researcher at Heungkuk Securities, said at the time of EOPLUS's listing, "EOPLUS's technological innovation can be said to have just begun," and introduced, "Following the commercialization of the wearable insulin infusion system this year, the wearable separated sensor (artificial pancreas) is under development next year, and the wearable integrated artificial pancreas (pump + sensor) in 2022." He added, "The core technology that succeeded in commercializing the world's second related product already has complete competitiveness."

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