[Featured Stock] Sewon&NC Commercializes 'Skin Regeneration Light Patch' Easy for Anyone to Buy... FDA Approval Application Upward Trend Increasing

[Asia Economy Reporter Hyungsoo Park] Sewon ENC is showing strong performance. The news that the company has registered and completed the approval application for the 'ultra-thin flexible organic light-emitting diode (OLED) phototherapy patch' with the U.S. Food and Drug Administration (FDA) appears to be influencing its stock price. Sewon ENC, together with its affiliate KwangBio, has acquired foundational technology developed by Professor Kyungcheol Choi of the Department of Electrical Engineering at the Korea Advanced Institute of Science and Technology (KAIST) and is promoting the OLED phototherapy patch business as a future growth engine. Holding exclusive rights for manufacturing and sales, the company plans to complete the production line, including manufacturing and facilities, within this year and aims to commercialize the product as early as the beginning of next year.

As of 11:36 a.m. on the 31st, Sewon ENC is trading at 900 KRW, up 6.01% from the previous day.

On the 31st, Sewon ENC announced that about 130 foreign media outlets, mainly in the U.S. and Europe specializing in bio and healthcare, have reported on the phototherapy patch. The company recently began preparations for commercializing products for pain treatment and skin regeneration. It has already completed patent registrations in the U.S. (1 case) and Korea (2 cases). Sewon ENC has also secured a site of approximately 49,530 square meters (about 15,000 pyeong) in the Hongseong area. With the FDA approval application completed, the commercialization push is expected to gain further momentum.

Lee Seokho, CEO of KwangBio, stated, "We plan to launch the flexible OLED patch as a general product in the second half of next year."

KwangBio plans to produce the phototherapy patch products at Romical, a display company. Having received investment from Sewon ENC, KwangBio is preparing flexible OLED manufacturing facilities by adding processes to Romical’s existing cleanroom-based OLED dedicated line. The production capacity (CAPA) is at a scale capable of producing 10 million ultra-thin flexible OLEDs (370x470) annually.

KwangBio is a medical and beauty device specialist company utilizing ultra-thin flexible OLED technology. It acquired the ‘flexible OLED’ technology developed by Professor Kyungcheol Choi of KAIST’s Department of Electrical Engineering and created phototherapy patch products based on this technology. KAIST holds a 10% stake in KwangBio through an in-kind contribution of the patented technology.

The phototherapy patch developed by KwangBio combines ultra-thin OLEDs that bend with bandages or foam used for wound treatment. Composed of thin OLEDs, the patch is less than 1 mm thick and weighs less than 1 gram. Despite this, it can operate continuously for over 300 hours and functions even when bent within a radius of 20 mm, allowing it to be attached to various parts of the body. Additionally, it operates only below 42°C, eliminating the risk of low-temperature burns.

According to Medical Insight, the market size for ‘energy-based cosmetic surgery devices and consumables’ is expected to grow from $1.7 billion (2.29 trillion KRW) in 2018 to $2.3 billion (3.1 trillion KRW) in 2023. Among these, skin regeneration treatment is anticipated to account for more than 50%, surpassing other treatments combined.

CEO Lee said, "The flexible OLED phototherapy patch can be directly applied to wound areas, reducing side effects and enhancing user accessibility and mobility. The treatment efficacy has also been verified through SCI-level papers jointly researched with KAIST and Seoul National University Bundang Hospital."

He added, "Initially, we plan to register and launch the flexible OLED patch as a beauty and personal care product. Subsequently, to enter the medical device sector, we have completed registration and approval application with the U.S. FDA, and from 2024, the product will be available for use in pharmacies and hospitals."

Furthermore, KwangBio plans to collaborate with various companies that can apply flexible OLED technology. If a company can incorporate flexible OLED into its products, KwangBio will supply the flexible OLED accordingly.

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