LifeSemantics Participates in the '2022 Digital Healthcare US Overseas Roadshow'

Digital Therapeutic Device ‘Redpill Sumtun’ Accelerates Overseas Expansion

[Asia Economy Reporter Kim Young-won] LifeSemantics announced on the 23rd that it will actively pursue overseas expansion of its digital therapeutic device 'Redpill Sumtun' by participating in a digital healthcare event in the United States.

Redpill Sumtun is a prescription digital therapeutic device that helps patients with respiratory diseases such as lung cancer and chronic obstructive pulmonary disease (COPD) perform rehabilitation independently at home. LifeSemantics received approval for a confirmatory clinical trial plan from the Ministry of Food and Drug Safety in September last year and is currently conducting clinical trials at advanced hospitals including Seoul Boramae Hospital. After completing the clinical trial within this year, the company is focusing on technological advancement with the goal of commercialization next year.

It is estimated that about 17 million people in the United States currently suffer from chronic obstructive pulmonary disease, so LifeSemantics is broadly planning to diversify business channels for Redpill Sumtun through overseas expansion including the U.S. In the U.S., digital therapeutic devices were first officially approved worldwide in 2017, and currently about 20 types of products have received official approval and are being used in medical settings.

As part of preparing for Redpill Sumtun's global market entry, LifeSemantics will participate in the '2022 Digital Healthcare U.S. Overseas Roadshow' held in Boston from the 27th to the 29th. This roadshow will include 25 buyer companies such as venture capital firms from Massachusetts and New York, healthcare organizations, digital health distribution companies, insurance companies, and pharmaceutical companies. A total of 10 domestic companies, including LifeSemantics, are expected to participate. Notably, this year the event is linked with Boston's 'DTx East 2022,' and participation in a digital therapeutics U.S. entry strategy forum and networking support with key local stakeholders are also planned.

Through this event, LifeSemantics plans to introduce the competitiveness and technological capabilities of Redpill Sumtun and understand local trends in the U.S. digital therapeutics market. The company will also continue various follow-up tasks such as establishing a local corporation to obtain approval from the U.S. Food and Drug Administration (FDA) and finding global clinical trial partners.

Kwon Hee, Director of DH/DTx at LifeSemantics, said, "We decided to participate in this overseas roadshow as we see it as a great opportunity to lay the foundation for Redpill Sumtun's entry into overseas markets." He added, "As the demand for respiratory rehabilitation digital therapeutic devices is increasing in the U.S. and Europe, we will rapidly expand our activities overseas and concentrate the company's full capabilities to grow LifeSemantics into a global digital healthcare company."

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