Yeungnam University Transfers Medical Patent Technology to Osmedic... Receives 100 Million KRW Plus 1-4% of Sales for 12 Years

Yeungnam University (President Choi Oechul) has signed a technology transfer agreement with a local company to promote commercialization using its outstanding technology. On the 13th, it announced that it will transfer the ‘implantable expander using a dual-network structured hydrogel’ developed by Professor Kim Seongcheol of the Department of Chemical Engineering to a company and promote technology commercialization.

On the afternoon of the 5th, Yeungnam University held a technology transfer signing ceremony with Osmedic Co., Ltd. at the Industry-Academic Cooperation Foundation remote conference room. Attending the signing ceremony were Kim Jongsu, head of Yeungnam University Industry-Academic Cooperation Foundation, Im Jiseok, director of the Technology Transfer Commercialization Center, Professor Kim Seongcheol of the Department of Chemical Engineering, and Osmedic representatives including CEO Hwang Jaeik and Quality Control Director Hwang Gwangik. Both parties agreed to pool their capabilities for successful technology commercialization.

Director Kim Jong-su of Yeungnam University (third from the left) and CEO Hwang Jae-ik of Osmedic (fourth from the right) are holding up the agreement after the technology transfer signing ceremony.

The patented technology owned by Yeungnam University is a gel-type cervical dilator used in medical instruments for childbirth, developed for female patients suffering in medical settings. Compared to existing European products, it has significantly improved strength and swelling capacity, securing technological competitiveness. Through this technology transfer agreement, Yeungnam University will receive a fixed technology fee of 100 million KRW and a running royalty of 1% to 4% of product sales for 12 years after commercialization.

Osmedic Co., Ltd., which signed the technology transfer agreement with Yeungnam University, expects to secure new business areas in the existing medical device industry through the acquisition of related technology, leading to corporate sales growth and new job creation. Additionally, the company plans to utilize Yeungnam University’s excellent talent for R&D and commercialization personnel for new product development.

Professor Kim Seongcheol, who developed the patented technology, said, “The gel-type cervical dilator is a product with excellent strength and swelling capacity compared to existing materials, and it is expected to have high demand in medical settings.” He added, “We will work with the company on research and development cooperation to commercialize it within two years.”

Kim Jongsu, head of Yeungnam University Industry-Academic Cooperation Foundation (Professor of Physics), stated, “Yeungnam University is achieving results in industry-academic cooperation through its outstanding practical assets and research capabilities,” and added, “We hope that Yeungnam University’s excellent technologies will be commercialized through cooperation with more companies.”

Meanwhile, Yeungnam University was selected for the ‘University Creative Asset Commercialization Support Project (BRIDGE3.0)’ hosted by the Ministry of Education and the National Research Foundation of Korea this year, receiving 630 million KRW annually for two years, totaling 1.26 billion KRW, to promote the commercialization of knowledge assets and outstanding technologies owned by the university. Yeungnam University is accelerating the commercialization of the relevant technology by supporting the Proof of Concept (PoC) development costs under the BRIDGE3.0 project.

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