15 June 2021 | Tuesday | News
KT Corporation and NeuroSigma, Inc. jointly announced signing of a memorandum of understanding, forming a strategic partnership to develop and commercialize, inside and outside of Korea, electronic therapies treating neurological and neuropsychological disorders, including ADHD, depression, and epilepsy. NeuroSigma is the developer of the Monarch eTNS System®, which uses non-invasive external trigeminal nerve stimulation (eTNS) to treat neurological and neuropsychiatric indications, and is the first device-based, non-drug therapy approved by the FDA to treat pediatric ADHD. In addition, NeuroSigma plans to conduct additional trials for label expansion of the Monarch eTNS System in ADHD and pivotal trials for depression and epilepsy.
KT and NeuroSigma partner to jointly develop and commercialize neuroelectronic ADHD therapies inside and outside of Korea
- Partnership will expand to include digital therapy services for the treatment of other neuropsychiatric disorders such as depression and epilepsy
Through this partnership with NeuroSigma, KT will support
The partnership also contemplates a potential strategic investment by KT in NeuroSigma.
KT, a leading digital platform company, has created a digital healthcare platform, through which it has a significant, growing presence in the healthcare ecosystem. At the end of last year, KT established a new division, the Digital & Bio-Health Organization, residing within KT's Future Value Promotion Office and under direct control of CEO Koo Hyun-mo, to further advance the digital healthcare platform. Through this platform, KT is forming various partnerships with hospitals, pharmaceutical companies, academic associations, and biotech ventures and will oversee its new partnership with NeuroSigma. In addition, earlier this year, the head of the Future Value Promotion Office, Kim Hyung-wook, became chairman of Korea's Digital Health Industry Association.
Kim Hyung-wook, KT's Head of Future Value Promotion Office, said, "In Korea, digital therapy is still in its infancy, but its utility and growth potential are excellent. Starting with our strategic partnership with NeuroSigma, we will actively foster and promote digital therapeutics, including electronic drugs, as the basis of new and innovative healthcare businesses and to expand the digital therapeutics market in Korea and beyond." Mr. Kim added, "We have been impressed with NeuroSigma's eTNS System, which has already shown itself to be a safe and effective alternative to drug-based therapies. We are eager to work with NeuroSigma to integrate this industry-leading digital therapy into our growing digital healthcare platform and to develop the next generations of digital therapy."
NeuroSigma's CEO Leon Ekchian said, "We are delighted to inaugurate this partnership with KT. KT's expertise and capabilities in electronic and digital healthcare are a perfect complement for the Monarch eTNS System, which represents the convergence of medicine and electrical engineering. We look forward to working with KT to develop the next generations of the product to enhance the design, functionality, and user-experience and to unlock additional value from the technology by leveraging KT's core competencies and digital healthcare platform."