• National Project converging semiconductor and biotechnology

SEOUL, South Korea, June 9, 2023 /PRNewswire/ -- DxVx announced today that it won the national project, 'Korea-led K-Sensor Technology Development for Market Leadership' supported by the Ministry of Trade, Industry and Energy and managed by the Korea Evaluation Institute of Industrial Technology.

The main task is 'Development of optical sensor system for early diagnosis of adult diseases based on biomarkers in urine', which is to discover biomarkers (biochemical substances such as volatile organic compounds and glucose) in urine for full-time monitoring and early diagnosis of various adult diseases such as diabetes and prostate cancer. It also aims to develop an in vitro POCT (point-of-care device) capable of measuring various biomarkers by applying MEMS (microelectromechanical system) technology, optical technology, semiconductor technology for signal processing, and artificial intelligence analysis technology.

In this project, which will be carried out over three years with a total budget of about $3.6 million($2.8 million in government support), Dx&Vx will lead the development as a lead company. It will be developed in collaboration with the Korea Electronics Technology Institute (KETI), the Department of Urology at Hanyang University College of Medicine, and the Department of Electrical and Electronics Engineering at Korea University. COREE Group will be responsible for final commercializing.

With winning of this project, Dx&Vx expects to further accelerate its total biohealthcare solution business. In particular, after product development, Dx&Vx plans to launch the product in China through its Chinese subsidiary company and global sales through COREE Group's overseas network, which is expected to increase its sales and grow the in vitro diagnostic business.

"Starting with the diagnostic development business that combines biotechnology and semiconductors, we will expand the development of additional modules using AI and IoT technologies, data analysis algorithms, and technologies for early diagnosis," said an official from Dx&Vx. "We will solve the unmet need for early diagnosis of various adult diseases and bio healthcare problems due to the global aging trend, and provide total healthcare solutions using micro-system semiconductors for diagnosis and therapeutic management."

The products to be developed in the future are expected to be utilized for various adult diseases such as diabetes, hypertension, prostate cancer, and bladder cancer, and will be presented in the form of a non-invasive 'POCT equipment and cartridges, a sensor system for early diagnosis of adult diseases'.

Source: Dx&Vx Related Stocks: Korea:180400 Korea:180400.KQ