[Asia Economy Reporter Hyunseok Yoo] Biopharmaceutical company BIXINK THERAPEUTICS (hereinafter ‘BIXINK’) announced on the 6th that it has invested $1 million in Limbix Health, Inc., a U.S.-based digital therapeutics development company.
Limbix is a U.S.-based company specializing in the development of digital therapeutics, developing various digital therapeutics for mental disorders including pediatric and adolescent depression treatments. Recently, it successfully completed a $9 million Series A funding round from prominent investors including the U.S. GSR Venture. Based on this, it is reported that they plan to start a pivotal study for FDA approval of the pediatric and adolescent depression treatment currently under development.
The digital therapeutics field is a blue ocean where numerous companies are preparing clinical trials for various indications since Pear Therapeutics received the first FDA approval in the U.S. in 2017 for an addiction treatment application. It is a key item spotlighted in the era of telemedicine, and last year alone, global investments in the related digital healthcare sector reached as much as 10 trillion KRW, indicating active investment.
Kim Seongcheol, CEO of BIXINK, said, “Currently, BIXINK is focusing on anticancer drug development and plans to concentrate its capabilities on the evolving digital therapeutics field as well,” adding, “With this investment as a stepping stone, we plan to establish a cooperative relationship with Limbix to develop various digital therapeutics and explore entry into the U.S. market.”
Meanwhile, BIXINK is currently developing digital therapeutics for obsessive-compulsive disorder and attention deficit hyperactivity disorder (ADHD) treatments. It is reported that they are preparing clinical trials in the U.S. with the goal of entering the global market in the future.
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