Hillserion Selected as Final Winner in 'Outstanding Enterprise Research Lab Development Project' with Harvard Affiliated Hospital

[Asia Economy Reporter Jang Hyowon] Hillserion, a smart healthcare specialized company (CEO Ryu Jungwon), announced on the 27th that it has been finally selected as the lead operator in the overseas industry-academia-research open cooperation track of the ‘2020 Excellent Company Research Center (ATC+) Project’ hosted by the Ministry of Trade, Industry and Energy.

This project involves a consortium joint research and development operator consisting of MGH CSB (Massachusetts General Hospital Center for Systems Biology) of Harvard Medical School in the United States and the Cardiovascular Research Center of Gachon University Gil Medical Center.

The Ministry of Trade, Industry and Energy’s Excellent Company Research Center Development (Advanced Technology Center Plus) project is an exclusive program for research institutes affiliated with small and medium-sized enterprises, aimed at fostering them as key agents of corporate growth and industrial innovation by enhancing their research and development (R&D) capabilities.

Hillserion applied for the overseas industry-academia-research open cooperation track, in which the MGH research team of Harvard Medical School participates, among the 25 strategic investment areas of the Ministry’s R&D, with the theme of ‘Development of Ultrasound Diagnostic Devices and Platforms Using Artificial Intelligence,’ and was finally selected.

During the approximately four-year project period, Hillserion plans to develop a portable wireless ultrasound diagnostic device and platform that innovatively improve the performance and ease of use of existing products, supported by about 2 billion KRW in funding. Additionally, the research teams from Harvard Medical School and Gachon University Gil Medical Center will jointly develop artificial intelligence interventional procedure technology using images obtained from ultrasound devices developed by Hillserion.

Furthermore, to validate the outcomes of this joint research, MGH of Harvard Medical School and Gachon University Gil Medical Center have agreed to participate together in artificial intelligence development for ultrasound image learning data collection and clinical case studies. Once the technology is completed, it will open the way for non-expert users to secure high-quality ultrasound images anytime and anywhere by using images obtained from Hillserion’s portable ultrasound combined with clinical cases from high-end ultrasound devices and artificial intelligence.

MGH is the largest and oldest affiliated hospital of Harvard Medical School and is one of the top medical institutions representing the United States alongside Mayo Clinic and Johns Hopkins Hospital. MGH ranks first worldwide in research funding, with an annual research budget reaching 1 trillion KRW.

Ryu Jungwon, CEO of Hillserion, said, “With the final selection in this Ministry of Trade, Industry and Energy project, we can develop artificial intelligence technology and medical information platforms using ultrasound images together with the world’s top medical research institutions, which will elevate Hillserion’s capabilities to the highest international level and enable us to leap forward as a leading medical artificial intelligence technology company.”

Meanwhile, Hillserion plans to submit a preliminary review application for listing in the first half of this year, with Daishin Securities acting as the lead underwriter.