[Featured Stock] Intromedic Receives MFDS Approval for World-Class Capsule Endoscopy... Accelerates Expansion into US, China, and Europe

[Asia Economy Reporter Hyungsoo Park] IntroMedic is showing strong performance. The news that it has obtained product approval for medical capsule endoscopy from the Ministry of Food and Drug Safety appears to have influenced its stock price.

As of 12:31 PM on the 10th, IntroMedic is trading at 2,655 KRW, up 13.7% from the previous day.

On this day, an economic media outlet reported that IntroMedic obtained product approval from the Ministry of Food and Drug Safety for two types of medical capsule endoscopes (MC2400-U and MC2400-UE). These endoscopes wirelessly transmit images of the esophagus, stomach, and duodenum to observe bleeding in the upper gastrointestinal tract. They are known as world-class products in terms of position and posture control, transmission speed, and operating time.

In March last year, IntroMedic developed a capsule endoscope based on human body communication technology through joint research with the Electronics and Telecommunications Research Institute (ETRI). It can capture high-speed images at 24 frames per second, allowing observation of the upper gastrointestinal tract, which was difficult to confirm with previous capsule endoscopes. The capsule’s built-in magnet enables control of its posture and position externally.

An IntroMedic official stated, "The global capsule endoscopy market is rapidly growing due to the expansion of diagnostic areas, the prevalence of gastrointestinal diseases, and active government support." He added, "Starting with certification from the Korean Ministry of Food and Drug Safety, we plan to accelerate overseas certifications including the US FDA, Europe, China, and Japan." The European CE certification is currently under review, and results are expected by the end of this year.

IntroMedic, a specialized company in video diagnostic medical devices, manufactures and sells capsule endoscopes, disposable flexible endoscopes, and absorbable hemostatic agents for internal use. This year, it is also engaged in the manufacturing and sales of sterilizers and disinfectants as a new business.

IntroMedic has also established a local subsidiary (IntroMedic Americo Inc.) to enter the US medical device market. It plans to focus on distributing capsule endoscopes and COVID-19 diagnostic kits.