[Asia Economy Reporter Hyungsoo Park] Nivek has been selected for a national project focused on funding overseas clinical trials in the bio-materials field. It is expected that sales will increase as the company begins full-scale local clinical trials essential for entering overseas markets.
On the 24th, Nivek announced that it was finally selected for the "Innovative Medical Device Company Technology Commercialization Support," which provides national funding for "overseas clinical trials of bio-materials." The selection was led by the Ministry of Health and Welfare, and Nivek will receive government support amounting to 1.65 billion KRW over three years for overseas clinical trial expenses.
Nivek plans to secure post-market clinical data focusing on its flagship high value-added bio-material products such as "OCS-B" and "Regenomer." Post-market clinical trials for these products will be conducted at Seoul National University Dental Hospital and Frankfurt University Hospital in Germany.
Based on government support, Nivek intends to actively pursue overseas clinical trials to secure stable clinical data and respond aggressively to overseas market expansion.
A Nivek representative said, "Nivek produces various highly effective products based on excellent technology in the field of bone graft biomaterials," adding, "Since exports account for more than 93% of total sales, this selection will help facilitate smooth entry into new overseas markets and promote aggressive local marketing."
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