Hanmi Pharm and KT Launch Digital Therapeutics Business... Joint Investment in Catholic University 'Digital Pharm'

Development of DTx for Addiction Improvement of Alcohol and Nicotine
Plan to Start Confirmatory Clinical Trials in the Second Half of the Year

[Asia Economy Reporter Lee Gwan-joo] Hanmi Pharm and KT announced on the 19th that they have made a joint investment in Digital Pharm, a company specializing in digital therapeutics (DTx) and electronic medicine, and will begin full-scale commercialization.

Digital Pharm, a subsidiary of the Catholic University Technology Holdings Company, was founded last October by Professor Kim Dae-jin of Seoul St. Mary's Hospital with the goal of developing DTx for addiction improvement such as alcohol and nicotine and enhancing business competitiveness. With this joint investment from Hanmi Pharm and KT, they plan to promote the commercialization of addiction-related DTx and electronic medicine in the field of attention deficit hyperactivity disorder (ADHD).

In particular, the three companies will divide roles by taking charge of areas where they can secure competitiveness in their respective business fields and maximize synergy. Hanmi Pharm will focus its capabilities in business development, marketing and sales, and regulatory approval accumulated in the traditional pharmaceutical market, centered on the 'Digital Healthcare Business TF' launched last year. Hanmi Pharm will provide concentrated support for Digital Pharm’s B2H business strategy formulation and marketing and sales to activate DTx prescriptions within medical institutions.

KT will establish Digital Pharm’s B2C and B2B business strategies and focus on developing the DTx platform. KT plans to provide Digital Pharm with various technology-intensive pipelines it possesses to promote sustainable growth through technology acquisition. Additionally, Digital Pharm will discover new DTx pipelines in various disease areas and support the clinical research infrastructure essential for commercialization development. After commercialization, it will also strive to secure its own prescription capabilities.

Digital Pharm is currently developing addiction-related DTx such as for alcohol and nicotine and plans to start confirmatory clinical trials in the second half of this year. They are also promoting the establishment of a non-face-to-face platform for various diseases such as hearing loss and dysphagia and the DTx for these conditions. DTx-related businesses currently being developed by KT or secured through overseas company investments are also expected to be rapidly integrated into Digital Pharm.

Woo Jong-su, CEO of Hanmi Pharm, said, “We are pleased to enter the digital healthcare industry, which will become a core growth engine of future healthcare, together with the country’s top medical institutions, university technology holdings companies, and ICT companies.” He added, “We will do our best to build a successful business model by combining Hanmi’s long-accumulated capabilities in new drug development, regulatory approval, business development, and marketing.”