[Asia Economy Reporter Jang Hyowon] Somagen, a US bio company and the first foreign company to be listed through a technology special listing (CEO Hong Soo), announced on the 14th that it has launched the home test 'Kean V Series' on the 13th, which can analyze the vaginal microbiome of women to check the balance of the vaginal microbial ecosystem, sexually transmitted disease-related microbes, and human papillomavirus (HPV). At the same time, through a partnership with DNAvisit, a US genetic counseling specialist company, it has officially entered the North American telemedicine market.
The Kean V Series released by Somagen this time is divided into two tests: Kean V and Kean V+. Kean V analyzes the distribution of microbes in women's vaginal microbiome samples that may affect sexually transmitted disease recurrence, pH imbalance, chronic diseases, and menopausal symptoms. Kean V+ is a test that, in addition to the Kean V test items, can confirm the presence of women's sexually transmitted diseases and human papillomavirus (HPV) infection.
In particular, Kean V+ is notable as a telemedicine test that allows users to easily perform the test procedure at home, significantly reducing the hassle of multiple hospital visits and the resulting medical expenses. In the US, when undergoing sexually transmitted disease and HPV tests, patients usually have to visit the hospital multiple times for consultations with primary care physicians and specialists, paying high medical fees each time, with additional costs for PCR tests.
In contrast, Somagen's Kean V+ test allows women to easily collect samples themselves at home without hospital visits, send them to Somagen's lab for analysis, and receive results after verification and signature by a medical doctor.
Patients who test positive can have free consultations with DNAvisit's tele-doctors, and the total cost of Somagen's Kean V+ test, including this free consultation, is only $200 (approximately 260,000 KRW).
A company representative stated, "The Kean V Series released by Somagen this time is an improved test applying Somagen's clinical diagnostic platform technology to the SmartJane service, which was a women's sexually transmitted disease and HPV microbiome analysis service operated by uBiome, the former number one microbiome analysis company in the US. Since uBiome generated about 30 billion KRW in annual sales with this product in 2018, the demand and growth potential are confirmed. Currently, the North American women's sexually transmitted disease and HPV microbiome analysis market is a blue ocean market with no uBiome or similar competitors."
The North American sexually transmitted disease diagnostic market size was estimated at $39.8 billion (about 51.7 trillion KRW) in 2020, with an expected average annual growth rate of 7.7% from 2022 to 2032.
Additionally, as the COVID-19 pandemic struck the world in 2020, many countries shifted from traditional face-to-face medical care to telemedicine. The US telemedicine market size is expected to expand significantly from $17.53 billion (about 20.8 trillion KRW) in 2019 to $122.3 billion (about 145.3 trillion KRW) by 2025.
Somagen CEO Hong Soo said, "The Kean V Series we launched this time is a clinical microbiome analysis test for telemedicine that can confirm women's sexually transmitted disease and HPV infection status. Unlike typical DTC products, we believe it has a good chance of success in the North American sexually transmitted disease and HPV testing market. This vaginal microbiome test will be clinically validated and upgraded to a product that can be billed through insurance companies in the future. Currently, we are also preparing an 'IVF Prognosis Prediction Service' as a follow-up product to the Kean V Series, which can estimate the success rate and optimal timing of in vitro fertilization for infertility patients," he added.
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