Bistos, a specialized company in bio-signal medical devices (CEO Lee Hu-jeong), announced on the 12th that it is accelerating the development of a treatment device for ADHD (Attention Deficit Hyperactivity Disorder).
Bistos has filed a patent related to non-invasive electrical stimulation and is developing an alternative treatment method for ADHD patients who experience side effects from conventional drug therapies. The company is currently conducting joint research with psychiatry professors from major domestic hospitals regarding the ADHD treatment device.
According to the analysis of the 'ADHD Treatment Status' recently released by the National Health Insurance Service, the number of ADHD patients in Korea increased by 92.9%, from 53,056 in 2017 to 102,322 in 2021, emerging as a significant social issue.
In particular, Bistos' ADHD treatment device is expected to be price-competitive compared to NeuroSigma, the first in the U.S. to obtain FDA approval. Considering the active overseas markets for treating ADHD patients under 17 years old, Bistos is anticipated to record high growth as the global second ADHD treatment device to be launched.
Lee Hu-jeong, CEO of Bistos, stated, "Based on the accumulated research on brain electrical stimulation signals through the development of ADHD treatment devices, we plan to expand our product lineup in the long term to brain-related fields such as dementia treatment. With the funds raised through the KOSDAQ listing, we have secured the foundation for expanding production facilities and product development. We aim to leap forward as a global healthcare specialized company in the field of bio-signal diagnostic and therapeutic medical devices that cover the entire human life cycle, beyond Korea."
Bistos is a specialized bio-signal medical device company that was listed on the KOSDAQ market last October through Korea's first SPAC dissolution method. Initially, the company diversified its products from fetal monitoring devices and incubators related to fetuses and newborns to patient monitoring devices developed in 2019. Since its establishment in 2001, Bistos has recorded steady growth every year, achieving sales of 24 billion KRW last year, a 16.8% increase compared to the previous year.
Notably, over 90% of total sales are generated from more than 120 countries overseas. This is the result of focusing on diversifying sales channels by pioneering overseas markets centered on developing countries with high birth rates. Additionally, CEO Lee Hu-jeong led Bistos into its second growth phase by expanding the technological know-how accumulated in fetal monitoring devices to patient monitoring devices at the early stage of the COVID-19 outbreak in 2019.
Recently, government-level efforts to address the low birth rate issue are expected to positively impact Bistos' domestic business environment. Earlier this year, a revision bill to the Medical Service Act was proposed in the National Assembly, mandating the establishment of obstetrics and gynecology departments in general hospitals. The bill requires obstetrics and gynecology departments to be established in general hospitals with 100 to 300 beds and includes government financial support for this. The company anticipates that government policies and proactive investments aimed at solving the low birth rate will lead to increased demand for Bistos' products.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
