EDGC, a precision medicine company specializing in genome analysis, is gaining momentum. As interest in medical artificial intelligence (AI) companies grows in the domestic stock market, EDGC's AI technology is being re-evaluated. Medical AI company Lunit has surged over 480% this year, surpassing a market capitalization of 2 trillion won. Expectations for the growth potential of the medical AI industry are increasing.
As of 1:29 PM on the 26th, EDGC is trading at 1,782 won, up 13.66% from the previous trading day.
Marking its 10th anniversary this year, EDGC has set a plan to become a global AI-based genome company. On the 18th of last month, EDGC held a 10th-anniversary ceremony at its new headquarters in Songdo, Incheon. EDGC presented a vision to grow into a global AI-based genome company by utilizing multi-omics diagnostic technology accumulated over 10 years and personal genome and health data. Based on more than 500,000 clinical tests and research big data accumulated so far, the company plans to develop biomarkers and AI algorithms and actively apply them to various diagnostics and new drug development.
EDGC is developing the world's first gene information-based artificial intelligence distributed genome social network service (DGSNS). Yuzenti is a blockchain application platform (Web3.0)-based social network service applying GenieCode, a distributed identity verification (GDID) developed by EDGC. Using distributed identity verification that digitizes unique personal genetic information into a digital ID through blockchain technology, it enables the creation of unique profiles and the use of various applications. Additionally, strong security technology can dramatically enhance user service safety and personal information protection.
Earlier, EDGC was also selected as a final candidate in 2021 for the "Wellcare Industry-Specialized Artificial Intelligence (AI) Technology Support Platform Construction Project" announced by the Ministry of Trade, Industry and Energy (MOTIE). Through this national research project, EDGC will build a health management solution platform for disease prevention by collecting, analyzing, and utilizing personal integrated data such as genome and microbiome and wellcare data based on genome R&D technology and AI big data analysis capabilities. The Wellcare Industry-Specialized AI Technology Support Platform Construction Project aims to build a platform that supports the collection of specialized data such as genes and AI model development for AI convergence service development. The goal is to discover intelligent wellcare products and service business models using the platform and create growth engines for regional industrial development.
Starting from the 30th, EDGC will launch the Smart Wellness Tracker "Uriwell," a home health management monitoring system. It will be offered through online markets and will later target the B2B market. The Smart Wellness Tracker Uriwell is a service that allows easy testing at home using a personal urine kit and health management through a smartphone app. The Uriwell urine kit has also completed certification as an in vitro diagnostic medical device from the Korea Food and Drug Administration.
The Uriwell kit enables regular health management based on test information stored in the dedicated app.
Lee Min-seop, CEO of EDGC, said at the 10th-anniversary ceremony, "Over the past 10 years, EDGC has focused on next-generation diagnostics and service development based on genomics and has grown into a global bio-genome healthcare company providing genome services in more than 30 countries beyond Korea." He added, "By utilizing accumulated multi-omics diagnostic technology and personal genome health data, we will develop into an AI genome company specialized in next-generation personalized diagnostics and precision drug development."
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