Neofect Signs Comprehensive R&D Agreement for Pan-Government Full-Cycle Medical Device Development

Digital rehabilitation solution company Neofect (CEO Ban Ho-young) announced on the 22nd that it has signed a research and development agreement with the Pan-Ministry Full-Cycle Medical Device Research and Development Project Group (KMDF).

The research project is titled "Advancement of smart board medical devices for improving and evaluating upper limb function in patients with brain diseases and development of non-face-to-face rehabilitation treatment technology using artificial intelligence." The total project scale is approximately 1.65 billion KRW, including government subsidies, totaling about 1.9 billion KRW.

The research will proceed in the order of data collection, artificial intelligence development, and clinical trials. The company plans to develop and apply artificial intelligence technology that predicts patients' upper limb function using the "Neofect Smart Board" and recommends appropriate training programs. Professor Jang Won-hyuk's rehabilitation medicine team at Samsung Seoul Hospital will conduct clinical trials, and the final product will also pursue medical device approval from the Ministry of Food and Drug Safety.

Ban Ho-young, CEO of Neofect, said, "Through this business agreement, our ultimate goal is to replace the existing upper limb function evaluation program, Fugl-Meyer, with smart board technology and apply new medical technology," adding, "We will contribute to creating new businesses and grow as a leading company in related technologies."

Meanwhile, Neofect operates a medical artificial intelligence business that develops rehabilitation training devices combining smart technologies such as artificial intelligence and IoT with gamified content in the era of the Fourth Industrial Revolution. The company developed the world's first artificial intelligence rehabilitation platform, "Raphael Home," and has been recognized as a core company in rehabilitation medical and IT technology leading the Fourth Industrial Revolution, winning the CES Innovation Award for two consecutive years.