The stock price of LifeSemantics, a digital health specialist company, is on the rise. Recently, as the stock prices of listed companies attempting to apply artificial intelligence (AI) technology to the medical field have surged simultaneously, interest in LifeSemantics' AI technology is also growing. LifeSemantics operates various digital health businesses utilizing medical information technology and AI, centered around the cloud-based medical MyData API platform 'LifeRecord,' the digital therapeutic device 'Redpill Somtun,' the non-face-to-face medical platform 'DoctorCall,' the AI prediction solution 'Hi,' and two medical AI solutions built through the DoctorAnswer 2.0 project. The AI, trained on over 500 million health checkup big data, predicts major diseases that may occur within two years and provides detailed analysis reports and sales manuals. It supports non-face-to-face sales in all healthcare-related industries, including financial products, food, and pharmaceuticals. Last month, LifeSemantics demonstrated its digital medical devices to key officials of the Paraguayan government visiting Korea, showcasing its technological capabilities.
As of 2:22 PM on the 6th, LifeSemantics is trading at 5,860 KRW, up 23.63% from the previous day.
Recently, LifeSemantics has begun clinical trials to evaluate the efficacy of software that assists in skin cancer diagnosis. LifeSemantics received approval from the Ministry of Food and Drug Safety for the confirmatory clinical trial plan of the 'Skin Cancer Image Detection and Diagnosis Assistance Software (SW)' developed through the DoctorAnswer 2.0 national project.
The clinical trial medical device software analyzes images of skin tumors in patients suspected of having skin cancer to differentiate between malignant and benign tumors, assisting medical staff in diagnosis. The trial aims to evaluate the efficacy and safety of the software and verify its superiority. Designated as the first case of a customized rapid classification item in the '100 Major Regulatory Innovation Tasks for Food and Medicine' announced by the Ministry of Food and Drug Safety in November last year, the skin cancer image detection and diagnosis assistance software is a medical AI solution that interprets skin images taken with a smartphone to distinguish whether skin cancer is present. It has built learning data on basal cell carcinoma, squamous cell carcinoma, malignant melanoma, and others, assisting medical staff in early detection and prevention of skin cancer.
By utilizing images taken with a smartphone without expensive equipment, it is expected to lower the entry barriers for primary medical institutions to medical AI technology and improve patient compliance. Through fast and precise data analysis unique to medical AI, it is anticipated to contribute to reducing social costs as well as enhancing the efficiency of the treatment process.
LifeSemantics is also preparing confirmatory clinical trials for the 'Hair Density Analysis Software' and 'Hypertension Complication Prediction Software' currently under development as part of the DoctorAnswer 2.0 research project. The company plans to accelerate its medical AI business in the second half of this year. The AI-based hair density analysis software for establishing male pattern baldness treatment plans estimates the number of hairs on shaved scalp images. It detects the subject's hair follicles and closely analyzes the number of transplantable hairs and hair density.
A LifeSemantics representative said, "Following the approval of the confirmatory clinical trial for the home blood pressure prediction software in May, the approval for the skin cancer image detection and diagnosis assistance software is accelerating the market entry opportunities for medical AI solutions." He added, "We will strive to contribute to the advancement of domestic medical care by gaining recognition for the efficacy and safety of the software through clinical trials and expanding LifeSemantics' medical AI business."
The Ministry of Science and ICT and NIPA (National IT Industry Promotion Agency) successfully completed the 'DoctorAnswer 1.0' project over three years starting in 2018 and have been conducting the 2.0 project with a budget of 38 billion KRW from 2021 to next year. Nearly 400 people are participating in developing 24 solutions that diagnose and treat diseases such as stomach cancer, diabetes, lung cancer, liver cancer, and hypertension.
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