[Featured Stock] MITECH Achieves 'World's First' Breakthrough in Gastrointestinal Stent Challenges with Long-Term Drug Release In Vivo

The stock price of MI Tech, a manufacturer of non-vascular stents, is on the rise. It appears that the news of the Korea Textile Development Institute developing the world's first multilayer drug-eluting biodegradable medical fiber for gastrointestinal stents through joint research using proprietary technology is influencing the stock price. MI Tech designed and developed stent designs optimized for the developed material to maintain expansion force within the body and evaluated the drug release behavior of the developed stents.

As of 9:46 AM, MI Tech was trading at 7,930 KRW, up 790 KRW (11.06%) from the previous trading day.

MI Tech's joint research with Bundang CHA Hospital, Korea Textile Development Institute, and Korea Institute of Science and Technology was recently published in the April issue of the global biomaterials journal Acta Biomaterialia. This core technology perfectly controls the drawbacks, side effects, and biodegradation period of existing gastrointestinal stent procedures, enabling long-term sustained drug release that previous products could not achieve.

The Korea Institute of Science and Technology developed drug release control technology through micro-detection of drugs within stent biodegradable filaments and in vitro pharmacokinetic studies. Bundang CHA Hospital developed a large animal experimental model and conducted efficacy evaluations for the application of biodegradable stents in the bile duct.

Kim Gyuseok, senior researcher of MI Tech's research team, stated, "This can solve the problems of reduced patency and complications occurring after stent procedures," adding, "Since the drug release period can be controlled, expansion into various stent product lines is expected in the future." He continued, "We will strive to conduct clinical research to commercialize the world's first multilayer drug-eluting biodegradable stent."

MI Tech CEO Kwak Jae-o said, "Based on these research results, when the world's first multilayer drug-eluting biodegradable stent product is launched, it will meet the needs of patients and doctors," and added, "We will contribute to developing world-class products that improve patients' quality of life through R&D collaboration not only with domestic and international doctors but also with external research institutions."

With the development of biodegradable period control and multilayer drug loading technology, which were considered challenges for gastrointestinal stents, the stent's in-body expansion maintenance is maximized while continuously releasing drugs over a long period to exert sustained efficacy. Plastic material stents have a small inner diameter and clog quickly, while metal wire stents can be used for a long time but require removal through additional procedures. Attempts to develop biodegradable stents have been made for a long time to overcome these issues, but commercialization was limited due to insufficient performance to prevent gastrointestinal strictures or rapid deformation of stent shapes, resulting in poor durability.