SK Biopharm-Europ Pharma Establish JV in the US to Accelerate AI-Based Epilepsy Treatment

Announcement at JP Morgan Healthcare Conference
Direct Entry into the U.S. Digital Healthcare Market

SK Biopharm is establishing a joint venture (JV) in the United States with Eurofarma, one of the largest pharmaceutical companies in South America.

Lee Dong-hoon, President of SK Biopharm, announced plans to establish a joint venture with Europharma in the United States at the JP Morgan Healthcare Conference (JPM) held in San Francisco, USA, on the 13th (local time). Provided by SK Biopharm

On the 13th (local time), SK Biopharm announced this plan at the JP Morgan Healthcare Conference held in San Francisco, USA. This is a strategic move to officially launch the commercialization of an AI-based epilepsy management platform in the North American market.

Since 2022, SK Biopharm and Eurofarma have collaborated to launch SK Biopharm's innovative epilepsy drug, Cenobamate, in the Latin American region. This JV is based on SK Biopharm’s EEG analysis AI technology and EEG measurement wearable device technology, which have been independently developed since 2018. Through this, they plan to accelerate the commercialization and development of the "AI-based epilepsy management solution." This solution monitors epilepsy seizures in real time, supports medical professionals in establishing optimal treatment plans based on data, and facilitates communication between patients and healthcare providers.

The global digital health market is expected to grow at an average annual rate of 25%, with investments particularly focused on AI-driven diagnosis, prevention, and management areas. The main business of this JV, the "Tele Epilepsy treatment market," is projected to grow to $1.8 billion by 2032, with the North American market accounting for about 47% of the global market, making it the largest single market.

The JV’s headquarters will be established in the United States to target the North American market, and SK Biopharm is recruiting local executives and formulating localization strategies. Additionally, they aim for rapid market entry and system establishment by actively utilizing the medical professional network and partnerships built through the direct sales of Cenobamate in the U.S. The JV has secured development and operational funds for at least three years and plans to execute long-term growth strategies based on this.

Eurofarma, a major pharmaceutical company in the Latin American region, has extensive experience investing directly and indirectly in various digital healthcare businesses over many years. In this JV, Eurofarma will contribute to business strategy formulation and AI training data acquisition, supporting the JV to successfully establish itself in the North American market.

Lee Dong-hoon, CEO of SK Biopharm, stated, "The collaboration with Eurofarma will open a new chapter in SK Biopharm’s global business expansion," adding, "Through this JV, we will successfully introduce the AI-based epilepsy management solution in the North American market and turn it into a new growth engine."