Bio startup Neurogreen Co., Ltd. announced on the 30th that it signed a business agreement (MOU) with electronic pharmaceutical source technology company Peach Life Science Co., Ltd. for the development of innovative electronic pharmaceuticals. The purpose of this agreement is to strengthen cooperation in the field of neurostimulation-based therapeutic devices based on the technological expertise of both companies.
Neurogreen is a Seoul Biohub resident company, a bio startup that researches and develops diagnostic and therapeutic technologies for neurological diseases. Its main product under development, 'CEROGRIN', is an electronic drug that non-invasively stimulates the vagus nerve branches around the ears to promote cerebrospinal fluid (CSF) circulation and help improve dementia symptoms by removing waste products in the brain. The device is scheduled to enter clinical trials targeting patients with vascular dementia in the first half of this year.
Neurogreen is also developing CEROWAVE, an electroencephalograph that can assess an individual's neurophysiological state based on brainwave and heart rate variability (HRV) data. The product is aiming to obtain medical device approval in the second half of the year, and plans to launch it to medical institutions thereafter.
Peach Life Science, which signed the agreement, is developing an electronic medicine in the form of a mouthpiece that non-invasively stimulates the nerves in the mouth to improve ADHD symptoms. It is currently preparing for clinical trials through medical institutions, and is securing the stability and functionality of the device by applying 'Electric Field Cancelling' technology that removes residual charges after electronic medicine stimulation and safety circuit technology.
Through this agreement, the two companies plan to combine Neurogreen’s neurostimulation-based disease treatment technology with Peach Life Science’s electronic drug platform and circuit design capabilities to jointly develop innovative treatment devices to improve the symptoms of various diseases.
Neurogreen co-CEOs Ji-hoon Jeong and Seon-kwang Kim stated, “We will be able to create real synergy based on the expertise and technological prowess of both companies,” and “We will establish a foundation for mutual growth through a sustainable cooperation model.”
Jaejun Park, CEO of Peach Life Science, said, “Through this collaboration, we will solidify the technology foundation for entering the global electronic pharmaceutical market.”
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