Seoul based Nu Eyne is a medical device R&D company that is exploring the potential of wearable bioelectronic medicine, or electroceuticals. This is the application of electrical stimulus on the body to induce a biological reaction in order to treat chronic diseases. The products are researched and developed using processes that closely parallel those used for new drug discovery. The initial research leads to the creation of a trial device that can be used in a home setting along with a linked mobile app.
Nu Eyne is one of the six selected start-up participants that CC is supporting as part of our commitment to the programme. Their flagship product is a pair of goggles that promote efficient tissue regeneration and normalise nerve activity to treat dry eye syndrome.
Rising to the challenge of bioelectronic medicine
While much of the medical technology industry is focused on large scale medical devices and systems or at the other end of the spectrum small disposable devices, Nu Eyne is firmly focused on the middle ground of reusable wearable devices.
They are also keen to grow the opportunity and infrastructure for research and development of medical devices within Korea.
What will the benefits be?
The devices are being designed for home use with a connected mobile app that allows remote monitoring of the patient’s status and treatment compliance. Nu Eyne’s aim is to improve patient quality of life through the provision of affordable treatment options.
Their primary focus is to address chronic diseases for which there are limited treatment options, a particularly serious concern in ageing societies.
Working with CC’s mentors Nu Eyne is developing new business models that will allow them to introduce new bioelectronic devices to the market, initially building networks within the APAC countries. Working with mentors and peers in the MedTech Innovator incubator provides an ideal forum to test and validate their approach and business models.
Not only do we have a larger, older population and reduced workforce in healthcare, but the number of ophthalmic specialists per capita has shrunk. Age-related degenerative conditions continue to dominate the workload of the specialty, the ‘myopia generation’ is rapidly approaching middle age and we are starting to see more retinal complications associated with that condition. Diabetes continues to be a global issue.