Medipixel (CEO Song Gyo-seok), a medical artificial intelligence (AI) company, announced on the twentieth that it will accompany President Yoon Seok-yeol’s state visit economic mission to the US.

The US Economic Mission chosen firms that submitted applications through the FKI’s recruitment announcement. The applicant’s expected business performance, trade and investment performance with the US, and the potential for cooperation in major industries were comprehensively considered.

The delegation consisted of a complete of 122 delegations, including 19 large enterprises, 85 small and medium-sized enterprises, 14 economic organizations, associations and organizations, and 4 public enterprises.

Amongst them, bio/healthcare firms akin to Medipixel, Celltrion, Boryeong, and HK Innoen accounted for 21 firms (17%), the biggest share ever. The corporate said, “I feel it reflects the expectation that the biohealth industry will create future high value in the longer term of Korea.”

Medipixel is an organization that recently obtained approval from the US Food and Drug Administration (FDA) and obtained a US patent for ‘Medipixel XA’, a heart problems diagnostic aid solution.

Particularly, it is understood that it signed an investment and partnership contract with Philips, a world video equipment company, when it attracted a series A investment of 10 billion won in 2021. It’s explained that it’s unusual for a start-up company to secure an overseas market through partnerships before selling products.

As well as, it recently established a US corporation in Boston, a world-class bio and healthcare cluster, and is specializing in localization through two tracks: collaboration with global firms and entry into the insurance market.

CEO Song Gyo-seok said, “I feel that the corporate was chosen for this economic delegation considering that the flagship product succeeded in obtaining a patent within the US following FDA approval, and has a high possibility of entering the US market.” We plan to determine a bridgehead for entering the US market by taking this chance as a springboard.”

Reporter Juyoung Lee juyoung09@aitimes.com