Oncosoft, Japan's M3 to Collaborate on Medical AIBusiness, Expanding into the Japanese Market

[Money Today] Lee Du-ri |
(Fromleft) Kenichi Sugihara, CEO of M3 AI, Jin-sung Kim, CEO of
Oncosoft, and YukoAshikawa, Director of M3 AI/Photo courtesy of Oncosoft

Oncosoft (CEO Jinsung Kim), a medicalartificial intelligence (AI) company, is expanding into the Japanese market.Oncosoft recently announced on the 8th that it has signed a strategiccooperation agreement with M3 AI, a local marketing company with the largestsales network in Japan.

"By combining Oncosoft's technologyand M3 AI's local network, we will explore new possibilities in the Japanesehealthcare market and secure global competitiveness," said a companyofficial.

OncoSoft's flagship product is OncoStudio.It is an AI software that automatically segments medical images essential forradiation therapy. It uses AI technology to automatically segment normal organsin MRI (magnetic resonance imaging) and CT (computed tomography) images forradiation therapy planning, enabling precise treatment. In February 2022, itreceived a Class 2 medical device license from the Korean Ministry of Food andDrug Safety and is being used by major medical institutions.

M3 AI is a joint venture between M3,Japan's largest medical information platform company, and PSP, a cloud PACS(picture archiving and communication system) company. M3 AI has a strong salesnetwork and marketing expertise in Japan. The collaboration with ONCOSOFT willaccelerate OncoStudio's adoption and marketing activities in local healthcareorganizations.

"We will strengthen our presence inthe Japanese healthcare market by supporting precision radiation therapy withour innovative solutions," said Dr. Jinsung Kim, CEO of ONCOSOFT."This partnership will enable AI medical devices to be covered by healthinsurance in Japan, and we look forward to laying the foundation for our localbusiness expansion."

Currently, Oncosoft is in the process ofobtaining PMDA (Pharmaceuticals and Medical Devices Agency of Japan)certification to enter the Japanese market. "This certification isrequired for the sale and use of medical devices in Japan," said a companyrepresentative. "If these efforts bear fruit, we will be able to expandour influence beyond Korea to the Asian market in the future."