Technology Recognized by World-Leading Medical Institution Signals Entry into the Global Market
Medical AI company Oncosoft announced on the 18th that it has signed a solution supply agreement with the world-renowned medical institution Mayo Clinic Florida, marking its first sales in the U.S. market.
After obtaining regulatory approval in Korea in 2022 for its AI-based auto-contouring software ‘OncoStudio,’ Oncosoft’s solution has been actively used in over 20 hospitals in Korea, including Samsung Medical Center and Severance Hospital. Furthermore, the company recently obtained U.S. FDA 510(k) clearance, accelerating its entry into overseas markets.
Through this agreement, Mayo Clinic will introduce a total of 10 licenses, including 'OncoStudio' and the radiation therapy workflow management platform 'OncoFlow'. Based on this, Mayo Clinic plans to optimize its own data-driven AI models and establish a customized radiation therapy environment for the institution.
Mayo Clinic is a world-class medical institution with a 160-year history and has been named the number one hospital for seven consecutive years by U.S. News & World Report. Mayo Clinic is significantly reducing the time for tumor analysis and treatment planning in radiation therapy by utilizing AI and medical data, and is also building a precision medicine system using data from 32.5 million patients. Additionally, it is pursuing the establishment of the first proton and heavy-ion therapy center in the U.S. and is discussing further research collaboration with Oncosoft in this area.
Professor Ju-Young Son of the Department of Radiation Oncology at the University of Chicago, who is also the head of Oncosoft's U.S. branch, said, "The fact that Mayo Clinic, the top medical institution in the U.S., has chosen Oncosoft's solution is a significant case of our technology being recognized globally." He added, "The recently released OncoStudio 2.0 has greatly improved speed and accuracy and is receiving high interest in the U.S. market." He emphasized, "We will work closely with Mayo Clinic to actively reflect the needs of the clinical field and lead the way in personalized radiation therapy."
Oncosoft CEO Kim Jinsung stated, "Building on this contract, we plan to make 2025 the first year of our full-scale global market expansion." He added, "We will actively pursue global market expansion by obtaining regulatory approvals and achieving meaningful results in the Middle East, Singapore, and Japan, where demo testing and verification are currently underway. We will continue to focus on providing the best medical technology to medical professionals and patients worldwide through our innovative AI-based radiation therapy solutions."
