South Korean health tech company Neurophet has obtained certification from Singapore’s Health Sciences Authority for its AI-enabled degenerative brain disease diagnosis assistant software.
Its flagship software, Neurophet Aqua, analyses brain MRI using AI to check for brain atrophy and white matter degeneration as seen in neurodegenerative diseases such as Alzheimer’s disease and vascular dementia. The company claims that its product can segment and analyse brain images within five minutes with an analysis failure rate of 0%.
WHY IT MATTERS
Neurophet seeks to enter the highly-valuable Singaporean medical industry, which is forecasted to grow to about $49 billion by 2029. The company first entered the market with the Neurophet Scale PET, which quantitatively analyses biomarkers of Alzheimer’s disease by combining brain PET and MRI images. It also received the HSA approval for this late last year.
THE LARGER TREND
The company is working double time to further penetrate the greater Southeast Asian market by collaborating with the Dementia Research Center under Nanyang Technological University’s Lee Kong Chian School of Medicine in Singapore to conduct multidisciplinary brain disease research that will validate its AI software offerings.
In December, the company partnered with medical device distributor Clairvo Technologies to expand access to Neurophet Aqua in the Japanese market.