Neurophet partners with Beijing LADO Technology… Intends to establish Joint Venture in China

Neurophet enters into a strategic agreement with LADO to distribute Neurophet SCALE PET

Improves the efficiency of market entry with expertise of medical device go-to-market process in China through the establishment of joint venture

SEOUL,South Korea,Oct. 30,2024 -- Neurophet,an artificial intelligence (AI) solution company for brain disease,has secured a significant foothold to accelerate entry into the Chinese market.

CEO Henry Zeng of Beijing LADO Technology (left) and CEO Jake Junkil Been of Neurophet (right)

Neurophet announced the exclusive sales agreement with Beijing LADO Technology CO.,LTD (LADO),a leading Chinese software medical device manufacturer,for its brain PET image analysis (PET tracer deposition) software'Neurophet SCALE PET' and confirmed the establishment of a joint venture in China.

Neurophet plans to expedite Chinese market entry and obtain essential regulatory approvals through the sales agreement of Neurophet SCALE PET with LADO and the joint venture.

Neurophet SCALE PET quantitatively analyzes biomarkers labeled with radioactive tracers using PET (positron emission tomography) images. It automatically provides the SUVR (standardized uptake value ratio) of PET tracers targeting Alzheimer's disease biomarkers such as amyloid beta proteins,tau proteins,reduced brain neural cell metabolism (FDG),and dopamine.

LADO is a leading Chinese professional medical software manufacturer focused on nuclear medicine. The company has strategic business partnerships with global medical imaging equipment manufacturers such as GE HealthCare,Siemens Healthineers,and Philips,as well as leading IT companies like IBM and Microsoft. The major clients in China include over 500 institutions with PET equipment,and more than 300 large hospitals use LADO's nuclear medicine software systems.

Neurophet aims to streamline regulatory approvals through this sales agreement and the joint venture,with the plan to enter and grow its market share in China through localization strategy.

"Medical device companies face challenges to respond to the rapidly changing China's regulatory system" said CEO Jake Junkil Been of Neurophet. "By partnering with key regional dealerships,we will leverage LADO's network to effectively expand Neurophet's brain image analysis technology in the Chinese market."

About Neurophet

Neurophet has specialized in developing solutions for diagnosis support,treatment guides,and treatment devices targeting brain diseases based on cutting-edge artificial intelligence (AI) technology. The company was founded in 2016 by Jake Junkil Been,CEO,and Donghyeon Kim,CTO,who developed the next-generation neuro-navigation system.

Major products include brain MRI analysis software "Neurophet AQUA",brain PET image analysis (PET tracer deposition) software "Neurophet SCALE PET",brain imaging treatment planning software for electric and magnetic brain stimulation "Neurophet tES/TMS LAB".

Neurophet has set its top priority to helping patients suffering from brain diseases. Based on expertise in neuroscience,Neurophet will continue to challenge and grow to explore the human brain's health and pioneer solutions for brain diseases with AI technology.