A novel approach that may lead to the next generation of ophthalmic anesthetics is now on its way to commercialization, thanks to a UNIST-based start-up company, called RecensMedical Inc. Their new technique is expected to revolutionize the treatment of retinal diseases by maximizing outcomes and safety, shortening surgical time and reducing stress on patients.
With the use of this technique of refrigeration anesthesia, the whole anesthesia induction time in current practice will be reduced to 20 seconds only. Moreover, by eliminating the existing anesthesia-induced numbness, it not only provides safe, most effective clinical outcomes, but also high levels of patient satisfaction.
This start-up company, run by Professor Gun-Ho Kim of Mechanical, Aerospace and Nuclear Engineering at UNIST has recenly applied for a patent on its technique of refrigeration anesthesia. In June, RecensMedical has been selected to conduct a research project by TIPS (Accelerator Investment-Driven Tech Incubator Program for Startups), which has awarded the company a prestigious KRW 500 million grant for the next two years. It has also managed to secure additional KRW 400 million funding, which includes KRW 100 million of startup funding, KRW 200 million from Angel Investment Matching Fund, as well as another KRW 100 million of international marketing fund.
“With this advanced technology, patients can expect less invasive and painless treatment,” says Professor Kim. “We hope to enter into the global marketplace after completion of clinical trials in the United States by July.”
TIPS (Accelerator Investment-Driven Tech Incubator Program for Startup) is designed to identify and nurture the most promising startups with innovative ideas and groundbreaking technologies. In order to support them when entering the global marketplace, it appoints and designates successful venture founders who are now angel investors and leaders of technological enterprises, as their incubators/accelerators. It then offers seamless service encompassing angel investor networking, incubating, mentoring/professional support and matching R&D funds.