Medical AI (artificial intelligence) startup Oncosoft(CEO Jinsung Kim) announced on Tuesday that it has been selected for a seriesof government projects, including the 'Healthcare MyData Utilization TechnologyResearch, Development and Demonstration Project' hosted by the Ministry ofHealth and Welfare and 'Scale-up Tips' hosted by the Ministry of SMEs andStartups, and will receive a total of 2.5 billion Won for 36 months.
"We secured a Series A investment of 3.5 billion wonin 2022," said a company official. "Since then, we have been focusingon research and development to solve unmet needs by utilizing artificialintelligence and software in actual clinical sites." "This honor is asmall step in that endeavor."
Through this project, ONCOSOFT will advance itstechnology for time-series three-dimensional visualization of the location andsize changes of cancer patients' tumors. This enables clinicians to see allmedical information at a glance, from the initial cancer diagnosis to theevolution of the tumor's condition throughout the treatment process.
In addition, the technology will be linked to theMinistry of Health and Welfare's health information highway project (MyHealthway) to provide medical information directly to cancer patientsthemselves.
"We are pleased to be officially recognized for ourtechnology through this government project selection," said Jinsung Kim,CEO of ONCOSOFT. "We will continue to develop various software based on AItechnology to provide accurate and safe cancer diagnosis and treatmenttechnology."
ONCOSOFT is an IT company with original technology in thefield of AI radiation cancer treatment. It has developed OncoStudio, an A.I.automatic compartmentalization software for organs required for radiationtherapy. OncoStudio was approved as a Class 2 medical device by the Ministry ofFood and Drug Safety in February 2022 and has been sold to 12 general hospitals(advanced) in Korea.
