Details

Last Funding Type

Series B

Last Funding Money Raised

₩2B

Industries

Health Care,Manufacturing,Medical Device

Founded date

Jan 11, 2016

Number Of Employee

11 - 50

Operating Status

Active

Lab & People is a HealthTech company that is improving the drug delivery system. We have developed a microneedle patch using bioabsorbable metals. Our microneedle patch uses thin, soft needles that penetrate directly into the skin layer containing gout cells, thus minimizing pain. It also increases transmission efficiency by using metals such as magnesium, zinc, and calcium, which are highly absorbable by the body.

We have four products:

1. Flexible bioabsorbable metal
Our flexible bioabsorbable metal technology secures biocompatibility according to ISO 10993. 19 kinds of materials were developed to provide mechanical properties. Decomposition characteristics can be controlled. Our wire rods are of similar technology to that produced by industry leader Fort Wayne Metals in the United States, and we are the only company producing this kind of metal plate worldwide. Innovative materials and products can be supplied to the implant and drug delivery market at an unrivaled level.

2. Bioabsorbable metal implant
Micro-invasive aesthetic medical devices can lift faces, breasts, thighs, etc. within 15 minutes. We are expected to start clinical trials with this technology in 2021, with approval by 2022. After initial approval, material-related safety data can be used in the same way, thus securing a product portfolio and accelerating the approval period and commerical competitiveness over time.

3. Bioabsorbable metal microneedle
We are the first in the world to commercialize microneedles with flexible bioabsorbable metal using only essential elements in the human body. In Korea, sales are expanding through our own distribution network (on/offline in Olive Young in 2020), and exports are expanding to Japan, Singapore, Hong Kong, and Russia. Our Microneedle Patch is a platform technology that enables the development of derivative products for each disease. NDAs (Confidentiality agreement) with global companies and pharmaceutical companies have been signed and discussions for cooperation are being initiated.

4. Minimal invasive medical device
Minimally-invasive medical devices for treatment of spinal stenosis can remove lesions that cause spinal stenosis within 30 minutes without surgery. This technology is currently in the approval stage with the KFDA and is preparing for mass production. We are expected to generate sales from 2021.