South Korean electroceutical platform company Ybrain Inc. said on Tuesday it has entered into a joint promotion agreement with Chong Kun Dang Pharmaceutical Corp. for the distribution of its bioelectronic medicine device Mindd Stim.
The device is used to treat symptoms of depression through electrical stimulation.
Under the terms of the agreement, Chong Kun Dang will have exclusive supply rights and sell the product to domestic psychiatrists, while Ybrain will handle product installation and customer inquiries.
"Our goal for 2023 is to become a globally competitive leader in digital medicine and customized medicines," said Kim Young-joo, CEO of Chong Kun Dang.
"With this agreement in place, we aim to diagnose depression earlier and create a more favorable treatment environment in Korea," said Lee Ki-won, CEO of Ybrain.
Write to Yoorim Kim at
youforest@hankyung.com
