In the 'Company Visit' section, we explore leading companies in South Korea's healthcare and medical industry and listen to voices from the field. This time, we visited 'JSK Biomed,' a company that has garnered domestic and international attention for its innovative medical technology called the 'needle-free syringe,' even amid the COVID-19 pandemic crisis. We closely examined the company's inside with CEO Jinwoo Jeon, who is dedicated to technological innovation and planning for the future even during the COVID-19 turmoil. - Editor's note

"Oh, you've gone through some trouble to come down here. We are still a small startup company that has taken up residence inside a business incubator," JSK Biomed CEO Jinwoo Jeon greeted us with the warm spring sunlight. What does a company creating value with a technology that has never existed before really look like?

It was a first visit filled with a mixture of excitement and apprehension.

All employees of JSK Biomed, located in the Chungnam National University Startup Incubation Center, were brimming with passion and anticipation for the future. After a quick introduction and a cup of tea, the first place we were guided to was not the CEO's office but the research laboratory. Stepping into the lab, we immediately felt a passion from their college years, and it became clear that this was a company truly dedicated to competing with cutting-edge technology.

The origin of JSK Biomed's so-called "needle-free syringe," known as 'MiraJet,' dates back to 2010. At that time, the Department of Mechanical Engineering at Seoul National University had successfully developed high-pressure needle-free injection technology using the principles of rocket propulsion for space launch vehicles and obtained a patent. However, they faced difficulties commercializing the technology due to a lack of medical knowledge and understanding of the healthcare market. Then, CEO Jinwoo Jeon approached the research professor and initiated a technology transfer agreement, which marked the beginning of their journey.

CEO Jeon Jinwoo reflected on that time: "I was determined to turn my dream into reality, introducing the world's first 'needle-free system' to the global medical market." As I looked around the lab where, with various research equipment and consumables on the research tables and impressive-sized laboratory equipment scattered throughout, it was evident that his efforts had paid off,

The senior researcher who noticed our curiosity about how drugs could be injected into the skin without needles continued with the technical explanation: "The needle-free syringe utilizes the explosive force generated when the laser's optical energy interacts with water in a confined space." Put simply, when you irradiate water in a sealed space with a laser, it causes an instantaneous explosion, and this momentary pressure is transmitted to an elastic membrane, forcefully spraying the drug in a jet form through the skin, thus delivering it."

Observing the process of drug injection without needles through a live demonstration, we felt the natural, palpable enthusiasm and anticipated this company would become the world's best in this field.

JSK Biomed invests generously in R&D, with approximately 50% of its team comprising researchers. We could see CEO Jeon's pride in his research team: "They are dedicated to various patent

applications and research and development efforts, and as their development progresses, new patents continue to pour in." He also emphasized the importance of carefully considering continuous patent applications to hold more competitive exclusive patents. He also revealed their dedication to technology development focused on utilizing a third energy source to replace lasers. Furthermore, they are striving to downsize all their products and increase cost-effectiveness to ensure that more medical institutions can offer the experience to their patients.

CEO Jeon stated, "Research and development should continue beating like the human heart beating without stopping," adding, "We allocate a significant budget of 1 billion KRW to research and development, despite being a startup with modest revenue." Of course, they also receive substantial government support for technology development projects, making this possible. CEO Jeon firmly believes that continuous research and development are the only means for a company to gain competitiveness and survive. He is committed to actively

incorporating user feedback into the research to enhance user convenience, paying attention to this aspect of their work.

From the 1st generation (leftmost) to the most recent, here's the evolution of JSK Biomed's needle-free syringe. CEO Jeon is devoted to developing related protocols to expand the application of the needle-free syringe into a broader range of fields beyond cosmetic medicine.

JSK Biomed currently holds the original patent from Seoul National University (in South Korea and the United States) and has registered six self-derived patents, including derivative and quantification patents, in South Korea. Furthermore, they continuously pursue international patent applications in countries like China, the United States, and Europe to protect their intellectual property globally.

After the on-site demonstration and technical explanations, they provided detailed insights into the market outlook and business plans. Currently, MiraJet is used for cosmetic medical purposes to deliver drugs into the skin for skin improvement. They also prepare products that can be applied to general skin care, leveraging their validated technological capabilities. Furthermore, they are developing protocols for various applications in broad medical fields, such as vaccines, insulin self-administration, localized drug delivery for cancer treatment, burn care and wound healing, intraocular drug injection, and dental applications. Additionally, they plan to launch a home care device, expanding and developing it into a versatile and widely applicable device.

CEO Jinwoo Jeon expressed his ambitious goal: "Within the next ten years, we will strive to replace physical needles with our indigenous technology, making needle-free syringes available worldwide." He added, "Our target is to achieve a 15% global market share in high-energy needle-free systems for drug delivery devices and medical equipment by 2030." This reflects their determination to revolutionize the medical industry with their innovative technology.

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