eMotiv Advances ADHD Digital Therapeutics with Approval for Clinical Trial and pre-Series A Funding
Korean digital therapeutics company, eMotiv, announced the approval of its ADHD digital therapeutic device’s confirmation clinical trial plan by the Ministry of Food and Drug Safety. This follows a KRW 2.3 billion pre-Series A investment from MYSC–The Wells Investment and the Korea Credit Guarantee Fund in November last year.
eMotiv, specializing in cognitive modeling and machine learning-based software, provides coaching solutions through cognitive enhancement games and behavior modification to improve and alleviate symptoms in ADHD-diagnosed patients. Notably, eMotiv received the CES Innovation Award in 2023 and the top prize in the ‘Brand & Communication’ category at the global Red Dot Design Award.
ADHD, characterized by symptoms like attention deficits and impulsivity, often persists from childhood to adulthood, with over 50% likelihood. In Korea, approximately 150,000 people were diagnosed with ADHD last year, estimating a total of around 2 million patients. Globally, the increasing number of patients has sparked interest in ADHD digital therapeutic devices.
eMotiv plans to commence confirmation clinical trials at Seoul National University Hospital and Hanyang University Hospital in January 2024, aiming for subsequent medical device approval and FDA 510K approval by verifying safety and efficacy for symptom improvement in ADHD-diagnosed patients.
Park Jung-ho, Vice President of MYSC, expressed optimism, highlighting the growing impact of early ADHD detection and treatment in reducing costs for families and society, emphasizing expectations for eMotiv’s ADHD digital therapeutic devices.
The Korea Credit Guarantee Fund expressed confidence, stating that eMotiv’s exceptional cognitive modeling technology and diverse business pipeline have the potential to reshape the ADHD digital healthcare and therapeutic market.
eMotiv’s CEO, Min Jung-sang, stated his commitment to utilizing investment funds for research and development, domestic and international clinical trials, and preparations for approvals, with a focus on reshaping the digital healthcare market.
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