Lynk Solutec Inc., the developer of a cap for endoscopy that prevents fogging and blood attachment, received the top prize in the Life Sciences category at the ‘Republic of Korea Outstanding Patent Awards’ for the first half of 2023. This event, organized by the hankookilbo and sponsored by the Korea Intellectual Property Office, comprehensively evaluates the expertise, technicality, feasibility, and productivity of patented technologies.

Lynk Solutec Inc. has designed a solution-based medical device to address the visibility challenges faced by endoscopy medical professionals. Previously, the attachment of blood, moisture, and smudges to endoscope lenses often resulted in a complete loss of visibility, necessitating frequent lens cleaning. This posed risks to patients, exposing them to infection and inflammation, while medical professionals also complained of fatigue due to an approximately 20% increase in surgical procedure time.

Lynk Solutec Inc. has developed the ‘Clear Endo Vision’ endoscopy cap, which prevents the attachment of not only moisture but also blood, various viscosities of mucus, bacteria, and all foreign substances. They have secured a fundamental patent for this innovation. As a result, future endoscopy procedures are expected to lead to medical innovations such as the elimination of cleaning procedures, reduced surgical time, and increased patient safety.

The core technology applied in this patent is the nano-coating technique, specifically a nano-coating technology that fundamentally inhibits various medical side effects and blood clot formation that can occur before and after surgery. This technology effectively prevents the attachment of various viscosity biomaterials (such as blood and mucus) and infectious agents, making it applicable to complex structures and various materials, thanks to the flexibility of the material.

Dr. Seo Jungmok, CEO of Lynk Solutec Inc., stated, “We are not only applying nano-coating technology to endoscopy caps but also driving its commercialization in various medical devices.” He added, “We plan to apply it to various medical devices, including orthopedic artificial joints and dental implants in the future.” To achieve this, Lynk Solutec Inc. is planning collaborations with global medical device companies and exploring opportunities for international market expansion.

On June 28th, Daily Partners, a specialized venture capital firm in the field of bio and healthcare, launched the ‘2023 D’LABS DEMO DAY’ at Seoul Sonofelice Convention Center.

Held biannually, the Daily Partners Demo Day provides a platform for promising startups with innovative bio and healthcare technologies to present their Investor Relations (IR) sessions. Industry experts and investors participate, discussing various collaborative avenues and investments, fostering a hub of exchange.

Companies presenting at this year’s first-half Demo Day included Neuroxty, Seaweed, Lynk Solutec, TCBiosciences, Mirim Gene, Cascure Therapeutics, DeepCardio, and RevoSketch.

Among the participating startups, Neuroxty introduced an AI-based imaging biomarker platform for simultaneous diagnosis and treatment of brain disorders. Seaweed highlighted the potential of seaweed-based cultured meat. Lynksolutec unveiled endoscopes designed to prevent fogging and blood adhesion, while TCBiosciences presented their pipeline of innovative low-molecular-weight anticancer agents.

Given the slump in the bioventure IPO market since the second half of 2021, coupled with the global economic crisis affecting investment banking (IB), opportunities for companies to engage in IR have substantially diminished.

The Daily Partners event has been met with enthusiasm by the bio-industry. A representative from the bio-industry who participated in the Demo Day stated, “As bio investments rapidly decline, we find ourselves in a situation where not only funding but also IR opportunities are scarce. Amid uncertain prospects for subsequent investments, Daily Partners’ Demo Day stands as a significant force for the bioventure industry.”

At present, Daily Partners holds venture capital, private equity (PE), and TIPS (Technology Innovation Program for SMEs) licenses. Recently, it was selected as the operator for the Ministry of SMEs and Startups’ Scale-up TIPS Program (4th term), positioning itself as a VC capable of investing throughout the investment cycle. Their assets under management (AUM) amount to around 400 billion KRW.

Lee Seungho, CEO of Daily Partners, stated, “Since the reestablishment of Daily Partners in 2018, we have been hosting biannual Demo Days every year.” He continued, “Even in challenging market situations, we consistently support our investment portfolio companies’ IR and PR efforts, aiming to assist fundraising and business development. We are unwavering in our commitment to conducting the event.”

[Reported by NBNTV Journalist Im Seongji]