Mr. Seo Jungmok, the CEO, was invited as a speaker to the NANO 2023 conference organized by the Institute of Electrical and Electronics Engineers (IEEE). This invited lecture, titled “Development of Durable and Facile Anti-Biofouling Coating for Biomedical Implants (I),” was conducted on July 4, 2023, targeting experts in the relevant field.
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]
Lynk Solutec has completed the domestic patent application for its developed endoscopy cap, C.E.V.
Typically, endoscopy lens visibility can be obstructed due to bleeding or fogging, and while anti-fogging agents are commonly used, they have the drawback of short-term effectiveness and potential infection risks. To overcome these issues, Lynk Solutec has developed a material that prevents the attachment of various biological substances such as blood, moisture, mucus, and bacteria, and incorporated it into a cap that can be fitted onto endoscopy equipment.
Medical professionals can now maintain a clear field of vision without the need for new equipment, and patients can experience safer and more precise endoscopic diagnostics and surgeries. This patented product aligns with the core values of Lynk Solutec, addressing challenges in the medical field and enhancing the health and surgical safety of both patients and healthcare providers.
Lynk Solutec is a startup specializing in the development of coating materials that prevent the attachment of blood and bacteria to endoscope lenses. Founded in July 2020 by Seo Jungmok, a professor in the Department of Electrical and Electronic Engineering at Yonsei University.
CEO Seo introduced Lynksolutec as a company commercializing nano-coating technology that has been developed in collaboration with researchers for a long period.
Nano-coating is a medical device coating technology that inherently inhibits thrombosis and side effects caused by bacteria.
“The advancement of medical equipment has been linked to the development of medical technology, saving countless lives through treatment. Among them, endoscopes are the only tools for observing our body precisely during surgery, and the clear condition of the lens is especially important. While conducting collaborative research with doctors, we learned about persistent issues that occur during endoscopic surgery. During surgery using endoscopes, the lens frequently becomes obscured due to factors such as fogging from the patient’s respiration or bleeding caused by tissue excision. Traditionally, approaches like attaching devices injecting saline solution or using anti-fog agents were used to address these issues. However, saline solution runs the risk of being aspirated into the respiratory system during bronchial-related surgeries, and the anti-fog agents have limitations in preventing blood attachment,” CEO Seo explained.
He began researching ways to fundamentally prevent visual impairment beyond the conventional methods. As a result, they developed a nano-coating that can inherently prevent the attachment of any substance.
“The nano-coating technology of Lynksolutec uniformly applies a very thin liquid to the surface. This liquid can inherently inhibit the attachment of substances, such as water vapor, blood, and bacteria, that cause issues before and after surgery on the surface of medical devices. The nano-coating can be directly applied to various materials of medical devices, including metals, ceramics, and polymers,” he added. He further stated that they plan to expand the application of nano-coating technology to various medical devices such as orthopedic artificial joints, dental implants, urological stents and catheters, and ECMO.
“Recent advancements in laparoscopic and robot-assisted surgeries have significantly reduced surgery times and incision sites. However, the only method of observing the surgical area remains endoscopy. Due to the attachment of steam and blood during surgery, there is a significant inconvenience requiring personnel to constantly clean the endoscope on-site. Depending on the level of standardization at different hospitals and the proficiency of individuals, the frequency of adverse events varies, resulting in substantial costs for education and management. The nano-coating technology developed by Lynksolutec can inherently inhibit the attachment of substances that cause harmful effects to the surface of medical devices. The advantage of this item lies in its infinite potential applications. The fact that doctors are directly participating in research and development is also a competitive advantage.”
CEO Seo was asked about how he started the business. He said, “While conducting research, I always dreamed of seeing the technology I had developed being practically applied and commercialized. During this time, doctors who were experiencing inconvenience using endoscopes showed interest in Lynksolutec’s technology, which led me to challenge entrepreneurship. Through preliminary startup packages, leading laboratory startup projects, and initial startup packages, we have been able to consistently pursue research and development.”
In 2022, Lynk Solutec received investment from Daily Partners and Yonsei University’s technology holding company. It was also selected for TIPS.
Regarding future plans, CEO Seo said, “We will focus on obtaining medical device approvals for the commercialization of caps for endoscope vision, which is our first product. We also plan to enter foreign markets through collaboration with global medical device companies.”
[HanKyung Job & Joy, Reporter Lee Jin-Ho]
Yonsei University Technology Holding Company, led by CEO Kim Ji-hyun, has announced that they have successfully secured a ₩1 billion seed investment for Lynk Solutec, a specialized bio-medical device company.
Lynk Solutec, founded in July 2020, is built on the foundation of the nano-coating technology developed by Professor Seo Jung-mok’s research team at Yonsei University. The company possesses innovative medical device coating technology that prevents the adhesion of infection factors such as blood and bacteria on the surfaces of various medical devices and effectively inhibits thrombus formation, thus addressing a wide range of pre-and post-surgical side effects.
Currently, Lynk Solutec is focusing on the development of a technology that resolves the problem of impaired visibility in medical endoscopy due to blood and mucus during surgery. Based on this breakthrough, they plan to introduce products that completely eliminate side effects associated with transplantable medical device materials, such as medical tubes, plastic surgery implants, and stents.
The seed investment was made jointly by Yonsei University Technology Holding Company and Daily Partners, a specialized bio-venture capital firm. The investment took place during Lynk Solutec’s business expansion phase as they received technology transfer from Yonsei University’s Industry-Academic Cooperation Division.
Kim Ji-hyun, CEO of Yonsei University Technology Holding Company and concurrently the Director of the Industry-Academic Cooperation Division, expressed, “The technology holding company has supported Lynk Solutec’s growth through technology commercialization programs, ranging from startup preparation to business validation through the Ministry of Education’s BRIDGE+ program, investment utilizing university startup funds, and subsequent R&D support through TIPS (Technology Innovation Program Support).” She further stated, “We plan to continue our support to ensure the successful commercialization of Yonsei University’s outstanding research outcomes.”
With this recent investment, Lynk Solutec aims to advance their nano-coating technology called Lynk Coating to achieve 1st or 2nd grade medical device approval and commercialization. They also plan to intensify their R&D efforts for developing coating technology that can be applied to all medical materials.
