AIDOT announced on the 8th that it has signed a three-year supply contract worth USD 20 million with CerviQ in the Philippines for “Cerviray AI.”
CerviQ is a cervical cancer screening specialized company founded in 2014 by a local obstetrician-gynecologist in the Philippines.
The company had been conducting screenings using Pap smear cytology, HPV-DNA testing, and VIA (Visual Inspection with Acetic Acid). However, because the Philippines is made up of roughly 7,000 islands, there were limitations to carrying out cervical cancer screenings smoothly. In addition, a shortage of specialists and cytology equipment made it difficult to expand screening coverage.
Meanwhile, cervical cancer ranks first among cancers affecting Filipino women, making the need for screening particularly urgent.
CerviQ addressed this problem by adopting AIDOT’s Cerviray AI, which uses the VIA method.
Cerviray AI enables cervical cancer screening in a mobile vehicle, and with Cerviray AI’s proprietary colposcope equipment, patients can also be screened on islands.
In addition, with an AI reading accuracy of 93%, it is assessed as highly efficient for pre-screening cervical cancer among Filipino women.
AIDOT decided to manufacture and supply its own equipment instead of relying on existing Swedish colposcope equipment, has completed development of its proprietary camera, and is currently carrying out mold work for mass production.
Accordingly, AIDOT expects that by no later than the end of March, it will be able to begin full-scale supply of its AI-based screening solution, including its proprietary colposcope equipment, to partners in Korea and overseas, including the Philippines.
AIDOT has obtained ISO 13485 and European CE certifications, and has also completed export-use KFDA Class 3 and GMP certifications. Domestic KFDA certification is currently underway.
CEO Jeong Jae-hoon said, “AIDOT is the only domestic AI-based medical ICT company that has grown solely through national government R&D projects and went on to achieve exports,” adding, “If we comfortably achieve our export target of KRW 10 billion this year, we are also considering pursuing an IPO around 2022.”
Published: February 8, 2021 / Korea Economic TV / Reporter Kim Seon-yeop
