China-based biopharmaceutical firm AffaMed Therapeutics has established its digital medicines subsidiary, AffaMed Digital.
Based on a press release, the newly formed unit will focus on developing and marketing evidence-based, clinically validated digital medicines to treat, diagnose, prevent and manage medical disorders or diseases, either as stand-alone novel treatment options or alongside other therapies.
Dr. Minji Kim, who was appointed as general manager of AffaMed Digital, said the company will focus on creating digital solutions for ophthalmic, neurological, and psychiatric disorders.
WHY IT MATTERS
AffaMed is advancing towards the addition and integration of digital therapeutics and diagnostics systems into its portfolio of solutions for eye, brain, and mental health disorders.
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This began in September when the company entered into a strategic partnership with Beijing Tiantan Hospital of Capital Medical University and Beijing Infinite Brain Technologies (IBT) to develop a digital therapy in neurological diseases. AffaMed also inked an in-license global rights deal with IBT to develop and sell new digital therapeutic programs for the treatment of post-stroke cognitive impairment and other indications. A trial for the treatment candidate started in October.
“AffaMed Digital is the realization of our vision for disruptive innovation and we are confident of its ability to unlock vast new market potential. Benefiting from its specialized focus and resources, AffaMed Digital will strengthen our ability to deliver results and value for patients from these new innovations,” said AffaMed CEO Dr. Dayao Zhao.
MARKET SNAPSHOT
AffaMed is taking a piece of the global digital therapeutics (DTx) market, which was forecasted to grow to $10.62 billion in 2025 from $3.53 billion last year, according to a report by ResearchAndMarkets.
There are existing players in the DTx space in Asia-Pacific, such as Fitterfly in India and CureApp in Japan.
There have also been global partnerships around digital therapies in neurological diseases. For example, telecommunications firm KT Corporation from South Korea and US-based NeuroSigma are working to develop and market electronic therapies to treat ADHD, depression, and epilepsy. Japan-based Sumitomo Dainippon Pharma Co. and behavioral health firm BehaVR from the US are also collaborating to create prescription DTx for major mental health disorders.
Source: Mobihealthnews
