Kalos Medical (Kalos) has received a grant of Won4.67m (approximately $3.5m) to advance the development of its renal denervation medical device to treat hypertension.
The funding was granted under the 2023 Industrial Technology Innovation Project, overseen by South Korea’s Ministry of Trade, Industry and Energy.
Kalos will secure the funding over the course of five years.
Kalos was chosen as the research and development lead within a consortium of institutions selected to collaborate in the interventional medical devices category.
The objective of the project is to foster collaboration between contract development manufacturing companies and medical device manufacturers to boost the advancement of quality interventional medical devices.
The project aims to address challenges related to manufacturing capabilities.
Kalos CEO Peter Chang said: “Kalos Medical’s selection for this grant represents a significant achievement and underscores the company’s commitment to innovation in the medical device industry.”
The company will collaborate with consortium partners including MNTek, a developer of biomedical sensors, the Korea Electronics Technology Institute (KETI) and Seoul National University Bundang Hospital.
Kalos’ renal denervation medical device development will be significantly enhanced by integrating KETI’s electronic medical device control system technology and MNTek’s biomedical sensor technology.
Led by Professor Chae In-ho in the Cardiology Department, Seoul National University Bundang Hospital is set to undertake animal studies aimed at confirming efficacy, safety and usability.