Completed a contract with the Ministry of SMEs and Startups for the Anyfusion drug library cylinder pump new product development project.

On August 4, we signed an agreement with the Ministry of SMEs and Startups (MSBA) to develop a new product, Anyfusion drug library cylinder pump, which is a conditional new product development project. The project is a two-year project from July 1, 2023 to June 30, 2025, and will be funded with 500 million won ($250 million) per year.

Drug library pump is a drug infusion pump used in most countries except Korea. Korea has not been able to use it even though it is a product with improved safety because the Korean Patent and Trademark Office does not recognize royalties for the high price of the equipment. Korean patients are exposed to the relative risk of medical accidents and lose their lives and health, and the labor force of medical personnel is overloaded with replacement workloads, but even with a medical budget of nearly 20 trillion won (HIRA's retained earnings), the Ministry of Welfare is turning a blind eye to the health of the people.  Even if the Anyfusion drug library cylinder pump is developed, KOSDAQ will not recognize the fee for service. Unmet needs Anyfusion ACPi system, a semi-automatic product, will be demoed in September, and the degree of market demand will be related to the marketization of Anyfusion cylinder pump and Anyfusion drug library cylinder pump.

Considering the need for the semi-automated Quick Anyfusion ACPi system in Spain, Italy, Saudi Arabia, Kuwait and domestically, we expect high demand. We have conducted a pre-demo demand survey at home and abroad and all hospitals are requesting a demo.

Judging by the behavior of the KFDA, which obstructs the adjustment of mandatory benefits with absurd data, even though the significantly improved safety and efficacy are guaranteed by the world's leading agency, the FDA, and fully qualified with sufficient SCI papers, it seems that the Korean Ministry of Health and Welfare and the KFDA are far from improving the lives and health of patients even with the remaining medical budget, even though the Anyfusion cylinder pump is a fairly safe and effective pump, as compared to the pump with a drug library program built into the existing pump whose safety and efficacy are not guaranteed due to the limitations of the original technology of the infusion pump and syringe pump.  Even if the drug library program is embedded in the Anyfusion cylinder pump, which has perfect safety and effectiveness with cylinder cartridge technology, it would be an ideal perfect drug infusion pump, but it would not be recognized by the KSC.  Therefore, it is judged that we should strategically target the market with the Anyfusion ACPi system of unmet needs in Korea.  I hope you understand that I cannot be specific with the information that is leaked in advance.

Thank you.