SmartMed Technologies is a pioneering bioinformatics medical research and development company focused on delivering innovative medical products through artificial intelligence technology to combat prevalent, rare and emerging diseases.
Based in Seoul, our team collects and analyzes big data, utilizing artificial intelligence to gain insight into complex diseases such as leukemia and different cancers. Our approach centers on genome integration with high-performance computers and deep artificial intelligence learning.
With our advanced technology, we have been able to cut costs arising from industry trial-and-error procedures; with the integration of supercomputers into our work, we are able to run more comprehensive simulations, better target proteins, discover new drug compounds for a multitude of diseases, and generally increase our capacity for successful drug development.
With international recognition for our research and projects, some in collaboration with world-renowned institutions, we consistently aim to develop our understanding in the medical field through artificial intelligence and advanced clinical trials.
SmartMed Technologies, co-founded by Hyung-min Joon and Bayard J. Donovan in Seoul, is at the forefront of the medical revolution, developing targeted drug solutions for a range of diseases through advanced artificial intelligence and high-performance computer systems.
We strive to unlock secrets and make landmark discoveries by analyzing scientific data through technology, from identifying candidate targets within disease cells to clinical trials and extensive real-world simulations. Driven by artificial intelligence, we gain new insights that would otherwise be unobtainable in the post-modern era, utilizing technology to increase our knowledge and understanding.
From predictive models and molecular analysis to evaluating potential disease-cell target candidates, artificial intelligence has played an important role in driving advancements in our field. It has given our scientists and researchers key tools and direction by providing vital information on what to make and what to target based on our increasing understanding of diseases, how they spread and what they need to survive.
Every day, we at SmartMed Technologies are looking for new drug discoveries to eradicate some of the most prevalent disease known to humankind, with technology giving us crucial insights into how we can achieve this. We play a key role in the research and development process of drugs, with significant value to global pharmaceutical companies, discovering new ways to combat diseases. We develop and administer drug programs and trials, derived from our research and analysis, for respiratory diseases, neurological diseases, cancers, and cardiovascular diseases, with many other medical areas also of great importance to SmartMed Technologies.
What Is Artificial Intelligence?
Artificial intelligence has lead massive advancements in the medical field, with high-performance computers and pioneering software developments enabling us to gather and analyze huge amounts of data. Subsequently, this information is used to identify drug targets within disease cells and informs our scientists as to what to produce.
The term “artificial intelligence” broadly refers to computer technology that replicates thinking processes associated with human intelligence, but with a refined, objective approach to reasoning, learning and understanding. Typically there are four specific typed of artificial intelligence:
Theory of mind
Whilst modern artificial intelligence is somewhat in its infancy, it has already enabled us to make great strides in a range of fields, from medical research to farming techniques. Artificial intelligence integrates logic, mathematics, biology and reasoning to enable it to make sense of its surroundings and draw comprehensive conclusions based on its objectives and understanding.
With the ability to interpret structured and unstructured data, artificial intelligence is exceptionally adaptive and continues to learn to deliver vital information, giving us direction and key data in our pursuit of medical advancement and research into diseases and drug targeting.
What Is Artificial Intelligence?
Artificial Intelligence - Uses And Potential
Artificial intelligence is being utilized for a range of medical and research purposes; detecting diseases, chronic pain management, delivery of services, drug discovery, cell-relationship analysis, and general relevant information gathering to enable us to better understand conditions and, importantly, build knowledge.
Whilst is has seemingly vast potential for disease treatment and medical research, artificial intelligence still lacks certain human characteristics and raises some ethical and practical dilemmas, such as:
The potential for autonomous artificial intelligence to make inaccurate decisions.
Inherent biases in the data that is used to train artificial intelligence systems.
Ensuring the protection of sensitive information.
Building public trust in the development and use of artificial intelligence technology in the medical field.
Effects on people’s dignity and social isolation in care situations.
The potential for artificial intelligence to be used for malicious purposes.
To mitigate these factors, we are continuously adapting our approach to artificial intelligence, being pragmatic in how we build, train, develop and secure this technology. We also consistently strive to pioneer new artificial technology systems, analyzing information and looking at how we can improve functionality and operations in regard to results, analysis and interpretation.
Here, we look at the many ways that artificial intelligence has been utilized to the benefit of the medical field and general healthcare, and also its potential uses in the future.
Artificial Intelligence - Uses And Potential
Artificial intelligence has the potential to revolutionize resource management and allocation in social care and general health services, with IBM Watson Care Manager, for example, being trialed in hospitals to improve quality of service and decrease costs; it works by matching individuals with healthcare professionals that meet their needs within an allotted budget.
With the advent of applications on handheld devices, such as smartphones, artificial intelligence can also be put to use by those seeking healthcare, helping to deliver an improved patient experience. Certain apps can identify anxieties of patients and gather information for healthcare professionals before an appointment and better equip them to treat individuals with unique needs.
Artificial intelligence is used widely in medical research to gather and analyze information, identify patterns, detect early signs of diseases, and provide vital data, enabling scientists to produce targeted drug treatments. It also helps by scanning databases and scientific literature of previous and relevant studies to aid drug discovery and development.
Our databases combine both clinical and genetic information from patients gathered during scientific research. Artificial intelligence also uses databases to make precise, calculated predictions, based on its understanding of accumulated data, about potential targets for drugs.
Artificial Intelligence - Uses And Potential
With medical scans and imagining routinely collected and stored, they are readily available to artificial intelligence to help train systems and ensure familiarity and understanding of conditions and diseases. Artificial intelligence can reduce both time and costs when analyzing scans, delivering comprehensive evaluations and informing decisions of healthcare professionals. In this area, artificial intelligence has shown spectacular results with eye diseases, skin cancers and pneumonia.
Screening for Neurological Conditions
Artificial intelligence is also being developed to analyze patterns of speech to identify and even predict psychosis and neurological conditions, such as Parkinson’s disease. It has the potential to monitor symptoms and provide information, based on its understanding derived from databases, to inform healthcare professionals as to which course of action to take.
Artificial intelligence systems are controlling robotic tools that are being used in certain surgeries, such as in keyhole surgeries, being used to accurately close wounds.
It also has the potential to be used to detect early signs of epidemics or outbreaks of diseases, and can even be used, in these situations, to locate the sources. It has already been utilized to predict potential adverse drug reactions in individuals.
Medical Research Using Artificial Intelligence
The dilemma with drug research and development is that this process can take more than a decade and cost, in many cases, over a billion dollars before drugs make it to the market; resources are wasted in the research/pre-discovery stage, with the industry being trial-and-error based.
Within biomedical data and various related databases, there are key insights hidden amongst vast amounts of information. They are waiting to be discovered. However, these datasets and their inherent patterns are too complex and diffuse to be identified and comprehended by humans. This is where SmartMed Technologies’ artificial intelligence technology comes in.
We at SmartMed Technologies remove guesswork and simple predictions from data analysis by utilizing our innovative, unique artificial intelligence technology, with our systems able to examine massive biomedical databases to identify patterns. With this, we are able to build knowledge, improve our understanding, and, subsequently, provide vital information that is used to develop targeted drugs for various diseases.
With SmartMed Technologies’ state-of-the-art machine-learning technology being applied to data analysis, we are able to eliminate much of the uncertainty when attempting to discover and produce new drugs to target specific diseases and their cells. We can also significantly reduce the time in the research and development phase by understanding and identifying candidate drugs, through artificial intelligence, with better potential than others.
Medical Research Using Artificial Intelligence
Active Data Passing
We at SmartMed Technologies input various databases, published journals and biological models into our artificial intelligence systems to create one massive reservoir of information from which it can learn, understand and build knowledge. This gives our artificial intelligence systems everything they need to evaluate information and identify patterns, crucial to discovering potential targets for drugs.
Our artificial intelligence technology automatically and efficiently analyzes innumerable combinations of data through deep-learning models to identify any hidden patterns that may be concealed within the massive amounts of information in the database. Not only does our artificial intelligence generate models, but it also delivers detailed analysis and explanations of how each model was generated, providing vital insights for researchers and scientists.
From these models and our analysis, we then look at how different drug compounds would interact with people and their biological consistency and condition. This is crucially used to decide which drugs/compounds will be tested, leading to a set of potential solutions for various diseases.
Medical Research Using Artificial Intelligence
Chest Radiography Nodule Detection
The accurate detection of lung nodules is an extremely challenging undertaking due to the need to interpret chest radiographs, with the average miss rate reported to be as high as between 20% and 30%.
It is difficult for radiologists, who must read a huge amount of images in a limited amount of time, and also for non-specialists who often lack the expertise to properly read and understand abnormal and unique cases involving hidden or small nodules.
Missing early signs of lung cancer, for example, has massive implications for the patient, with the five-year survival rate reduced by 50% when undetected and left untreated for around one year.
Chest Radiography Nodule Detection, developed and created with advanced deep-learning technology, can accurately detect all forms of lung nodules and works as a diagnostic support tool. The artificial intelligence system generates heat maps that provide location data based on detected abnormalities, making it easy for clinicians to interpret the information and understand the exact condition of each patient.
Small or hidden nodules are more easily detected, reducing the risk of nodules being missed upon reading of chest radiographs.
Helps physicians make an early diagnosis of lung cancer with chest radiographs.
Enables non-specialists to more easily detect lung nodules in chest radiographs.
Chest Radiography Major Chest Abnormalities
One of the most fundamental diagnostic tests in medicine today, chest radiography accounts for 25% of the total annual diagnostic images in the field. Unfortunately, miss rates for chest radiography are as high as 30%, causing increased mortality among patients from treatable illnesses.
Furthermore, the effectiveness of interpretive chest radiographs in detecting signs of illness and disease varies from specialist to non-specialist radiographers. Diseases that can be detected through chest radiographs include lung cancer, pneumonia and tuberculosis.
In this area, machines with artificial intelligence technology can accurately detect mass consolidation and abnormal lung nodules, once again generating heat maps easily interpreted by both specialists and non-specialists, reducing the chance of diseases or illnesses being missed due to differing interpretations among those in the field or the unique condition of the disease/patient. In most cases with artificial intelligence systems operating in this area, clinicians and radiologists act as a “second reader”, simply confirming the data and findings of the machines.
Prevents challenging cases of chest abnormalities from being missed in chest radiographs.
Helps physicians make an early diagnosis of chest abnormalities with chest radiographs.
Enables non-specialists to easily detect chest abnormalities in chest radiographs.
Mammographic screening is the main test for breast cancer and has been proven to increase survival rates if regularly undertaken by individuals. However, it is far from being an exact science, with false negative interpretations reported to range from between 10% and 30%.
Also, among the 10% of patients recalled for follow-up tests, only 5% are diagnosed with breast cancer, which represents a 95% false positive reading rate.
With the introduction of artificial intelligence and the data and precise results it generates, it can significantly decrease false interpretative readings by clinicians, delivering important information in breast cancer screenings. It detects suspicious lesions and abnormalities in the form of heat maps and helps clinicians and radiologists determine its nature, whether it be benign or malignant.
Assists breast specialists and general non-specialist radiologists to increase cancer detection rates and decrease recall rates when interpreting mammograms.
Enables radiologists to perform at a specialist level with easily interpretable results and data.
With the rapid advancement and proliferation of digital pathology, the field is experiencing development through technological innovation. With artificial intelligence-based analysis of digitalized pathology slides, big data, which has never been fully utilized, will increasingly play a leading role in revolutionizing the medical field.
This data enables artificial intelligence analysis of a multitude of cancers and also allows for artificial intelligence to identify abnormal and diseased cells based on histological images. This data provides the crucial foundation for developing artificial intelligence biomarkers in cancer therapy.
Tumor infiltrating lymphocytes have been identified to be closely associated with consistently improved outcomes and are also predictive for the response of treatment for various tumors, in the colon, ovaries, breasts and lungs. The presence of these lymphocytes is recognized as an indicator the immune system is attempting to attack tumors. It also has great potential to function as a biomarker of the response of the immune system.
The Scope, developed with deep-learning artificial intelligence technology, can accurately detect lymphocytes, cancer stroma and cancer epithelium in slide images, with artificial intelligence generating tumor infiltrating lymphocytes density data and ratios.
Assists pathologists and researchers in accurately quantifying the amount of tumor infiltrating lymphocytes.
Enables researchers to establish biomarkers through immune phenotyping.
Chief Executive Officer and Co-Founder
Hyung-min Joon is a Co-Founder and the Chief Executive Officer at SmartMed Technologies. He is an expert in artificial intelligence and widely considered to be an industry pioneer, with visionary business insights into healthcare.
Since co-founding SmartMed Technologies, Hyung-min has led the firm’s financing rounds, and has supported the research and develop of products for detecting brain hemorrhages and C-spine fractures. Hyung-min has also played a key role in creating global health systems.
Hyung-min began his long career in the Republic of Korea Armed Forces’ technology program. There, he led artificial intelligence research, managing several teams focused on machine learning and computational projects.
Hyung-min holds a Bachelor of Science from the Seoul National University in South Korea in Biology and Physics and also attained a Master’s degree in Pharmacology from Tokyo Medical University in Japan.
Bayard J. Donovan
Chief Technology Officer and Co-Founder
Bayard Donovan is a Co-Founder and the Chief Technology Officer at SmartMed Technologies. He has vast experience in medical imaging and technical visualization.
Since Bayard co-founded SmartMed Technologies, he has assisted in the creation of one of the largest medical imaging databases in the world. He has also defined an extensive product roadmap for SmartMed Technologies and is focused on revolutionizing the medical field through innovation.
Bayard began his career at Oracle Corporation in their Applications Development department. There, he was responsible for restructuring the firm’s human capital management software and then later managed an international team.
Prior to coming to SmartMed Technologies, Bayard headed up the research and development department for Canadian software firm OpenText, where he was at the forefront of the company’s transformation into an enterprise information management leader.
Bayard earned his Master’s degree in Instructional Technology from Columbia University in the United States and holds a Master of Science degree in Computer Science from Stanford University.
Chief Financial Officer
Tracy is SmartMed Technologies’ Chief Financial Officer, focusing on our strategic growth. She has more than 20 years of experience in global financial markets, investment research and business development consulting.
Her previous experience includes nine years at Wells Fargo, where she led the mergers and acquisitions department. Prior to that, Tracy spent seven years at the Bank of New York Mellon, where she managed their investment banking division.
Tracy graduated with a Bachelor’s degree in Law with a post-graduate degree in Business Law from Cornell University in New York. She also holds a Master of Business Administration degree in Financial Markets from the University of Michigan.
Vice President of Research and Development
Ji-hye Yeong is SmartMed Technologies’ Vice President of Research and Development. Ji-hye has broad international experience with high-performance computer systems, research of algorithms and software development.
She has led the development of our products and provides key insights into the future direction of SmartMed Technologies. She has established a team of world-class artificial intelligence developers which has enabled us to release abnormality-detection solutions for a range of diseases and illnesses.
Ji-hye began her career with the South Korean startup Lablup, where she researched algorithms using artificial intelligence and cloud technologies. She also created a training platform for building deep-learning systems and computational research.
Before SmartMed Technologies, she headed a research team in high-performance computing for South Korea-based XBrain, where she developed data analysis techniques.
Ji-hye Yeong holds a Bachelor of Science in Physics from Gwangju Institute of Science and Technology in South Korea and a Master of Science degree in Data Analytics from the University of Science and Technology in Seoul.
Dr. Norman Hammond
Chief Medical Officer
Dr. Hammond is SmartMed Technologies’ Chief Medical Officer, applying his expertise and knowledge to ensure the continuing development of advanced healthcare and artificial intelligence in the medical field.
With over 25 years of global clinical research and development experience in imaging and medical devices, he has managed our imaging product development programs and is now researching endovascular neurosurgery.
A double graduate (Doctor of Medicine and Doctor of Philosophy) from the University College London, Dr. Hammond completed his radiology residency at a leading hospital trust in London.
Interest and investment in artificial intelligence has significantly increased in recent times, with its limitless potential and broad applications. Our business model at SmartMed Technologies is built on transparency and ethical accountability derived from our perceived responsibility and self-duty to advance the medical field for the benefit of humankind.
We aim to discover new ways to detect diseases and seek to provide the tools to combat them. Developing innovative medical devices and medicines, we look to reduce costs, improve accuracy and deliver better healthcare globally.
Our mission at SmartMed Technologies is to use artificial intelligence systems and technologies to analyze data to help create advanced drugs, medicines and medical devices. We use the power of artificial intelligence to simplify the medical field and make it easier to detect and treat diseases.
The application of artificial intelligence at SmartMed Technologies is focused on identifying new drug targets, developing advanced medical devices to improve treatment and its effectiveness, reducing time and costs of developing new drugs, and improving clinical trials.
Through our continued search for understanding and knowledge, and with our extensive experience in this niche field in medicine and healthcare, we are ideally positioned to lead technological innovation in our chosen areas where the potential for returns on investment and capital input is substantial. We aim to create and innovate whilst commercializing our technologies and artificial intelligence systems.
If you would like to learn more about investing in SmartMed Technologies and joining us on our journey of discovery and innovation, please contact our Investor Relations department.