Institutions possessing core technologies and research capabilities in the field of advanced regenerative medicine are drawing industry attention by pledging active mutual exchange and cooperation.

Seoul Yes Hospital and Seoul Yes Bio announced that they signed a joint R&D and business cooperation agreement with OV-Medi in April for advanced regenerative medicine clinical research and treatment at the conference room of the Seoul Yes Hospital annex located in Yongin Special Self-Governing City.

The three institutions that signed the agreement plan to focus their respective core technologies and capabilities on the development of a new treatment for degenerative arthritis by combining bone marrow-derived stem cells with MEST, a treatment for arthritis. They intend to fully engage in advanced regenerative medicine clinical research and apply the results obtained through continuous joint R&D to new treatments.

Seoul Yes Bio is a biotech company pursuing the development and commercialization of cell therapies through advanced regenerative medicine research. It has filed three patents related to bone marrow stem cell culture for the treatment of cartilage regeneration and arthritis. Currently, Dr. Cho Seong-hoon, an authority in the field of regenerative medicine, is leading the research and development, and the company is jointly developing bone marrow-derived stem cell therapies and immune cell therapies with Seoul Yes Hospital.

Seoul Yes Hospital is a medical institution designated as an Advanced Regenerative Medicine Implementation Institution by the Ministry of Health and Welfare in December 2024. By obtaining a cell processing facility license from the Ministry of Food and Drug Safety in December of the same year, it laid the groundwork for its full-scale entry into the advanced regenerative medicine sector.

OVMEDI is a specialized biomedical company that researched and developed MEST (Muscle Enhancement and Supporting Therapy), a medical device for pain relief in degenerative knee osteoarthritis. After obtaining a manufacturing license from the Ministry of Food and Drug Safety in July 2024, the company is targeting the domestic market for degenerative knee osteoarthritis treatment and plans to expand into the global market.

Dr. Lee Gil-yong, Chief Executive Officer of Seoul Yes Hospital, stated, “OVMEDI’s MEST is a therapeutic device that inserts special biodegradable polymer filaments into muscles to regenerate them and alleviate joint pain. I am confident that when combined with the cartilage regeneration capabilities of stem cells, the therapeutic effects for degenerative arthritis will be maximized,” adding, He pledged, “We will concentrate all the capabilities we have built as a spine and joint hospital on securing new, cutting-edge regenerative medicine technologies capable of leading the market by integrating Seoul Yes Bio’s bone marrow stem cell processing technology with OV-Medi’s MEST technology, and through this, we will successfully conduct clinical research in advanced regenerative medicine.”