Plasmapp contracts worth 30 billion won with U.S. companies, and 'signal' to enter the U.S

Five-year supply contract and expansion plan for dental and ophthalmology supply
Development of FDA-certified 'Small Plasma Sterilizer' for the first time in the U.S

Plasmapp recently signed a supply contract worth 30 billion won for 5 years with company V, a global U.S. company, with a small plasma sterilizer called "STERLINK." [Picture = Plasmapp provided]
Plasmapp a company from KAIST's physics department, has signaled its entry into the U.S. It is reported that it has signed a supply contract worth 30 billion won for 5 years with company V, a global company in the U.S. The startup, which has been in its seventh year since its establishment, was able to achieve such a feat because of its unique technology called "small plasma sterilizer." Earlier in October, Plasmapp obtained the U.S. Food and Drug Administration (FDA) certification for the technology for the first time in the U.S.

Plasmapp (CEO Lim You-bong) announced on the 16th that it has signed a supply contract worth 30 billion won for 5 years with company V, a global company in the U.S., with its own small plasma sterilizer "STERLINK." It is a method in which company V receives a quarterly agreement from Plasmapp for five years and sells it to hospitals.

STERLINK is a small plasma sterilizer that has been certified as a Class II Medical Device (FDA). It is characterized by a 10-fold reduction in equipment and prices by supplementing the fact that large-capacity manufacturing was inevitable as the existing large plasma sterilizer sterilized for more than an hour. It developed a dedicated pouch with a technology (Medi-DSP) that directly injects plasma sterilizers, reducing the time required for sterilization to at least 7 minutes.

"STERLINK," a small plasma sterilizer of a plasma map certified by the U.S. Food and Drug Administration (FDA). [Picture = Plasmapp provided]
The contract is sold at animal hospitals throughout the United States. For example, general hospitals have laws related to disposable and multi-use medical devices. On the other hand, animal hospitals have no specific basis for sterilization solutions. Therefore, it was impossible to respond to problems such as reuse.

Plasmapp's STERLINK dramatically improved this problem. Disposable animal hospital medical devices worth $500 are rapidly sterilized and reused. The advantages of STERLINK, which is more than 10 times smaller than existing large equipment, also contributed to the active use of animal hospitals.

Plasmapp also established a Plasmapp America branch in Delaware last week. Starting with this supply contract, it is explained that another U.S. global company P is also scheduled to sign a contract. In the future, it plans to expand the scope of suppliers such as dentistry, ophthalmology, and orthopedics to sell STERLINK on a large scale and compete head-on in the U.S. market where plasma sterilizer source technology has been developed.

Lim You-bong, CEO of Plasmapp, said, "Through this contract, we found that the small plasma sterilizer with unrivaled performance and economic feasibility is also needed in the U.S. market and in high demand," adding, "We will do our best to help Plasma bring innovation to the medical community. We will boldly challenge businesses that target the world beyond the U.S.," he said.

Meanwhile, Plasmapp won the Minister of Trade, Industry and Energy Award at the 2021 Korea Industrial Technology R&D Competition held on the 17th of last month. As the Korea Technology Awards mainly target large companies such as Samsung and LG, this Plasmapp is the only one among startups to win. On the 16th, he received a commendation from the Prime Minister at the Venture Business Promotion Merit Award ceremony.

◆ What about the plasmapp?

Plasmapp is a startup that was born in 2015 at KAIST's physics and plasma laboratory. It has applied for 143 patents so far and was evaluated as a preliminary unicorn by the Ministry of SMEs and Startups last year. Earlier this year, it received an A grade in the special technology evaluation for preliminary technology listing for listing on the Korea Exchange. Recently, investment has been attracted through Pre-IPO, and the cumulative investment so far has reached about 46 billion won.