The 'smartwatch,' now embraced by people of all ages, was heralded as a 'mobile revolution' upon its release. It transcended the handheld smartphone by fulfilling unmet needs, allowing users to monitor health metrics simply by wearing it. Artificial intelligence (AI) technology, which can autonomously manage data and interpret user behavior, is poised to merge with smartwatches, significantly impacting disease treatment and care. InHand Plus has developed a smartwatch medication management solution called InHandWatch, which automatically records real-world data (RWD) on medication and health behaviors using AI. This innovation aims to revolutionize the healthcare market by implementing AI directly within the device, eliminating the need for separate servers or cloud connections, and creating a "physician on your wrist."

Hwi-Won Lee, CEO of InHand Plus, stated, "By leveraging the strengths of on-device AI technology, which allows for hands-free operation, we aim to meet the diverse demands of the healthcare market. We plan to use our core AI technology to collect a wide range of health-related behavioral data that were previously difficult to detect, thereby expanding its applications in decentralized clinical trials and remote patient monitoring."

Clinical trials typically take over ten years and require at least $33 million in investment, but their success rates are low. Reducing the time and cost involved in these trials is crucial for new drug development, but 'medication non-compliance' remains a persistent challenge. The reliability and success rate of clinical trials hinge on how accurately participants follow the medication guidelines, including dosage, timing, and frequency. However, this process is often compromised by participants' subjective judgments and adjustments, which are difficult to control completely.

InHand Plus has targeted the clinical trial market, which demands speed, efficiency, and high-quality data. Founded in 2019, the company faced the COVID-19 pandemic, a period when the demand for clinical trials shifted from in-person visits to remote methods. The Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA) has highlighted the growing global trend of using decentralized clinical trials (DCTs). They noted, "Strategies utilizing DCTs are increasing worldwide, and discussions on clinical trials using real-world data (RWD) and AI are also active. It's important to stay open to technological changes."

InHand Plus has set milestones in line with this trend. CEO Hwi-Won Lee stated, "We have identified decentralized clinical trials (DCTs), which can maximize the strengths of wearable medication management solutions, as our primary target market. By using AI to detect real-world data on medication behavior, we can enhance accuracy, reduce drug development costs, and lower healthcare expenses, meeting the needs of pharmaceutical companies, contract research organizations (CROs), and healthcare institutions."

InHandWatch's AI medication management technology has attracted significant interest from major investors since its early development. In 2020, it was selected for startup support programs by global pharmaceutical companies Bayer and Merck and secured strategic investment from C&R Research, a South Korean clinical research organization (CRO), boosting its momentum. Since 2021, global clinical studies conducted with institutions in South Korea (Seoul National University Hospital), Japan (National Center for Geriatrics and Gerontology), and China (Peking Union Medical College) have shown that the medication adherence of participants using InHandWatch improved by more than 20%.

Starting in 2022, InHand Plus expanded its collaboration with global DCT specialists and pursued smart clinical trials for the U.S. approval of an atopic dermatitis treatment in partnership with C&R Research and Shaperon, demonstrating rapid progress for a startup. InHand Plus holds 60 patents across five areas: wearable device-based data analysis technology, AI server and monitoring solutions, advanced behavior analysis AI algorithms, wearable devices and AI data, and automated medication behavior capture systems. The company plans to file for a total of 88 patents by 2025 to establish a technological entry barrier that competitors cannot easily overcome.

InHand Plus actively participates in South Korean and worldwide industry fairs and technology exhibitions to showcase the technological value of InHandWatch. As a result, the company has demonstrated its growth potential by winning innovation awards at the world’s largest Consumer Electronics Show (CES) in both 2022 and 2023.

InHand Plus's next goal is to address the management of chronic and mental illness patients in preparation for an ultra-aging society. According to 2023 statistics from Statistics Korea, the country will become a super-aged society by 2025, with over 20% of the population being 65 years or older. This demographic shift is expected to accelerate the increase in medical expenses due to chronic diseases. The structure inherently leads to increased polypharmacy, medication misuse, and non-adherence due to cognitive decline.

To verify InHandWatch's effectiveness in managing chronic and mental illnesses, InHand Plus has been conducting pilot projects at social welfare centers and public health centers across South Korea. According to a survey conducted by InHand Plus among social workers, the medication adherence rate of mental illness patients is between 40-60%, and 95% of social workers reported difficulties in medication management. InHandWatch alleviates the inconvenience of existing smart devices, which require one hand to take medication and the other to capture the scene, by incorporating an automatic camera. It also provides AI voice reminders for medication times and chatbot consultations, making it easy for elderly patients to use. Additionally, InHandWatch is designed to input various data beyond medication, such as activity levels, heart rate, oxygen saturation, emergency situations, tremors, scratching behaviors, dietary analysis, and medication side effects, for conditions like chronic diseases, dementia, Parkinson's, skin diseases, and obesity.

CEO Hwi-Won Lee stated, "The ability to analyze not only medication behaviors but also all objects handled makes the device highly versatile. We can monitor a wide range of health behaviors to provide useful health management solutions for elderly and chronic illness patients."