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Digital Therapeutic through Visual Perceptual Learning
Driving Prescriptions with a ‘B2H strategy’ | DBR
In the still underdeveloped Korean digital therapeutics market, “VIVID Brain” by Nunaps laid the groundwork for success by leading to actual hospital prescriptions. The first factor behind Nunaps’ success is that it represents an innovative new drug. Drawing on visual perceptual learning studied in visual neuroscience, the company targeted an area—visual field impairment after stroke—that had no existing treatment methods. As Korea’s first digital therapeutics company, Nunaps ventured into uncharted territory and experienced difficulties such as clinical trial failures. However, it addressed these problems by swiftly reviewing setbacks and finding solutions with agility. Building an organizational culture that organically connects medical research with digital technology development also proved effective. Above all, what mattered most was its thorough hospital-centered B2H (Business to Hospital) strategy. By directly designing and proposing prescription processes and platforms that minimized practical burdens, Nunaps succeeded in persuading conservative hospital organizations.
The “third new drug”. This term refers to digital therapeutics (DTx). Following first-generation small-molecule drugs and second-generation biopharmaceuticals, digital therapeutics earned this label as a technology expected to reshape the paradigm of the pharmaceutical and biotech industry. They gained attention as innovative next-generation medicines suited to the era of digital transformation, since they prevent, manage, and treat diseases through software rather than pills or injections. That was the perception just two to three years ago.
The atmosphere has since shifted significantly. A symbolic case was the bankruptcy of the U.S.-based Pear Therapeutics, the emblem and first mover of the global digital therapeutics industry, in early 2023. As the world’s first digital therapeutics company, Pear Therapeutics once commanded a corporate valuation of about $1.6 billion (about 2 trillion KRW). Starting with its addiction digital therapeutic “reSET,” it successively developed therapeutics for addiction and insomnia that won FDA approval, leading the market. But that was as far as it went. Actual prescriptions in medical settings lagged behind expectations, profitability proved elusive, and the company ultimately entered bankruptcy proceedings. Other pioneering firms such as Better Therapeutics and Akili faced similar difficulties. The reasons for failure varied, but the conclusion was the same. they failed to overcome the entrenched barriers of the existing medical market, and either went bankrupt or were acquired at bargain prices. Seeing even global leaders stumble fueled skepticism about the digital therapeutics market.
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This content was translated into English by AI (using DeepL) from an article that was originally written in Korean in the DBR (Donga Business Review). Therefore, please understand that there may be some awkward expressions.
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