The needs to treat mental disorders, such as insomnia, are
on the rise. However, only a handful of treatment options exist for most mental
disorders. Currently, the most common treatment method is in the form of
face-to-face consultation with a psychiatrist. Nevertheless, it is difficult
for patients to receive this treatment, as it is often expensive and less
accessible.
Hyekang Roh co-founded WELT to solve this problem with
science and technology. WELT’s ‘digital therapeutic’ is a software that can be
‘prescribed’ to treat mental disorders. Doctors can simply prescribe the
treatment, in a software form, to the patient and the patient will receive the
automated treatment through their smartphones.
WELT’s digital therapeutic is fundamentally based on existing psychotherapy methods. Its therapeutic contents have been written by
psychiatrists and have been validated through clinical trials. Also, the
treatment software is integrated with a dedicated sensor algorithm to help
patients monitor and predict symptoms. Any digital phenotypes that may affect
the symptoms are measured through the smartphone. This helps patients receive
the therapeutic interventions needed at the appropriate timing.
Scientific validation through clinical trials is also
essential. WELT’s first pipeline targets insomnia and has been approved for
IND by the MFDS (Korean version of FDA) last year. The final confirmatory
clinical trials are in progress, and aim to be completed early next year.
WELT’s digital therapeutics will be able to offer treatment at a lower price and
will be more highly scalable than other conventional treatment options. Hyekang believes
that science and technology can fulfill the unmet needs of those suffering from
mental disorders.
WELT has currently
received up to $12 million of investment, which include investors like Samsung
and Handok (#1 Neuroscience Pharma in Korea). WELT also co-chairs the APAC
group of Digital Therapeutics Alliance. The company has received 2 IND
approvals from the MFDS and also holds 11 registered patents and 18 pending.