S-Alpha Therapeutics, a Seoul, South Korea-based digital therapeutics startup, closed a $2.7M USD (3 Billion KRW) seed round of funding.
Backers included Hana Ventures, STIC Ventures, AJU IB Investment, SJ Investment Partners, and TONY Investment.
The company intends to use funds to execute clinical trials in the US to study their development stage digital therapeutic application intended to treat eye disease.
Led by Seung Eun Choi, CEO, and Dr. Myung Joon Kim, Chief Medical Officer, S-Alpha is a digital therapeutics company with platform technologies that enable digital devices to treat different diseases. S-Alpha has a pipeline of products in the areas of ophthalmology, neuropsychiatry, cancer, and immunology.
Its lead product, SAT-001, is currently in the process of regulatory submission to start clinical studies in Korea as a therapeutic device for treating eye disease following MFDS’s guidance in June 2020.
S-Alpha also completed a successful meeting in July 2020 with the USFDA on developing SAT-001 and is preparing to launch clinical studies in the United States.