Standigm Inc., a Seoul, South Korea-based workflow artificial intelligence (AI) drug discovery company, received an investment from SK Chemicals Co., Ltd., a life science and green chemicals company.
The amount of the deal was not disclosed.
The two companies have signed a strategic partnership contract for collaboration regarding clinical development of Standigm’s AI-driven drug candidate for non-alcoholic steatohepatitis (“NASH”) and the foundation of its Synthesis Research Center within the headquarters of SK Chemicals. This partnership was made in conjunction with SK Chemicals’ participation in Standigm’s pre-IPO round of fundraising.
Under the contract, SK Chemicals will collaborate with Standigm on the clinical development of the NASH drug candidate discovered by Standigm Insight™, an AI-aided drug-repurposing platform, which is expected to enter clinical stage next year. Moreover, Standigm plans to open its Synthesis Research Center in the headquarters of SK Chemicals next month. Standigm will be able to synthesize its AI-driven drug candidates directly and efficiently.
Founded in 2015 and led by Jinhan Kim, CEO, Standigm is a workflow AI-driven drug discovery company with proprietary AI platforms encompassing novel target identification to lead generation to generate commercially valuable drug pipelines. The company has established an early-stage drug discovery workflow AI to generate First-in-Class lead compounds within seven months. To date, Standigm is running 22 in-house or collaborative drug pipelines using the workflow AI technology.
FinSMEs
04/07/2021