02 April 2019 | News
Standigm will use the funds to scale the AI technology platforms and advance its drug discovery pipelines toward license-out
Standigm, a company using artificial intelligence (AI) technology for drug discovery and development, announced it has raised $11.5 million in a Series B funding round led by Mirae Asset Venture Investment and Mirae Asset Capital.
Standigm will use the funds to scale the AI technology platforms and advance its drug discovery pipelines toward license-out. The new round brings Standigm’s total financing to $15 million.
The round included participation from Kakao Ventures, Atinum Investment, DSC Investment, LB Investment, Wonik Investment Partners, as well as Mirae Asset Venture Investment and Mirae Asset Capital. Kakao Ventures, one of the leading early-stage VCs in Asia, continued to invest Standigm since its seed round.
Kijun Kim, Vice President in Kakao Ventures said, “We have been very impressed with the progress Standigm has made over the past years in global drug discovery market. The feasibility of Standigm AI is already acknowledged among the leading pharmaceutical companies. We are pleased to continue our support. This will allow standigm to broaden its own pipelines.”
Jinhan Kim, CEO and Co-founder in Standigm said, “We demonstrated in vitro and in vivo data of our repurposing drug candidates. This latest round from top investors and innovators in AI and biotechnology fields represents their confidence in our technology to innovate drug discovery process in the pharmaceutical industry. We will create partnerships with leading healthcare organizations to accelerate this mission and bolster our pipelines.”
Standigm has developed preclinical pipelines in four different disease areas: NASH, Parkinson’s disease, Autism, and Mitochondrial diseases.