S Korean drug discovery platform Standigm raises $11.5m Series B led by Mirae Asset

Photo: Reuters

Seoul-based Standigm, a drug discovery and development platform that uses artificial intelligence, has raised $11.5 million in a Series B financing round led by Mirae Asset Venture Investment and Mirae Asset Capital.

This round takes the total financing raised by the company to $15 million.

DSC Investment, Wonik Investment Partners and existing investors Atinum Investment, LB Investment and Kakao Ventures, an early stage venture capital arm of Daum Kakao Corp, also joined the round.

Standigm covers a range of drug discovery processes from pre-clinical research to FDA review and safety monitoring with the help of AI technology.

The company will deploy the proceeds to scale the AI technology platforms and advance its drug discovery pipelines.

“We demonstrated in vitro and in vivo data of our repurposing drug candidates,” said Jinhan Kim, CEO and co-founder in Standigm.

“We will create partnerships with leading healthcare organisations to accelerate this mission and bolster our pipelines.”

Founded in 2015, Standigm offers lead optimisation, novel target analysis, and new indication prediction services to pharma companies. Its pre-clinical pipeline covers NASH, Parkinsons, autism, and mitochondrial diseases.

Standigm raised its seed stage investment from Korea Tech Incubator Program in 2015 and followed it by a seed stage round a year later from Kakao Ventures (previously known as K-Cube Ventures).

The round was followed by $3 million investment raised in 2016 from Kakao Ventures, LB Investment and Atinum Investment.

Also Read:

Korea’s SK Holdings invests $300m in US natural gas firm Blue Racer

True Incube joins Korea Venture, LINE Games to set up PE fund

Korea’s Woongjin to buy additional Coway shares from GIC for $266m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.