SEOUL -- Standigm, a workflow artificial intelligence-based drug discovery company, has secured $10 million investment from Pavilion Capital, a Singapore-based investment institution. The investment to be used for the clinical research of AI-driven drug compounds raised expectations for the startup's successful stock market debut.
Pavilion Capital pursues investments across different sectors, particularly in innovative technology and healthcare. "I was impressed by the deep understanding in AI-based drug discovery that Pavilion Capital showed during the assessment process," Standigm CEO Kim Jin-han said in a statement on July 6. "This investment will drive us towards the many trade opportunities to introduce our assets to the global market."
Founded in 2015, Standigm's growth potential has been acknowledged among pharmaceutical companies and secured a series of investments from investors including SK Inc., the holding company of South Korea's SK Group. The startup has generated tens of drug candidates for cancers, Parkinson’s disease, autism, fatty liver diseases.
"Investment from Pavilion Capital, which has had successful investment experiences in global AI drug discovery companies, means that Standigm is being recognized globally for its excellent and unique AI technology encompassing the entire drug discovery process and its growth potential," an NH Investment & Securities official in charge of Standigm's initial public offering was quoted as saying.
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