Standigm Races AI Rivals To Become Global Discovery Contender
The South Korean AI-driven drug discovery venture is vying with global rivals in the space to show concrete validation of its approaches in partnered projects, while eyeing international expansion and new fundraising, its CEO says.
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Financing for Korean bioventures and pharma firms remained strong this year amid ample liquidity and strong investor sentiment in the sector. SK Bioscience's IPO was the top fundraiser in 2021, followed by HK inno.N’s offering, while GI Innovation raised the most money from venture capital sources.
Private Company Edition: With $8.9bn raised in the second quarter, venture capital investment in biopharma companies reached its second highest quarterly total to date – behind only Q1 of this year. Also, Nimbus Therapeutics raised $105m and European drug developers get in on the VC action.
The hype around Artificial Intelligence has been deafening in recent years, but real progress can only come when drug discovery culture and regulators catch up with the technology.