AI All Bio-HealthCare Funding Startup News in Korea (Korean Startup News)

Syntekabio Secures KRW 10B for AI Drug Development from Korea Investment Partners

2024-04-03 2 min read


Syntekabio Secures KRW 10B for AI Drug Development from Korea Investment Partners

Reading Time: 2 minutes

Syntekabio, a leader in AI-driven drug development based in South Korea, has attracted a significant investment of KRW 10 billion from Korea Investment Partners. This funding arrives as the AI drug development sector gains recognition as a forefront industry in the global pharmaceutical and biotech markets. The investment was largely influenced by Syntekabio’s unique AI platform and its dedicated data center, which underscore the company’s strong potential for future growth.

The company intends to use the investment to build a factory-level platform for generating new drug candidates through AI supercomputing infrastructure. Additionally, Syntekabio plans to develop a Launchpad service to leverage previously identified drug candidates.

Officials from Korea Investment Partners shared that the investment was finalized following months of comprehensive evaluation and due diligence. “After carefully examining the company’s technological capabilities, business model, and plans, we are confident that it has reached a stage where it can start delivering results,” they remarked.

Jong-Sun Jung, CEO of Syntekabio, expressed eagerness to expedite the commercialization process. “With the Launchpad service now ready, we aim to accelerate our path to market. Our automated processes will facilitate faster discovery and development of drug candidates, allowing us to actively pursue business discussions at major upcoming global conferences such as Bio IT World in April, the Protein Engineering Summit (PEGS-BOSTON) in May, and BIO USA in June.”

Syntekabio’s Launchpad service offers a promising approach to significantly reduce the timeline for developing first or best in class drug pipelines for specific diseases by providing companies with pre-discovered compounds. Moreover, the technology enables the identification of promising candidates from a selection of over a hundred targets, ensuring a higher success rate in the discovery of commercially viable substances.

[Korean bioHealth Startups News]

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