Seoul, South Korea – (COMMERCIAL THREAD) – July 31st 2021, S-Alpha Therapeutics, Inc., (CEO (“S-Alpha”: Seung-Eun Choi), a startup dedicated to R&D for digital therapies, announced the completion of its Series A funding.
S-Alpha Therapeutics has raised a total of US $ 8.7 million (KRW 10 billion) in a Series A financing round with the participation of existing investors and a new equity financing. risky (VC).
In 2020, S-Alpha Therapeutics raised US $ 2.7 million (KRW 3 billion) in a seed funding round from Hana Ventures, STIC Ventures, AJU IB Investment, SJ Investment Partners and TONY Investment . In the Series A financing, all existing investors participated in this investment, and Korea Investment Partners, Stonebridge Ventures, Devsisters Ventures / KDB Capital and Timewise Investment participated as new investors.
“The convergence of information technology (IT) and biotechnology is an inevitable trend in the industry. Investment in this industry is the driving force for rapid product development, verification of new concepts and enhances the development of disruptive technologies. It also provides the resources and infrastructure to validate the safety as well as the effectiveness of the product, ”said STIC Ventures, who led this investment.
Dr Yong-Sun Lee, Strategy Director of S-Alpha Therapeutics, said, “With this investment, we plan to develop and validate SAT-001, the leading product in the treatment of pediatric myopia, through clinical trials in Korea and the United States. S-Alpha Therapeutics will also use this fund to complete the verification of SAT-008 and support R&D efforts to validate the concept in new pathological areas of our pipeline.
About S-Alpha Therapeutics, Inc.
Founded in 2019, S-Alpha Therapeutics develops digital therapeutics, a therapeutic intervention resulting from the convergence of biology and information technologies. The company has developed several digital therapeutic products in its R&D pipeline.
Currently, the company is conducting clinical trials to assess the efficacy, safety and feasibility of SAT-001 at several clinical sites in South Korea.
Among the company’s pipelines, SAT-008, developed with the aim of inducing an immune-boosting effect in an individual, is establishing a business development model based on evidence generated from clinical studies in South Korea. . In addition, S-Alpha Therapeutics is in the process of developing other products under development.