On October 16, 2024 AIGEN Sciences reported that it has successfully attracted 12 billion won in investment.
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This investment was participated by existing investors Partners Investment, Quad Asset Management, and Medytox Venture Investment, as well as new investors Premier Partners, K2 Investment, and Scaleup Partners.
AizenScience is an AI drug development venture founded in April 2021, leveraging the technological prowess of Professor Kang Jae-woo’s research team at Korea University, which won seven international competitions in biomedical AI. Utilizing its proprietary AI drug development platform, AizenScience aims to rapidly and efficiently develop small-molecule synthetic drugs for intractable diseases with high unmet needs. The company has established a pipeline comprised of lead optimization and preclinical candidate stages.
Additionally, the company has partnered with major domestic pharmaceutical companies, including Yuhan Corporation, and is conducting joint research, including the discovery of new antibody-drug conjugate (ADC) payloads.
Recently, Eisen announced that its "Meerkat" Large Language Model (LLM), jointly developed with Korea University and Imperial College, achieved a score of 85.8 on the United States Medical Licensing Examination (USMLE), surpassing OpenAI’s GPT-4. The company is commercializing its LLM-based new drug development process as an integrated AI platform, while also conducting research to improve drug efficacy prediction and design usability.
Kang Jae-woo, CEO of Aizen Science, stated, "This investment is a significant achievement amidst the global economic downturn and shrinking investment in the biotech industry. Through this investment, we will secure differentiated competitiveness in AI-based new drug development and accelerate pipeline development." He also stated, "Through our LLM-based AI search engine technology, we will enhance the efficiency of the new drug development process and strengthen collaborations with global pharmaceutical companies."
(Press release, AIGEN Sciences, OCT 16, 2024, View Source;wr_id=52 [SID1234661231])