SEOUL– On November 20th, S-Alpha Therapeutics (“S-Alpha” Seung Eun Choi, CEO), a digital therapeutics startup, completed a $2.7 Million USD (3 Billion KRW) seed round of funding from Hana Ventures, STIC Ventures, AJU IB Investment, SJ Investment Partners, and TONY Investment. This seed round follows an initial strategic investment from LegoChem Biosciences in February 2020.
Hana Ventures led the seed round funding with the expectation of high growth in the digital therapeutics market. The company intends to use funds to execute clinical trials in the US to study their development stage digital therapeutic application intended to treat eye disease.
Dr. Myung Joon Kim, Chief Medical Officer at S-Alpha, leading the team to secure proprietary technologies for the discovery and development of the pipeline and internalization of the technology, commented, “The fact that S-Alpha consists of specialists from various areas including domestic and international clinical experts, biochemistry experts, and software application development experts, collaborating to develop digital therapeutics was highly valued by the investors. S-Alpha will continue its effort to develop cutting-edge digital therapeutics in several disease areas”.
