LONDON, UK: DeepMatter Group (AIM: DMTR), the international digital chemistry data company, has signed a licensing and collaboration agreement with Standigm Inc., a leading workflow artificial intelligence (AI) drug discovery company, based in South Korea with an increasing international footprint.
The first stage of the agreement is expected to generate revenues of £233,000. The Group is now actively working towards broadening the scope of the agreement in the three-year term.
DeepMatter will provide access to its proprietary data and algorithms via its unique data and laboratory integration platform. This will enable Standigm to be more efficient and productive in its drug discovery programmes through deeper data insights and analysis.
DeepMatter and Standigm will collaborate to develop further AI-driven drug discovery capabilities, drawing upon the Group’s deep digital chemistry expertise.
Mark Warne, CEO of DeepMatter, commented: “This is a strategically important development for us, delivering the first step in what we anticipate will be a productive and long-term partnership. This is also the first major contract for our integrated platform which provides a combination of proprietary data, algorithms and laboratory hardware integration.”
“We are delighted that Standigm, as a leading AI-driven drug discovery company, will be our first partner in East Asia, one of the world’s largest Pharma markets.”
Jinhan Kim, co-founder, and CEO of Standigm: “We are delighted to be collaborating with DeepMatter, drawing upon their digital chemistry expertise and market-leading products, as we progress our AI-driven drug discovery strategy to bring new drugs to market faster and more cost-effectively.”
Hanjo Kim, SVP of Global Strategy, Head of Medicinal Chemistry, Standigm, commented: “Standigm established its synthetic chemistry lab last year and is doing the research of AI technology in the organic synthesis area. Digitalization of chemistry is one of the most important aspects of this research because it helps synthesise and evaluate new drug candidates rapidly and secure the high-quality time series data of various organic reactions.”
“We have tested a number of products in the market for this purpose and have chosen DeepMatter as they have the best performing products for our needs.”
Standigm is a workflow AI-driven drug discovery company headquartered in Seoul, South Korea, with subsidiaries in Cambridge, UK, and Cambridge, MA, USA. Standigm has proprietary AI platforms encompassing novel target identification to lead generation to generate commercially valuable drug pipelines.