Veteran biotech and pharmaceutical executives help increase company growth and international impact
Seoul, South Korea, August 18, 2022 /PR Newswire/ — Standigum Co., Ltd. (“Standigm”), a leading workflow artificial intelligence (AI) drug discovery company, today announced the appointment of a Chief Business Officer. Karl FosterBased in the US office, Foster will be responsible for expanding strategic partnerships for new drug target discovery and best-in-class lead candidate identification.
“Karl has a reputation for driving corporate value. He has significant experience building and growing biotech companies like Standigm through creative deals.” Kim Jin-han, CEO of Standigm. “We are confident that Karl will help us reach our aggressive goals.”
Foster has over 30 years of experience working with pharmaceutical and platform technology companies in a variety of fields including genomics, proteomics and antibodies. Throughout his career, he has developed a strong track record in business planning, establishing strategic relationships, and financial modeling.
Foster began his career at Merck and Co., Inc., where he spent nine years in business development, marketing and sales. Most recently, he served as Executive Vice President of Business Development at Cempra Pharmaceuticals. Prior to that, he was CEO of Jurilab, a European-based genomics company. Foster has also held Vice President-level positions at Nanogen, King Pharmaceuticals, Oxford GlycoSciences, and He Praecis Pharmaceuticals. Additionally, he was General Manager of his Intracel BV. Netherlandsbased immunology company and managing director of Ferghana Partners New YorkAn investment banking group based in Foster holds his MBA in Marketing and his MS in Biochemistry. University of Kansas.
“Our goal is to combine the Standigm AI platform with disease-specific data from strategic partners to shorten the drug discovery process, reduce costs, and increase the likelihood of success,” said Foster. says. “We believe that combining AI and drug discovery will greatly advance the way we understand disease and create solutions. I have the support and these teams working together to create a great opportunity for me, and I look forward to helping them build a transformative and industry-leading company.”
So far, Standigm has the following features:
- rise about $71.2 million It is funded by multiple investors, including Pavilion Capital, which has successes in AI drug discovery such as Schrödinger and Insilico Medicine.
- In 2021, we have expanded our operations globally with the opening of offices in the US and UK.
- Established Synthetic Research Center to improve the efficiency of AI drug discovery.
- Proven technology competitiveness in multiple partnerships with pharmaceutical companies and research institutes AsiaUSA and EuropeSK Chemicals, Hanmi Pharmaceuticals, Milner Therapeutic Research Institute, etc.
- Established confidential relationships with major European pharmaceutical companies, US biotech companies and US research institutes.
- It has generated strong preclinical opportunities in multiple disease areas including Parkinson’s disease, autism, mitochondrial diseases and NASH.
- We have further strengthened our AI drug discovery capabilities by working with global companies such as Merck KGaA, Oracle, and Deepmatter.
The Standigm AI platform is being used for both drug discovery and repurposing. The latter speeds time-to-market and reduces costs because the drug has been commercialized or has demonstrated some degree of stability in clinical trials.
About Standigum
Standigm is a workflow AI-driven drug discovery company headquartered in the United States. Seoul, South Korea Subsidiary Cambridge, UK When Cambridge, Massachusetts. Standigm has a proprietary AI platform that spans from novel target identification to compound design to generate a commercially viable drug pipeline. Founded in 2015, Standigm has established early-stage drug discovery workflow AI, producing multiple first-in-class compounds within an average of seven months. Standigm has pursued full-stack, AI-driven industrialized drug discovery and achieved automation of molecular design workflows. Automation efforts are expanding across the drug discovery process based on the Standigm AI platform, including Standigm ASK™ for new target discovery. Standigm BEST™ for new compound generation and Standigm Insight™ for new indications. For more information, please visit http://www.standigm.com.
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Katie Morales [email protected]
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