S-Alpha Therapeutics, Inc., a startup dedicated in R&D for digital therapeutics, announced the completion of its Series A financing.

S-Alpha Therapeutics raised a total of US $ 8.7M (10 Billion KRW) in Series A financing round with the participation by existing investors and new Venture Capitalist (VC) funding.

In 2020, S-Alpha Therapeutics raised US $ 2.7M USD (3 Billion KRW) in seed round of funding from Hana Ventures, STIC Ventures, AJU IB Investment, SJ Investment Partners, and TONY Investment. In Series A funding, 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 industry trend. The investment in this industry is the driving force for fast product development, verification of new concepts and enhances the development of disruptive technologies. It also provides resources and infrastructure for validating the safety as well as the efficacy of the product” said STIC Ventures, which led this investment.

Dr. Yong-Sun Lee, Chief Strategy Officer from S-Alpha Therapeutics said “With this investment, we plan to develop and validate SAT-001, the leading product in pediatric myopia, through clinical trials in Korea and in US. S-Alpha Therapeutics will also use this fund to complete verification of SAT-008 and support R&D efforts to validate the concept in new disease areas of our pipeline.