SEOUL, KOREA – May 30, 2017 - CrystalGenomics, Inc. (KOSDAQ: 083790) and Standigm, Inc., today announced the collaborative partnership to apply Artificial Intelligence (AI) to the research and development of novel drugs.
Under the agreement, both parties plan to work together by combining the power of Standigm’s AI technology with CrystalGenomics’ pharmaceutical expertise with a goal to discover and develop novel drugs in the therapeutic area of cancer, rheumatoid arthritis and liver related diseases.
Standigm is on the forefront of technological advancement in the deep learning AI platform and is a leading company for utilizing this technology within the field of pharmaceuticals.
As the most important industry in the upcoming 4th industrial revolution, AI is expected to play a crucial role in causing a ground breaking, revolutionary change in the pharmaceutical industry. The novel drug R&D has been a high-risk & high-return industry requiring an average of 10 years and about 3 billion dollars in R&D costs, per drug. However, with the utilization of the deep learning AI technology, an immense amount of data can be searched and analyzed at superhuman speed and accuracy so that the most suitable drug candidates can be discovered quickly, drastically reducing the time and cost of drug R&D. Additionally, the success probability of clinical studies can be markedly increased. Futurologists anticipate that the merger of AI and structure-based drug design (SBDD) platform technologies will lead to a revolutionary change in the pharmaceutical industry, comparable to when the means of human transportation had changed from horse-drawn carriages to automobiles, reinvigorating the drug R&D industry by filling R&D pipelines with novel drug candidates derived from deep learning with the potential for extraordinary change in the overall business paradigm of novel drug R&D.
CrystalGenomics, through its collaboration with Standigm, plans to become a pioneer company utilizing the new innovative technology encompassing both AI and SBDD, while engaging in diverse open innovation opportunities.
A CrystalGenomics’s a senior executive stated, “Through the Standigm collaboration, we believe that both companies will become globally competitive in novel drug R&D with synergies between CrystalGenomics’ SBDD and Standigm’s AI platform technologies.”
About CrystalGenomics
CrystalGenomics Inc. is a commercial stage biopharmaceutical company focused in the discovery and development of novel drugs in therapeutic areas of unmet medical needs including inflammation, oncology, and infectious disease. For more information, please visit: www.cgxinc.com.
Media Contact:
Steven Kim
CrystalGenomics, Inc
. skim@cgxinc.com
