Monday, July 22, 2024
HomeFunding Boston-based Perpetual Medicine Secures $8M in Seed Funding

[Funding alert] Boston-based Perpetual Medicine Secures $8M in Seed Funding

Boston-based perpetual medicine secures $8M in seed funding to advance its integrated computational design and synthesis platform for peptide drug discovery. The financing round was led by Chengwei Capital.

Boston-based perpetual medicine secures $8M in seed funding to advance its integrated computational design and synthesis platform for peptide drug discovery. The financing round was led by Chengwei Capital.

Read also – San Francisco-based Every.io Secures $9.5M in Seed Funding

The company also announced key appointments to its leadership team, including Kerry L. Blanchard, MD, PhD, Co-founder, Chairman and Chief Executive Officer; Ved Srivastava, PhD, Chief Technology Officer; and Xiang Ye, PhD, Chief Scientific Officer.

Dr. Blanchard said, “Perpetual Medicines is capitalizing on recent advances in computational modeling based on artificial intelligence, deep learning and machine learning that enable access for the first time to the enormous, untapped peptide chemical space for drug discovery, We have built an integrated platform that allows us to virtually iterate through millions of peptide sequences using physics-based computations to predict binding and drug-like properties followed by integration with experimental data to discover and optimize product candidates. This approach has the potential to accelerate peptide drug discovery, reduce cost, and increase the quality of drug candidates. With the financing the company will advance our most advanced program to the clinical stage and continue to build our preclinical portfolio of projects in oncology, autoimmunity, and metabolic diseases”.

Perpetual has assembled a highly experienced senior management team, who have collectively accrued more than 120 years of drug hunting experience and have helped lead the development of more than ten marketed peptide-based therapeutics.

The funds will be utilised by the business to develop its platform for integrated computational design and synthesis for peptide drug development.

Read also-  NYC-based Hang Secures $9.2M in Series A Round Funding

The objective of computational peptide therapeutics startup Perpetual Medicines is to create a peptide drug discovery engine. To find the peptide chemical space, its platform integrates artificial intelligence (AI) technology and predictive computational physics methodologies with synthetic chemistry. The technology aims to enhance the quality of peptide drug candidates, speed up discovery, and target hitherto intractable targets.

About Perpetual Medicines

With the goal of developing the next-generation peptide drug discovery engine, Perpetual Medicines is a fully integrated computational peptide therapeutics enterprise.

Read also – NC-based Fintech Firm Quartix Secures $15M Additional Funding

The platform developed by Perpetual Medicines will integrate cutting-edge computational physics techniques, including as FEP, quantum chemistry, and MD modelling, with next-generation artificial intelligence technologies to predict a wide range of peptide properties with exceptional precision.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular