In a notable development for the Indian tech scene, Peptris Technologies has brought in $1 million in funds, riding on the growing wave of AI applications in the drug discovery arena.
In Brief
The emerging AI drug discovery firm, Peptris Technologies, has garnered $1 million in a pre-seed funding round, spearheaded by the venture capital firm Speciale Invest, with the aim of streamlining drug development processes.
Indian AI drug discovery startup Peptris Technologies In a significant funding round, Peptris Technologies successfully secured $1 million, led by Speciale Invest—a venture capital firm focused on deep tech innovations.
Peptris Technologies, founded in 2019 by a team of visionaries including Shridhar Narayanan, Venkatasubramanian, Anand Budni, and Amit Mahajan, has developed a platform utilizing sophisticated algorithms. AI algorithms This platform excels at navigating extensive chemical databases, quickly pinpointing potential drug candidates that could lead to breakthrough treatments.
The funds raised will allow Peptris to leverage AI's capabilities to hasten the development of new medications, primarily targeting areas like oncology, inflammatory conditions, and rare illnesses.
Venkatasubramanian, the CEO and co-founder, expressed his excitement about the investment from Speciale Invest, emphasizing its importance in accelerating their AI-driven drug discovery pipeline and expanding their portfolio of candidates.
He elaborated that this support from Speciale Invest will significantly impact Peptris by enhancing their drug pipeline and refining their technological platform, offering hope for more accessible medical treatments.
Peptris identifies escalating drug discovery costs as a significant challenge in the industry, estimating that the price tag for bringing a new drug to market now surpasses $2 billion, with approximately 90% of candidates failing in clinical trials, driving expenses higher. pharmaceutical AI optimization is proving essential in an industry where traditional drug discovery methods are notoriously time-consuming and costly.
Peptris is broadening its research to include rare diseases, while continuing its focus on oncology and inflammation. The integration of AI is especially important in tackling rare conditions that currently have no approved therapies.
Funding Surge for AI-Driven Drug Discovery Startups AI in drug discovery Experts in the field anticipate that the integration of AI in drug discovery could revolutionize the process, significantly reducing costs. Market analysts at Bekryl have projected potential savings exceeding billions by 2028 due to AI adoption.
The current year of 2023 is already showcasing strong growth in this area. In July, London-based startup Causaly secured $60 million in a Series B funding round, designed to advance its research capabilities and expand its workforce.
In August, a new venture called EvolutionaryScale, launched by former Meta researchers who created an AI model specifically tailored for biology, raised at least $40 million to boost its drug discovery research further. $70 billion That same month, Genesis Therapeutics, based in the U.S., raised $200 million in Series B funding as it focuses on leveraging AI to promote the development of small-molecule therapies, preparing to transition into clinical trials.
Moreover, a substantial round of $273 million in Series C funding was secured by an emerging firm, backed by Nvidia and Amgen, which aims to bolster its drug development pipeline targeting diverse disease categories like cancer and infectious diseases.
Looking ahead to 2024, the AI drug discovery landscape may witness significant breakthroughs as key players secure funding to drive their research endeavors. AI language model These initiatives aim to harness AI technology to speed up drug development processes, focusing on essential medical challenges and offering a promising outlook. The influx of funding into these innovative ventures signals a pivotal moment for the convergence of AI and pharmaceuticals, which could yield remarkable advancements in drug discovery and treatment methodologies.
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Likewise in September, Generate: Biomedicines Kumar is a seasoned Tech Journalist specialized in the evolving intersections of AI/ML, marketing technologies, and emerging sectors like crypto, blockchain, and NFTs. With over three years of industry experience, Kumar has built a reputation for creating engaging narratives, conducting insightful interviews, and delivering thorough analysis. His expertise lies in generating impactful content, including articles, reports, and research publications for leading industry platforms. By blending technical understanding with storytelling skills, Kumar effectively communicates complex technological ideas to a variety of audiences in an approachable and captivating way.
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