Persist AI, a San Francisco-based AI-driven drug formulation startup, has announced the successful closure of an oversubscribed $4 million financing round. The achievement follows the company’s completion of YCombinator, the esteemed San Francisco-based startup accelerator. The funding round was spearheaded by 2048 Ventures, with notable participation from Innospark Ventures, Fellows Fund, YCombinator, Pioneer Fund, and other prominent investors.
Revolutionising drug formulation with AI automation
Traditionally, pharmaceutical companies invest up to five years to develop long-lasting drug injections for treating chronic ailments like cancer and diabetes. In the realm of drug formulation, Persist AI emerges as a trailblazer, harnessing the power of AI-driven automation to slash formulation development time by an astonishing 50%, reducing it to a mere two years. CEO Karthik Raman highlighted the company’s accelerated capabilities, stating, “We complete microsphere pre-formulation for clients in weeks, not years.”
Robotics and AI models
Persist AI’s recent advancements include the creation of cutting-edge robotics, enabling the automated development of long-acting injectable formulations. Complementing these robotics are AI models that swiftly predict which formulations will gradually release drugs within the body, ultimately leading to a decrease in the number of injections patients require. This innovative approach has the potential to reshape drug formulation, enhancing efficiency and patient experience.
Alex Iskold, Managing Partner of 2048 Ventures, underscored the significance of Persist AI’s breakthrough technology in drug development, emphasising, “Persist’s technology allows them to rapidly screen formulations, develop AI models that optimise the formulations, and then scale up formulations for human clinical use.”
Future of drug development
Persist AI’s disruptive approach to drug formulation holds great promise for the future of pharmaceutical development. Their AI-driven technology is poised to revolutionise the optimisation and creation of formulations across therapeutic domains. Innospark Ventures’ Partner, Matt Fates, expressed support for Persist AI’s vision, noting, “We are proud to support their vision and contribute to their success.”
Persist AI specialises in the creation and optimisation of long-acting injectable formulations. Their offerings encompass high-throughput formulation screening, automated drug release testing, method transfer, and manufacturing scale-up. By addressing challenges such as drug clearance, formulation instability, acute toxicity, and shelf life, Persist AI plays a crucial role in advancing drug formulation and enhancing patient outcomes.
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