Persist AI, a trailblazer in AI-driven drug formulation, has successfully raised $4 million in a seed financing round after completing YCombinator, a prestigious startup accelerator in San Francisco. The oversubscribed funding round was led by 2048 Ventures, with participation from Innospark Ventures, Fellows Fund, YCombinator, Pioneer Fund, and other investors.
In the pharmaceutical industry, it typically takes up to five years to develop long-lasting drug injections for treating chronic conditions like cancer and diabetes. However, Persist AI has leveraged AI-driven automation to revolutionize this process, slashing formulation development time by an astonishing 50%, reducing it to just two years. CEO Karthik Raman proudly stated, “We complete microsphere pre-formulation for clients in weeks, not years.”
In the past six months, Persist AI has developed state-of-the-art robotics that enable the automated development of long-acting injectable formulations. By combining these robotics with AI models, they can rapidly predict which formulations will release drugs in the body for an extended period, ultimately reducing the number of injections patients need.
The innovative technology offered by Persist AI has brought much-needed attention to drug formulation, which has historically been an overlooked aspect of drug development. The company’s technology allows for the swift screening of formulations, the development of AI models to optimize these formulations, and the scaling up of formulations for human clinical use. This groundbreaking approach to drug formulation has garnered significant interest from investors and the industry alike.
Alex Iskold, Managing Partner of 2048 Ventures, expressed excitement in investing in Persist AI’s groundbreaking technology, recognizing its potential to reshape drug development. Similarly, Matt Fates, Partner at Innospark Ventures, acknowledged the immense promise of Persist AI’s AI-driven technology in revolutionizing therapeutic formulations, underscoring their commitment to supporting the company’s vision and contributing to its success.
With Persist AI’s disruptive approach to drug formulation, the future of drug development looks promising, as it addresses critical challenges in the industry and paves the way for more efficient and optimized therapeutics in various domains.
