Persist AI, an AI-driven pioneer in drug formulation, has successfully raised $4 million in a seed financing round. Led by 2048 Ventures, with the participation of Innospark Ventures, Fellows Fund, Pioneer Fund, Y Combinator, Jovono, and others, this oversubscribed funding round marks a major fundraising milestone for Persist AI. The company's innovative approach aims to revolutionize the drug formulation process, ultimately benefiting patients worldwide.
What is Persist AI?
Persist AI specializes in building and optimizing long-acting injectable formulations. By leveraging AI-driven automation, the company offers high-throughput formulation screening, automated drug release testing, method transfer, and manufacturing scale-up. This comprehensive suite of services addresses crucial challenges faced by drug manufacturers, such as drug clearance in the body, formulation instability, acute toxicity, and shelf life. Our groundbreaking solutions significantly reduce the time and effort required for developing long-lasting drug formulations.
Persist AI was founded in Fall of 2022 by co-founders Christopher Shelner and Karthik Raman who previously worked together on the automation team at Zymergen to develop automation workflows for synthetic biology. Karthik has a PhD in bioengineering, focused on drug delivery and Chris has a graduate degree in mechanical engineering and a long career in program management.
Impact on Drug Formulation
Traditionally, pharmaceutical companies have taken up to five years to develop long-lasting drug injections for chronic conditions like cancer and diabetes. However, Persist AI's approach has the potential to revolutionize the industry by slashing formulation development time by 50% - down to just two years. This significant reduction in time and resources will have a profound impact on the efficiency and effectiveness of drug development, ultimately benefiting patients worldwide.
“Making long-lasting injections takes years. We’re reducing pre-clinical development time to weeks by utilizing custom robotics to build our own data set, and training AI on the intricacies of the process of making injections.”
Karthik Raman, CEO of Persist AI
Future Prospects
With the successful completion of Y Combinator, the prestigious San Francisco-based startup accelerator, Persist AI is well-positioned to disrupt the biotech industry further. The seed financing will provide the necessary resources to fuel scientific advancements, attract top talent, and expand the company's reach.
For more information about Persist AI and our services, please visit our website at Persist AI.
See our Press Release here.