SAN FRANCISCO, 4 AUGUST 2023 – Persist AI, the AI-driven medication formulation pioneer, announced the completion of an oversubscribed USD 4 million financing round following their completion of YCombinator, the famed San Francisco-based startup accelerator. 2048 Ventures led the round, with participation from Innospark Ventures, Fellows Fund, YCombinator, Pioneer Fund, and others.
It can take up to five years for pharmaceutical companies to develop long-lasting medication injections to treat chronic illnesses like cancer and diabetes. Enter Persist uses AI-driven automation to cut formulation development time in half to just two years. “We complete microsphere pre-formulation for clients in weeks, not years,” CEO Karthik Raman explained.”
Persist AI has spent the last six months developing cutting-edge robots that enable the automatic generation of long-acting injectable formulations. Combined with AI models, they can forecast which formulations will keep medications in the body for an extended period, reducing the number of injections required by patients.
“Despite being an important part of drug development, drug formulation has long been overlooked.” Persist’s technology enables them to evaluate formulations quickly, construct AI models that optimize them, and then scale up formulations for human clinical use. “We’re thrilled to be investing in this game-changing technology,” said Alex Iskold, Managing Partner of 2048 Ventures.
“Persist AI’s disruptive approach to drug formulation holds immense promise for the future of drug development.” Their AI-powered technology will change how we generate and optimize pharmaceutical formulations. “We are honored to be a part of their vision and success,” stated Matt Fates, Partner at Innospark Ventures.
Persist AI specializes in developing and optimizing long-acting injectable formulations, with services including high-throughput formulation screening, automated drug release testing, technique transfer, and manufacturing scale-up. This assists medication producers in resolving issues such as drug clearance in the body, formulation instability, acute toxicity, shelf life, and other drug formulation-related issues.
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