Pepticom Raises $5 Million in Series A Funding
Jerusalem-based startup uses AI to accelerate drug discovery
JERUSALEM, Oct. 24, 2019 /PRNewswire/ -- Pepticom, a leader in artificial intelligence peptide drug discovery, announced today that it has secured $5 million in Series A funding from the Chartered Group.
Pepticom's unique artificial intelligence (AI) technology streamlines and significantly accelerates the ability of researchers to discover advanced peptide-based drug candidates. Peptides are used in various therapies, and are recognized for being highly selective and efficacious as well as relatively safe. The pharma industry has recently shown an increased interest in peptide research and development, leading to a resurgence of peptide drug candidates. The process of discovering new peptides with lifesaving potential, however, is still costly and time consuming. Pepticom's AI technology enables the discovery of the most advanced peptide-based drug candidates by searching an enormous set of possible solutions, vastly reducing the risk of failure during development.
Pepticom's technology covers a chemical-space of 1030 possible molecular options - which is much larger than current screening techniques - while simultaneously filtering out the most suitable candidates with properties such as solubility and permeability amongst others. The ability to search a large amount of variables while considering their pharmacological impact, and also eliminating nonviable molecules at an early stage is groundbreaking in peptide drug discovery. Pepticom's technology brings down the cost of drug discovery in a quick, comprehensive and successful manner.
The Chartered Group's strategic investment will facilitate the development of new AI models to further increase molecular discovery efficacy while reducing risk for the next stages of development. "This $5 million investment by Chartered Group signals confidence in Pepticom's technology and abilities going forward," said Immanuel Lerner, Founder and CEO of Pepticom. "Pepticom already improves discovery time by almost a year, and this investment will further reduce that time and thus improve time to market considerably."
The Chartered Group has previously invested in promising Israeli deep tech companies and has broad networks in Europe, East Asia and Japan. "We made this investment out of our belief in Pepticom's application of AI in peptide drug discovery and the Israeli high-tech industry," said Eyal Agmoni, Chairman of Chartered Group and High Tech division. "Pepticom's unique AI platform allows for multifaceted collaborations, and we are excited to join this company as it revolutionizes peptide drug discovery. The funding will allow the further development of Pepticom's unique technology and specific applications."
"Pepticom's breakthrough technological platform, marrying AI to pharma and biology, is a unique and groundbreaking approach to drug discovery and highlights the deep multi-disciplinary research capabilities of Hebrew University," said Dr. Yaron Daniely, CEO and President of Yissum, the technology transfer company of The Hebrew University. Pepticom is a spin out of Yissum.
Pepticom is a privately held AI company with headquarters in Israel committed to offering AI peptide drug discovery solutions for a better and healthier world. It is the leader in the emerging peptide drugs software solutions, AI and prediction tools that allow research centers, pharma and agriculture companies to accelerate innovative molecules discovery while reducing time, costs and risks. Pepticom operates in various markets; past successful discoveries include peptide molecules related to metabolic diseases and Immuno-modulators. Pepticom was founded in 2011 by a select team of multidisciplinary PhD graduates from The Hebrew University of Jerusalem with technology licensed from Yissum, the technology transfer company of The Hebrew University. http://www.pepticom.com
About Chartered Group
The Chartered Group focuses its business in Europe and Asia, with more than 350 employees in 6 locations around the globe (including Japan, Singapore, Germany, Thailand, Luxembourg and Israel). It's group of companies are organized into four core business segments comprised of Securities, Credit Lending and Real Estate & Hospitality and Technology.
For more information, visit http://www.charteredgroup.com/
Pepticom Operating Location
Hi-Tech Park, Edmond J. Safra Campus
P.O. Box 39142, Jerusalem 9139002 Israel
Logo - https://mma.prnewswire.com/media/1016434/Yissum_logo.jpg
Logo - https://mma.prnewswire.com/media/1016461/Pepticom_logo.jpg
Logo - https://mma.prnewswire.com/media/1016773/The_Chartered_Group_Logo.jpg
Press Contact: Dr. Maayan Elias, Ph.D., MBA, BSc. Pharm - Business Development Officer (BDO)
View original content to download multimedia:http://www.prnewswire.com/news-releases/pepticom-raises-5-million-in-series-a-funding-300944776.html
SOURCE Pepticom; Yissum