Peptilogics, a Pittsburgh, PA-based clinical-stage biotechnology company, closed a $35.4m Series B financing.
The round was led by Presight Capital, with participation from a new investor syndicate including Founders Fund as well as from existing investor Peter Thiel.
The company intends to use the funds to expand its computational platform and invest in technologies to improve its drug design engine, as well as accelerate development of a pipeline of peptide therapeutics including the lead clinical asset, PLG0206, which has demonstrated first-in-class safety and best-in-class efficacy.
Led by Jonathan Steckbeck, PhD, MBA, Founder and CEO, Peptilogics combines proven drug development expertise with proprietary artificial intelligence (AI) and machine learning methods to find connections among diverse biomedical data from across the entire drug development spectrum to map a new universe of peptide sequences. The company’s platform then generates novel, optimized therapeutics that align with a desired target drug profile and which are specifically engineered to treat diseases from diverse indications.
Peptilogics’ lead clinical stage peptide therapeutic, PLG0206, is a novel, broad-spectrum anti-infective that has been granted FDA Orphan Drug Designation and Qualified Infectious Disease Product Designation for its initial focus on the treatment of prosthetic joint infections, an unmet medical need.