Perceptic, founded by former Palantir executives, is building an end-to-end AI platform for drug development. The platform aims to automate and speed drug discovery through clinical trial design for Big Pharma companies. The company emerged from stealth and announced a $12 million seed funding round led by Accel, with participation from Air Street Capital and Elder Gull. The post-round valuation was not disclosed. Perceptic said its software is already used by multiple top-tier pharmaceutical companies, though only CSL was named. The startup positions itself against a crowded field of AI drug discovery companies that have focused on single steps rather than the full process.
"Perceptic is building an end-to-end AI platform for drug development, handling everything from drug discovery to clinical trial design. The company emerged from stealth today and announced a $12 million seed funding round. London-based venture capital firm Accel led the funding round, alongside Air Street Capital and Elder Gull. The company's valuation following the funding round was not disclosed."
"Perceptic said its software is already being used by multiple top-tier pharmaceutical companies, though it was only allowed to name CSL, the Australian biotechnology company. In the past two years, numerous startups have sprung up to use AI to speed drug discovery. This includes Isomorphic, a spin out from Google DeepMind, robotic lab pioneer Recursion, Insilico Medicine, and many others."
"But so far, no AI-discovered drugs have made it all the way through human clinical trials and been approved for sale, leading some to question whether AI is living up to the hype around revolutionizing drug development. Tilman Flock, Perceptic's cofounder and CEO, is a bioscience researcher who spent nearly seven years at Palantir, building the company's commercial AI platform and helping life sciences companies use it."
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