Drug discovery platform TandemAI announced that it has merged with Perpetual Medicines.
The new company, operating under the TandemAI name, will give partners an expanded range of methods and workflows for both small-molecule and peptide drug discovery.
The new company will be led by TandemAI cofounder and CEO Jeff He. Perpetual Medicines will operate as a separate entity within TandemAI, headed by Dr. Kerry Blanchard, its cofounder, chairman and CEO, and Ved Srivastava, chief scientific officer and financial officer.
TandemAI’s next-generation, cloud-enabled, data-centric, browser-based user interface, TandemViz, expedites easy access to high-performance computation and streamlined data consolidation for drug discovery projects.
Perpetual Medicines is a fully integrated computational peptide therapeutics firm aiming to build a next-generation peptide drug discovery engine.
"TandemAI was established with a vision to transform drug discovery by enabling broad access to the most advanced AI and physics based computational tools for integrated drug discovery," He said in a statement.
"With Perpetual’s integrated computational-synthesis platform and experienced leadership, we have a major opportunity to advance and accelerate peptide drug discovery with partners."
Lanny Sun, cofounder of both Perpetual Medicines and TandemAI, pointed out that Perpetual Medicines has built and validated a computational/AI platform for peptide drug discovery.
"The merger positions TandemAI to be a leader in these approaches as well as to explore their application to other modalities," Sun said in a statement.
THE LARGER TREND
In 2023, TandemAI secured $35 million in Series A funding, led by Qiming Venture Partners, with participation from Eight Roads Ventures, OrbiMed and F Prime Capital.
The company used the funds to expand its platform. In 2021, TandemAI scored $25 million in seed and pre-Series A financing.
That same year, Perpetual Medicines closed an $8 million seed financing to advance its integrated computational design and synthesis platform for peptide drug discovery. Chengwei Capital led the financing round.
