Perceptic Exits Stealth With $12M Seed for AI Drug Discovery

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Perceptic, a startup building an end-to-end AI platform for drug development, has emerged from stealth with a $12 million Seed round. London-based Accel led the financing, alongside Air Street Capital and Elder Gull.

The company was founded by a trio of former Palantir executives who helped build that company’s life sciences practice. Their platform handles everything from drug discovery to clinical trial design, with the goal of automating and speeding up the process for large pharmaceutical companies.

Perceptic is targeting three areas of pharma research and development. The first is scouting external assets that biotech companies have developed and that big pharma looks to license, with the system compressing the scientific due diligence needed to assess drug candidates from weeks down to hours. The second is helping pharma companies decide which indications to pursue in clinical trials. The third is building a data foundation for clinical trial design, which the company says has produced a fifty-fold increase in clinical data extractions.

The company says its software is already in use at multiple top-tier pharmaceutical companies, though the only one it was permitted to name is CSL, the Australian biotechnology firm.