Mytide Therapeutics Raises $7 Million Series A Round to Transform Peptide Manufacturing with Machine Learning
— Biotech ecosystem company Alloy Therapeutics leads the round, joined by Uncommon Denominator and Mytide founders —
BOSTON--(BUSINESS WIRE)--Mytide Therapeutics, a company transforming peptide manufacturing with predictive analytics and machine learning, has raised $7 million in Series A financing. The round was led by Alloy Therapeutics, a biotechnology ecosystem company, and was joined by Uncommon Denominator and the Mytide founding team. As part of the financing, Alloy Therapeutics CEO Errik Anderson will join Mytide’s Board of Directors. This financing will allow Mytide to scale its AI-enabled Gen2 platform to support cost-effective, scalable, and decentralized manufacturing for a wide-variety of peptide and peptide conjugate applications for therapeutic discovery and personal peptide vaccines (PPV).
Mytide’s Gen2 platform produces both natural and non-natural peptides 30-times faster than traditional manufacturing practices by eliminating bottlenecks throughout the entire process of synthesis, analysis, purification, and lyophilization. Through rigorous in-process data collection, Mytide’s continuously learning AI-guided engine enables higher purity, production reliability, and speed, by controlling a proprietary set of chemical processes, analytical tools, and robotics. These tools enable access to a novel peptide space including difficult-to-manufacture non-canonical amino acids, constrained peptides, and short-proteins that are inaccessible or uneconomical to produce and screen using traditional peptide manufacturing processes.
Mytide’s robust data capture and processing techniques represents one of the largest and fastest growing peptide manufacturing data repositories in the world. Through unparalleled manufacturing speed and precision, Mytide’s technology has addressed the high-throughput screening and library generation needs of computational biology modeling to support in vivo and in vitro studies, as well as clinical trial studies.
“At Mytide, we aim to overcome the time-consuming and labor-intensive organic chemistry processes limiting peptide and other biopolymer production. Our goal is to speed drug developers’ ability to translate therapeutic innovations into clinical impact,” said Mytide co-founder Dale Thomas. “Our platform takes a holistic view of the entire manufacturing process and couples it with a fully closed-loop computational biology platform, unlocking therapeutic development at unprecedented speeds and precision. The investment from Alloy Therapeutics brings our quick-turn manufacturing technology into a broad drug discovery ecosystem to further accelerate the development of new peptide therapeutics.”
Peptides are a high growth drug discovery modality of interest within the pharma industry, with multiple PPVs in Phase III clinical trials. To validate its technology, Mytide has actively partnered its continuous manufacturing platform with pharmaceutical companies requiring scalable and time-sensitive manufacturing for both research and clinical programs. Mytide’s Gen2 platform is designed to easily be integrated into cGMP manufacturing environments to allow for scalable and decentralized clinical trial manufacturing of a partner’s lead peptide-based therapeutic candidates. Mytide continues to advance upon the progress in molecular access and analysis being made by the likes of Integrated DNA Technologies (IDT), Illumina, and Thermo Fisher Scientific.
“Mytide represents an exciting opportunity to bring down barriers in drug development further, by providing Alloy’s ecosystem of industry partners with access to high-quality, AI-enabled peptide manufacturing,” said Errik Anderson, Alloy Therapeutics CEO and founder. “Together, we are excited to empower developers of peptide and combination therapeutics and enable rapid innovation in this promising modality, for the ultimate benefit of patients.”
About Mytide Therapeutics:
Mytide Therapeutics is a Boston, MA based peptide and biopolymer manufacturing and computational biology company focused on eliminating the time-consuming and labor-intensive chemical and screening processes preventing innovative therapeutics’ translation into the clinic. Mytide’s quick-turn manufacturing technology, coupled with AI-enabled predictive analytics, is providing access to a novel peptide space of difficult-to-make natural and non-natural peptide and peptide conjugates discovery and therapeutic manufacturing. The company is focused on the translation of life-saving therapeutics for serious conditions ranging from metabolic conditions to oncology to inflammatory disorders to infectious diseases.
About Alloy Therapeutics
Alloy Therapeutics is a biotechnology ecosystem company empowering the global scientific community to make better medicines together. Through a community of partners across academia, biotech, and the largest biopharma, Alloy democratizes access to tools, technologies, services, and company creation capabilities that are foundational for discovering and developing therapeutic biologics. Alloy’s foundational technology, the ATX-Gx™, is a human therapeutic antibody discovery platform consisting of a growing suite of proprietary transgenic mice strains. Alloy is a leader in bispecific antibody discovery and engineering services, utilizing its proprietary ATX-CLC common light chain platform integrating novel transgenic mice and phage display. DeepImmune™ integrates Alloy's full complement of proprietary in vivo, in vitro, and in silico discovery and optimization technologies into one comprehensive offering for fully human antibody, bispecific, and TCR discovery. DeepImmune is also available for royalty-free access as part of Alloy’s novel Innovation Subscription model. Alloy is headquartered in Boston, MA with labs in Cambridge, UK; Basel, CH; San Francisco, CA; and Athens, GA. As a reflection of Alloy’s relentless commitment to the scientific community, Alloy reinvests 100% of its revenue in innovation and access to innovation.