There seems to be a new kid on the peptide discovery block.
A group of retrenched scientists from GSK have banded together to form a startup company which will focus on “the discovery of high-potency, peptidase-resistant peptide therapeutics with high druggability”. Phoundry Pharma will be based in North Carolina.
The company founders seem happy to tell the world that they have successfully raised $1 million to advance their peptide discovery and development plans and say they have already attracted well-advanced partnering interest.
Though achieving very much on just $1 million seems implausible (especially considering the rate at which PYC spends it), the company founders do have a fairly impressive track record – eight drug products, including exenatide, pramlintide and three other peptide therapeutics, as well as over two dozen phase 2 clinical-stage assets. The Phoundry Pharma scientists claim that they can make their peptide drugs work better.
According to the press release Peptides… have been historically difficult to discover with the necessary pharmaceutical properties. Phoundry's highly specialized discovery expertise addresses this limitation to create new peptide product opportunities.
Perhaps all good publicity for peptide therapeutics. It’s noted that peptides represent high-value therapeutic candidates for a wide range of challenging diseases and that with the 60 or so peptide drugs currently on the market representing just 2% of the market, there’s plenty of room for the market to grow.
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