PsiThera Launches with $47M to Speed Drug Discovery
A new biotechnology start-up called PsiThera has launched with $47 million in Series A funding. To make the life of researchers easy, this powerful computational drug discovery startup was designed, which had the desired funding as well. Roivant Sciences gave the initial backup for the company and continues to do so.
Woody Sherman, the chief innovation officer of the company, is the founder of PsiThera. The company’s core technology, QUAISAR, was developed by Sherman, who was then also working as chief scientific officer at Silicon Therapeutics. When Silicon Therapeutics was won over by Roivant Sciences for $450 million in 2021, Sherman shifted to Roivant and continued to make the QUAISAR platform better as a chief computational scientist. In 2022, Sherman created a Roivant subsidiary named Psivant Therapeutics, which was innovated by Sherman, now known as PsiThera, which was rebranded and is now an independent company.
Before experimenting in the laboratory, scientists use QUAISAR, a computational platform that helps in designing drugs. It allows professionals to create the shapes of proteins, their binding sites, and the relation between drugs and disease at the molecular level. By this, the researchers get to know which molecules are worthy of creating and testing, saving both money and time.
QUAISAR is very easy to use, which makes it unique. Drug developers only need to take a training for a minute or so to start working with the system, according to Sherman. Currently, PsiThera has around 30 people working there, not only computational experts, but also scientists from other backgrounds, who can use QUAISAR.
This platform is a mix of AI, advanced physics, computing, and human knowledge regarding drug discovery. QUAISAR uses physics-based concepts unlike any other random AI-only tools, which helps the scientist get a logical answer to the predictions it makes. Sherman further stated that it goes down to the basic level of how atoms and molecules move and interact in the biological world. Previously working at Schrödinger for 12 years, he gained an understanding of these physics-based computational approaches.
PsiThera has named Eric Shaff, who previously led Seres Therapeutics, as its new chief executive officer. Seres is best known for creating the first pill made from fecal microbiota, used to treat repeat infections caused by Clostridioides difficile.
With Eric Shaff leading the company, PsiThera is working on its first set of drug candidates that target tumor necrosis factor (TNF) proteins. These proteins are important for the immune system and help the body defend itself against infections. However, when TNF activity becomes too high, it can contribute to inflammatory diseases like rheumatoid arthritis and multiple sclerosis.
Shaff sees strong potential in developing small-molecule medicines for inflammatory and immune diseases. Although biologic drugs have worked well, they are often costly and not easily available to all patients. PsiThera wants to turn these advanced treatments into pill-based medicines, so they are simpler to take and more affordable.
With strong financial backing, an experienced leadership team, and a computational platform that is easy for scientists to use, PsiThera is well-positioned to make a real impact on how new medicines are discovered and developed. The company hopes to speed up the drug-making process, reduce costs, and bring better treatment options to patients more efficiently.
