Peptyde Bio Closes Oversubscribed Pre-Seed Round
Startup attracts capital from growing St. Louis investor community
St. Louis, MO (November 15, 2022) - Peptyde Bio Inc. announced that it has closed an oversubscribed $1.2M pre-seed funding round. Peptyde Bio is the first company spun out of the Donald Danforth Plant Science Center by Danforth Technology Company (DTC), the wholly-owned subsidiary formed by the Danforth Center in February 2022.
Peptyde Bio was founded in June 2022 by two Danforth Center PIs, Dilip Shah, PhD and Kirk Czymmek PhD, based on over 20 years of research on antimicrobial peptides (AMPs). AMPs are molecules that plants produce to protect themselves from disease, and are considered one of the most promising sources of naturally-occurring alternatives to synthetic pesticides for agriculture.
Investors in Peptyde Bio include Danforth Technology Company, St. Louis Arch Angels, BioGenerator Ventures, and QRM Capital. Tom Laurita, Peptyde Bio’s acting CEO, said, “We decided to see whether we could raise this first round of capital solely from local capital sources, and were overwhelmed by the quick and positive response. It is clear that St. Louis is the epicenter of ag tech innovation, but the belief has always been that startups need to go to one of the coasts for funding. It’s great to see the maturation of the local capital ecosystem”.
Brian Kinman, Chairman of the St Louis Arch Angels stated, “Over the past three years, the Arch Angels have seen and funded an increasing number of startups from the St. Louis region. This funding is encouraging more deal flow and highlighting the fantastic scientific knowledge and innovation that resides in our area. Peptyde Bio is a prime example of this trend, with excellent technology, strong leadership, and a clear strategy. For us, the imprimatur of the Danforth Center and BioGenerator Ventures made Peptyde Bio a very attractive investment, and we are excited to be an important partner in the opportunity.”
About Peptyde Bio Inc.
Peptyde Bio discovers, designs, and characterizes novel anti-microbial peptides (AMPs). These peptides can complement or replace chemical fungicides because they are effective, environmentally friendly, and have lower cost of development compared to traditional fungicides. With a strong pipeline developed through robust design capabilities, Peptyde Bio enables its partners to more quickly and cost effectively commercialize AMP-based biofungicides. Peptyde Bio was launched by the Danforth Technology Company in June 2022.
About the Danforth Technology Company
The Danforth Technology Company (DTC) is a Donald Danforth Plant Science Center subsidiary that facilitates early-stage development of startup companies based on Danforth Center technologies. DTC connects research and discovery to commercial impact by catalyzing partnerships between scientists, entrepreneurs, and investors, and by providing initial management and financial support to its startups.
About the Donald Danforth Plant Science Center
Founded in 1998, the Donald Danforth Plant Science Center is a not-for-profit research institute with a mission to improve the human condition through plant science. Research, education, and outreach aim to have an impact at the nexus of food security and the environment and position the St. Louis region as a world center for plant science. The Center’s work is funded through competitive grants from many sources, including the National Science Foundation, National Institutes of Health, U.S. Department of Energy, U.S. Agency for International Development, and the Bill & Melinda Gates Foundation. Follow us on Twitter at @DanforthCenter.
For more information contact:
Danforth Plant Science Center, Karla Roeber, firstname.lastname@example.org, 314.587.1231.