Peptris lands $8.98M convertible from India's TDB to push AI drug candidates to clinic

What's the deal? Peptris TechnologiesDealroom has a profile for this one. Try Dealroom →, a Bengaluru-based drug discovery startup, has secured US$11.7M (≈$8.98 million) in optionally convertible debt from India's Technology Development Board (TDB)Dealroom has a profile for this one. Try Dealroom →, part of the Department of Science and TechnologyDealroom has a profile for this one. Try Dealroom →. The funding backs VIGOR, a programme to advance four AI-discovered molecules from early research towards clinical trials.

What's the endgame? The project carries a total cost of US$23.4M and aims to move four candidates from Technology Readiness Level 4 to TRL-6 over three years. That means advanced preclinical work, IND-enabling studies, and clinical trial preparation.

What's in the pipeline? The four candidates target distinct conditions: PEPR111 for neuromuscular disorders and oncology, PEPRX101 for alopecia, PEPR202 for neuropathy, and PEPR112 for Duchenne muscular dystrophy. Peptris plans to use global contract research organisation networks to support validation.

Why now? AI is making it faster to identify promising molecules, but turning computational hits into viable drugs still requires extensive lab validation and clinical development. VIGOR is designed to bridge that gap.

What they said: TDB is backing "technology-intensive programmes to help bridge the gap between innovation and clinical development," said Rajesh Kumar Pathak, secretary of the board, adding that the aim is to strengthen India's capabilities "in biotechnology, pharmaceuticals and AI-led healthcare innovation."

The signal: The round sits in the top 10% of convertible deals in its sector and region, underscoring growing state appetite to fund AI-led drug discovery. For India, it marks a bet on translating computational research into homegrown therapeutics.

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Image credit: Peptris Technologies