Nov 23, 2022Peptyde Bio closes $1.2 million pre-seed funding round
Peptyde Bio Inc. 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 principal investigators, Dilip Shah and Kirk Czymmek, and based on more than 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 Co., 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,” Tom Laurita, acting CEO of Peptyde Bio said in a news release. “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 said that over the past three years, the Arch Angels have seen and funded an increasing number of startups in the St. Louis region.
“This funding is encouraging more deal flow and highlighting the fantastic scientific knowledge and innovation that resides in our area,” Kinman said in the release. “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.”