Milestone achievement validates rapid drug discovery capabilities and triggers a financial milestone

Perpetual Medicines, a biotechnology company pioneering the integration of computational physics and artificial intelligence for complex drug discovery, today announced the successful delivery of a development candidate in collaboration with Third Rock Ventures. The milestone was achieved in less than 18 months.

Under the terms of the collaboration, Perpetual Medicines used its advanced computational models to design and optimize a novel, therapeutic candidate. The rapid and successful transition from concept to development candidate has triggered a milestone payment to Perpetual Medicines.

"Delivering a development-ready candidate for a highly complex modality in under 18 months is validation of our platform," said Kerry Blanchard, Founder of Perpetual Medicines. "By marrying rigorous computational physics with predictive AI, we bypass the traditional, iterative bottlenecks of empirical drug design. This milestone highlights the speed of our technology and our ability to create value through high-tier alliances."

The collaboration paired Perpetual Medicines’ specialized drug hunting and design capabilities with the strategic and therapeutic expertise of Third Rock Ventures. While the specific therapeutic target and the identity of the newly formed venture remain confidential, the partnership underscores a shared commitment to accelerating the timeline of delivering meaningful medicines to patients. A second program is advancing through lead optimization.

"We are incredibly proud of what our combined teams have accomplished in record time," added Jigar Raythatha, Partner at Third Rock Ventures. “Perpetual Medicines’ platform allowed us to navigate a challenging design space with remarkable precision. This successful outcome establishes a powerful blueprint for how venture capital and cutting-edge computational platforms can collaborate to build the next generation of asset-centric companies."

About Perpetual Medicines
We are a next-generation biotechnology company that leverages a proprietary platform combining computational physics, advanced algorithms, and deep drug discovery expertise to design novel peptide therapeutics. By modeling molecular interactions with high-resolution physics, the company compresses the timeline from target identification to clinical candidate. Founded by veteran drug hunters, Perpetual Medicines operates globally with a mission to accelerate the delivery of life-saving therapies. The company leverages its discovery platform through collaborations and it is building a portfolio of peptide and peptide conjugate therapeutics across oncology, metabolic, and autoimmune diseases. Perpetual merged with TandemAI in June of 2025 to create an integrated AI-enabled small molecule and peptide discovery platform. For more information, visit https://tandemai.com/.

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"By marrying rigorous computational physics with predictive AI, we bypass the traditional, iterative bottlenecks of empirical drug design."