Phoundry Pharmaceuticals was established in 2015 by a group of former GlaxoSmithKline scientists to focus on discovering peptide therapeutic drugs for metabolic diseases. We were immediately attracted by the depth and breadth of experience of the scientific team, led by CEO Paul Feldman and CSO Andrew Young, whose track record before they spun out of GSK included eight drug products and more than two dozen phase 2 clinical-stage assets. Peptides with the necessary pharmaceutical properties, the focus for Phoundry, have historically been challenging to discover. We believed the Phoundry team’s specialized and highly-developed expertise could overcome hurdles that have stymied other companies.
Pappas Capital joined as a co-founder with the GSK scientists, leading the company’s seed financing round. Shortly thereafter, in September 2015, Phoundry was acquired by Intarcia Therapeutics, which plans to integrate the Phoundry team’s expertise into its own clinical diabetes and obesity programs.