AI start-up raises $11 million to make drug formulations better

In the world of drug discovery and clinical trials, drug formulation can make or break a product’s success, yet its role often goes underappreciated, says Christine Allen, cofounder and CEO of Intrepid Labs, a Toronto-based start-up that has emerged from stealth. Her company has secured $11 million in preseed and seed funding to rethink drug formulation with the use of robotics and artificial intelligence (AI). 

Drug formulation refers to the science of mixing active ingredients with excipients, the inactive ingredients that enhance a drug’s solubility and stability and enable its safe delivery into tissues. 

“I think of the drug as a passenger and formulation as a plane. You need the plane to take you wherever you want to go,” Allen says. Yet the field of drug formulation is often overlooked, she says. “I would say that in 50% of cases, the drug is not well formulated before it enters clinical development.”

One reason the field hasn’t seen more innovation may be that it is impossible to explore every excipient combination, Allen says. “There could be over 10 billion combinations of excipients,” she says. “I think that’s why we just stick with what we know and don’t want to reinvent the wheel; it takes too much time.”

The idea for Intrepid emerged during Allen’s interactions with colleagues at the University of Toronto, including Alán Aspuru-Guzik, a well-known researcher in AI and chemistry. Although Allen cofounded the company with them in 2024, the team had begun working on its AI platform 6 years before.

The firm’s proprietary algorithm is trained on data generated by automation and robotics. It allows for the discovery of customized formulations for specific drugs under development. Companies can also use the platform to rework the formulations of existing medications, Allen says. “The idea is to maximize the potential of the active ingredient and minimize side effects and drug toxicity.”

Already, Intrepid has eight multinational pharmaceutical companies as clients, Allen says. In one project, a customer is using Intrepid’s services to turn an orally administered drug into a long-acting injectable.

With the new funds, Intrepid plans to expand its laboratory, enhance its robotics infrastructure, and hire employees who can help grow the business. According to Allen, the company’s ultimate goal is to help pharmaceutical companies shorten their drug development timelines by offering them the best formulations at an early stage. “We just want to help identify a formulation that sets that drug up for success before it enters the clinic,” she says.