Fund Discipline. Pharma Execution.
Too much promising science gets stranded between academic discovery and clinical validation. Perago Bio closes that gap by providing the capital, operators, and development infrastructure needed to advance therapeutic assets through IND, Phase 1, and early proof-of-concept — before traditional company formation is required.
One Company. Many Programs. Minimal Overhead.
Traditional drug development requires building a separate company around each asset — with its own management team, infrastructure, and burn rate. Perago inverts this model. We centralize the development engine at the company level and treat each program as a separate cost center, not a separate company.
We Find Science Where Capital Has Not Followed
Perago actively sources therapeutic programs from channels where promising science is systematically undervalued or underfunded. Our network spans academic institutions, early-stage biotechs, pharma divestiture processes, and capital-constrained companies seeking a development partner.
Asset Criteria
Perago Is the Operator.
The Perago team directly runs development for every program in the portfolio. We own the scientific strategy, regulatory planning, CMC oversight, and program management — executing through a curated network of CROs, CDMOs, and specialist consulting firms. There is no outsourced management layer. Our partners bring the bench capacity; we bring the direction, accountability, and decision-making.
Operator Model
Perago acts as the internal development team across all programs — not as a passive capital allocator. We set the strategy, manage the vendors, and own the outcomes.
Executed Through
Shared Capabilities
Rigorous Evaluation Before Every Commitment
Every program undergoes a structured diligence process before capital is committed. We evaluate scientific validity, IP position, regulatory pathway, competitive landscape, and development cost — producing a clear-eyed view of risk-adjusted value before we proceed.
No Capital Without a Gate Memo.
Every program advances through five defined decision gates. Before capital can be allocated to the next stage, the program team must produce a written gate memo — documenting data, rationale, and development plan — which is reviewed and approved by the Investment Committee. Programs that meet criteria advance. Programs that do not are abandoned and replaced. There are no zombie assets.
Kill Criteria
Assets that fail to meet predefined go/no-go criteria at any gate are abandoned and replaced with new prospects. Capital is recycled, not wasted.
Investment Committee
Investment Committee approval is required before any major capital deployment. Gate advancement requires a written gate memo reviewed by the IC.
Multiple Paths to Monetization
Perago programs are developed with a clear exit thesis. We target value-inflecting milestones — typically Phase 1 completion or early proof of concept — that position assets for partnership or sale to large pharma or specialty companies.
Proceeds from asset monetizations may be distributed to shareholders and/or reinvested into the pipeline, subject to board-approved reserves.
Have an Asset to Discuss?
We are actively seeking high-potential therapeutic programs. If you have a program that fits our criteria, we want to hear from you.