Chesterbrook-based Persevere Therapeutics marked its emergence from stealth mode last week with completed equity financing and product acquisition, writes John George for the Philadelphia Business Journal.
Focused on developing cancer treatments, the biotechnology startup raised $1.57 million in a seed financing round. A Securities and Exchange Commission filing shows that the company is looking to raise $5 million overall.
Founded in July 2025, Persevere also announced the acquisition of a misetionamide drug candidate and related assets from Switzerland-based Geistlich Pharma AG. As part of the deal, the seller received a ten percent equity stake in the Chester County company. Geistlich led the seed funding round together with angel investors.
“We are a new company, but the way I describe it is we are a biotech born on second base,” said Greg Bosch, Persevere’s CEO. “A friend of mine who is a venture capitalist said you just don’t see new companies with 70 patents, a completed Phase 1 clinical, and manufacturing completed.”
Misetionamide is an experimental cancer drug that works by blocking two key proteins that are involved in helping cancer cells to grow and survive. This process disrupts the cells’ energy production and leads to their death.
Read more about Chesterbrook’s Persevere Therapeutics funding in the Philadelphia Business Journal.
