British-Swed pharmaceutical company AstraZeneca has signed a $247 million deal with the United States artificial intelligence (AI) biological company, Absci, to design antibodies to fight cancer. This was first reported by the Financial Times on Sunday, December 3.
This collaboration aims to leverage Absci's AI technology for large-scale protein analysis to find appropriate oncology therapy, which is AstraZeneca's main focus. However, the report did not mention the type of cancer they would target.
Absci and AstraZeneca have not responded to requests for comment from the media.
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The deal includes preliminary payments for Absci, research and development funding, achievement stage payments, and royalties on product sales.
Sean McClain, founder and chief executive of Absci, was quoted as saying that the application of engineering principles to drug discovery increases the potential for success and reduces the time spent in development.
Absci applies generating artificial intelligence to design optimal drug candidates based on target affinity, security, manufacture, and other characteristics.
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