Generative artificial intelligence firm Generate Biomedicines unveiled a novel protein discovery and development collaboration with Novartis AG on 24 September that it called part of an effort to ensure its technology helps as many patients as possible. Generate has previously partnered with Amgen, Inc. and is part of a pair of academic research alliances.
Key Takeaways
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Generate Biomedicines will get $65m up front, including a $15m equity investment, from Novartis to use its generative AI platform to discover and develop novel proteins against undisclosed targets.
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The artificial intelligence/machine learning firm has a prior alliance in undisclosed therapeutic areas with Amgen, plus cancer collaborations with MD Anderson and Roswell Park
The Somerville, MA-based company will get $65m up front from Novartis, $15m of that comprising an equity stake, and can earn more than $1bn in milestones plus potential sales royalties over the course of the deal. The two companies are not stating what disease or target areas they will focus on under their alliance
