1. Scrip
  2. >>Business
  3. >>Strategy

Generate Snares Novartis As Partner/Investor For Its AI/ML Approach

 
• By Joseph Haas

Like a previous alliance with Amgen, Generate will use its technology to discover and develop computationally designed therapeutic proteins against multiple undisclosed targets.

Generate
Generate will partner with Novartis to discover novel protein therapeutics • Source: Shutterstock

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

  • 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...

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...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Strategy

Sun On Leqselvi US Launch Ahead, MFN Pricing And Pipeline Changes

 
• By Anju Ghangurde

Sun readies US debut of Leqselvi for alopecia areata, while PD-L1 inhibitor Unloxcyt is in the line up once the Checkpoint Therapeutics deal is completed. Management also discusses limited clarity on President Trump’s most favored nation pricing push, pipeline tweaks and M&A outlook.

Lilly To Diversify Pain Pipeline With SiteOne Acquisition

 
• By Joseph Haas

Deal snapshot: With several internal non-opioid pain candidates in Phase II or earlier, Lilly looks to add R&D potential in pain with $1bn buyout of SiteOne.

Angelini Advances Brain Health Ambitions With GRIN Pact

 
• By Kevin Grogan

The Italian drugmaker gets rights to Phase III-ready asset radiprodil.

GlycoEra’s Series B Cash Will Fund Efforts To Take On FcRn Inhibitor Class

 
• By Joseph Haas

GlycoEra unveiled a $130m series B financing, saying the proceeds would enable it to take its first clinical candidate through proof-of-concept in autoimmune diseases.

More from Business

Sweden’s Hansa Slims Down Ahead of Key Readouts

 
• By Kevin Grogan

New CEO Renée Aguiar-Lucander is marking her mark.

Quick Listen: Scrip’s Five Must-Know Things

 
• By Ian Haydock

In this week's episode: Novo Nordisk’s CEO forced out; quantifying biopharma’s contribution to the US economy; a history of MASH deals; lift for AstraZeneca’s asthma ambitions; and major Japanese firms see US revenue growth.

Gilead Ready To Go After Hepatitis D Again

 
• By Joseph Haas

Following an FDA complete response in 2022, Gilead is getting ready to refile bulevirtide for hepatitis D. The drug already is approved in the EU, UK and elsewhere.