Anglo-Swedish drugmaker AstraZeneca has signed a deal worth up to $247 million with US artificial intelligence (AI) biologics firm Absci to design an antibody to fight cancer, Absci said in a statement on Sunday. Absci applies generative artificial intelligence to design optimal drug candidates based on target affinity, safety, manufacturability, and other traits. AstraZeneca aims to bring novel treatments to oncology patients. The collaboration between AstraZeneca and Absci will leverage AI to develop new and improved antibody therapeutics for the treatment of cancer.

This partnership between AstraZeneca and Absci is expected to contribute to advancements in the field of cancer treatment. By using generative AI models, Absci will be able to design specialized antibodies that have improved efficacy and fewer side effects. This will help in developing more targeted and personalized treatments for cancer patients.

AstraZeneca’s collaboration with Absci demonstrates the growing importance of AI in the field of drug development. By leveraging AI technology, researchers can optimize the process of designing new drugs and identify the most promising candidates for further development. This has the potential to significantly accelerate the discovery and development of new treatments for various diseases, including cancer.

The deal includes an upfront fee for Absci, research and development funding, milestone payments, and royalties on any product sales. This financial support will enable Absci to further enhance its AI capabilities and expedite the development of new antibody therapeutics.

Both AstraZeneca and Absci are committed to improving patient outcomes in the field of oncology. Through their collaboration, they aim to revolutionize the way cancer is treated by leveraging the power of AI. This partnership represents a significant step forward in the development of innovative and targeted therapies for cancer patients.