AstraZeneca & Absci Join Hands in a $247 Mn Cancer Drug Deal

The partnership will leverage Absci's Al technology for large-scale protein analysis to find a viable oncology therapy, a leading focus of AstraZeneca. However, the companies didn’t specify the type of cancer they plan to target.

Anglo-Swedish drugmaker AstraZeneca has signed a deal worth up to $247 Million with USA’s AI biologics firm Absci to design an antibody to fight cancer.

The partnership will leverage Absci's Al technology for large-scale protein analysis to find a viable oncology therapy, a leading focus of AstraZeneca. However, the companies didn’t specify the type of cancer they plan to target.

Talking about the financials, the deal includes an upfront fee for Absei, research and development funding, and milestone payments, as well as royalties on any product sales.

Expressing his views on the partnership, Sean McClain, founder and CEO, Absci's emphasised that the application of engineering principles to drug discovery improved the potential of success and reduced time spent in development.

Founded in 2011, Absci is a generative AI drug creation company based in the USA. Sean McClain started this company to create better biologics for patients, faster. It seeks to build the leading AI platform for biologics drug creation.

Absci carries out drug discovery through its own Integrated Drug Creation platform, which integrates AI and synthetic biology among other technologies, to help users identify novel drug targets, discover optimal biotherapeutic candidates, and generate the cell lines to manufacture them.

Founded in 1999, AstraZeneca is an Anglo-Swedish multinational pharmaceutical and biotechnology company. The company was formed through the merger of the Swedish Astra AB and the British Zeneca Group.

AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for treating diseases in four therapy areas - oncology, cardiovascular, renal & metabolism and respiratory.

Recently, AstraZeneca's rare disease unit Alexion bought Pfizer Portfolio. It signed a licence and purchase agreement for a rare disease programme portfolio from Pfizer Inc. The acquisition of a preclinical rare disease gene therapy programme portfolio from Pfizer is reported to be approximately $1 billion.

Days back, AstraZeneca launched Evinova to advance global digital health solutions for enhanced clinical trials. This initiative, backed by long-term support from AstraZeneca and strategic collaborations with Parexel and Fortrea, positions Evinova to deliver globally scaled digital products and services to the life sciences and healthcare sector.

Evinova aims to extend established technology solutions to pharmaceutical companies, biotechs, and Clinical Research Organisations (CROs) globally, leveraging technologies employed in multiple AstraZeneca-sponsored clinical trials across 40 countries.