Algen Biotechnologies, a biotech firm focused on CRISPR gene modulation and AI-driven drug discovery, has entered into a partnership with AstraZeneca Plc (NASDAQ: AZN). This collaboration aims to enhance the search for innovative therapeutic targets in the field of immunology.
As part of the agreement, Algen will utilize its AlgenBrain platform to facilitate preclinical drug discovery. AstraZeneca will obtain exclusive rights to develop and market therapies aimed at specific targets identified through this partnership.
In terms of financials, Algen is set to receive an upfront payment from AstraZeneca, along with additional milestones payments tied to development, regulatory, and commercial achievements. The total potential value of the deal may reach up to $555 million.
AlgenBrain stands out for its ability to model disease progression by analyzing billions of dynamic RNA changes found in human cell types relevant to various diseases. This technology connects these changes to functional outcomes and therapeutic indexes via high-throughput gene modulation.
By defining causal relationships between gene regulation and the progression of diseases, AlgenBrain could pinpoint new genes that might reverse disease processes when therapeutically targeted. The platform emphasizes early discovery rooted in human biology, which aims to boost the accuracy of translational research and enhance prospects for clinical success.
Recently, AstraZeneca has temporarily halted a planned £200 million ($271.26 million) investment in its research site located in Cambridge. A spokesperson from AstraZeneca confirmed to Reuters that the company regularly reassesses its investment priorities, indicating that the Cambridge extension is currently paused.
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At the latest update, AstraZeneca’s stock price shows a slight increase of 0.63%, reaching $85.85.
