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AstraZeneca Teams Up with AI Firm to Develop Cancer Drug

The offices of British-Swedish multinational pharmaceutical and biopharmaceutical company AstraZeneca PLC in Macclesfield, England, on July 21, 2020. (Paul Ellis/AFP)
The offices of British-Swedish multinational pharmaceutical and biopharmaceutical company AstraZeneca PLC in Macclesfield, England, on July 21, 2020. (Paul Ellis/AFP)
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AstraZeneca Teams Up with AI Firm to Develop Cancer Drug

The offices of British-Swedish multinational pharmaceutical and biopharmaceutical company AstraZeneca PLC in Macclesfield, England, on July 21, 2020. (Paul Ellis/AFP)
The offices of British-Swedish multinational pharmaceutical and biopharmaceutical company AstraZeneca PLC in Macclesfield, England, on July 21, 2020. (Paul Ellis/AFP)

Anglo-Swedish drug maker 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, the Financial Times reported on Sunday.

The collaboration aims to harness Absci's AI technology for large-scale protein analysis to find a viable oncology therapy, a leading focus of AstraZeneca, the report said. It did not say what kind of cancer they plan to target.

Absci and AstraZeneca did not immediately respond to a Reuters requests for comment.

The deal includes an upfront fee for Absci, research and development funding and milestone payments, as well as royalties on any product sales, the newspaper said.

Sean McClain, Absci’s founder and chief executive, was quoted as saying the application of engineering principles to drug discovery improved the potential of success and reduced time spent in development.

Absci applies generative artificial intelligence to design optimal drug candidates based on target affinity, safety, manufacturability and other traits.

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Nepal Hosts Hot Air Balloon Festival

Hot air balloons rise in sky during the international festival at Pokhara in Nepal on December 25, 2024. (Photo by PRAKASH MATHEMA / AFP)
Hot air balloons rise in sky during the international festival at Pokhara in Nepal on December 25, 2024. (Photo by PRAKASH MATHEMA / AFP)
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Nepal Hosts Hot Air Balloon Festival

Hot air balloons rise in sky during the international festival at Pokhara in Nepal on December 25, 2024. (Photo by PRAKASH MATHEMA / AFP)
Hot air balloons rise in sky during the international festival at Pokhara in Nepal on December 25, 2024. (Photo by PRAKASH MATHEMA / AFP)

With Nepal's snowy Himalayan peaks as a backdrop, the sky above Pokhara transformed into a vibrant canvas of colors for the country's first hot-air balloon festival.

Tourism is a major earner for Nepal, which saw over a million foreign visitors this year after a post-pandemic bounceback, and investments are being made in hotels and airports to cater to travelers.

"We felt that we must bring a balloon festival like this to Nepal," Sabin Maharjan, an organizer of the event, told AFP.

Hot-air balloons from more than 10 countries participated in the festival.

"A ride here can be very exciting as you can see mountains, hills and lakes," Maharjan added.

"All passengers tell us that they are very happy -- such a festival will boost our tourism."

The balloons created a mesmerizing display against a stunning sight of the snow-capped Annapurna range.

"It is spectacular," American balloon pilot Derek Hamcock, 67, said.

"As soon as you go above the small range here you see all the Himalayas. Unbelievable, every time you see them it is unbelievable."

Balloons shaped as a rat and a frog from were among those joining in the fun, slowly drifting with the breeze.

"You never know where you are going," said Diego Criado del Rey, 29, a balloon pilot from Spain.

"So it is pretty much you and the nature -- not fighting, but being together. You go where the nature tells you."

Nepal's Civil Aviation Authority issued a notice for the skies over Pokhara for a duration of nine days to allow balloon flights.

Although more than two centuries have passed since France's Montgolfier brothers made the first manned flight, ballooning can still capture the imagination.