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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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Saudi Space Agency Launches 'Space Future Center' to Strengthen Innovation in Space Sector

The initiative is part of the Kingdom’s ongoing efforts to solidify its leadership in the global space sector and foster growth in economic development, research, and innovation in this vital field. (SPA)
The initiative is part of the Kingdom’s ongoing efforts to solidify its leadership in the global space sector and foster growth in economic development, research, and innovation in this vital field. (SPA)
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Saudi Space Agency Launches 'Space Future Center' to Strengthen Innovation in Space Sector

The initiative is part of the Kingdom’s ongoing efforts to solidify its leadership in the global space sector and foster growth in economic development, research, and innovation in this vital field. (SPA)
The initiative is part of the Kingdom’s ongoing efforts to solidify its leadership in the global space sector and foster growth in economic development, research, and innovation in this vital field. (SPA)

The Saudi Space Agency (SSA) announced on Sunday the launch of the Space Future Center, the first of its kind within the network of Fourth Industrial Revolution Centers affiliated with the World Economic Forum.

The initiative is part of the Kingdom’s ongoing efforts to solidify its leadership in the global space sector and foster growth in economic development, research, and innovation in this vital field.

The center introduced its board of directors, comprising a distinguished group of international experts. Leading the board is Chairman of the Space Future Center and Deputy Minister of Economy and Planning Dr. Mohammed Al-Tamimi. Other prominent members include Managing Director of the World Economic Forum Eng. Ammar Nagadi, CEO of the World Economic Forum Jeremy Jurgens, CEO of the Neo Space Group Martijn Blanken, Co-Founder and CEO of Axiom Space Kam Ghaffarian, and Founder of Spaceport Sarabahi Susmita Mohanty. The board’s membership reflects the expertise and strategic vision necessary to achieve the center's ambitious goals.

Al-Tamimi emphasized that the center represents a significant addition to the global space sector. He highlighted the Kingdom’s commitment to strengthening a sustainable space economy, advancing knowledge, and fostering international partnerships.

The launch of the center will boost Saudi Arabia’s role both regionally and globally, enabling humanity to responsibly explore and capitalize on the opportunities offered by space, he stressed.

This initiative aligns with Saudi Arabia's broader ambition to become a leader in space exploration and innovation, positioning the Kingdom at the forefront of the rapidly evolving space industry.