The next generation of AI biotechs is here. Can they deliver on the hype?

“We’re in a frothy time,” ac­knowl­edges Alexan­dra Sny­der, the head of R&D at Gen­er­ate:Bio­med­i­cines.

Gen­er­ate is one of the AI-dri­ven biotechs that make up a new gen­er­a­tion of com­pa­nies with huge fund­ing, A-list sci­ence and tech stars and com­put­ing horse­pow­er. On Tues­day, the $1 bil­lion-plus launch of Xaira Ther­a­peu­tics — the sec­ond-biggest ini­tial biotech start­up fund­ing ever — took a field that’s al­ready de­scribed by some as over­hyped and whipped it in­to a fren­zy.

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