Generate:Biomedicines and Novartis have entered into a multi-target partnership, focusing on the discovery and development of protein therapeutics in multiple disease areas.
Their collaboration will utilise the Generate Platform – a generative AI platform from Generate, to develop molecules streamlined using AI-based and de novo-generation approaches.
The platform merges machine learning with experimental validation and Novartis’ capabilities in target biology, the development of biologics and clinical development.
The companies intend to innovate new therapeutics and expedite the drug discovery and development process.
Generate is entitled to receive $65m in upfront payment from Novartis. This sum includes $15m for equity purchase in Generate.
Generate could also receive more than $1bn in performance-based milestone payments, in addition to royalty payments.
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Novartis biomedical research president Fiona Marshall stated: “We are delighted to collaborate with Generate to explore the promise of generative AI in enhancing and accelerating the discovery of next-generation biologics.
“This collaboration offers an opportunity to leverage the unique strengths of our respective companies, from target biology and biologics discovery to machine learning/AI and clinical development, to bring forward new medicines with transformative potential for patients.”
Novartis and Generate did not disclose the specific number of targets and therapeutic areas involved in the collaboration.
Generate:Biomedicines CEO Mike Nally stated: “Partnering with a world-leading drug discovery and development organisation like Novartis allows us to broaden the use of our cutting-edge generative biology platform to tackle even more areas of unmet medical need.
“We look forward to working closely with the team at Novartis to continue to demonstrate the transformative potential of programming biology to create better medicines for patients, faster.”
In August 2024, Novartis partnered with Versant Ventures to establish the Canada-based discovery-stage biotech company Borealis Biosciences.
