Generative AI for Big Pharma

The GenAI Biotech Report (September 2024): Your Monthly Update of Generative AI Applications in Biotech, Pharma, and Life Sciences

Image: Clarivate

Big Pharma Racing into Generative AI

The biggest news this month is the foray of Big Pharma into AI. We will take a closer look at Pharma companies collaborating with Generative AI partners, especially in the area of drug discovery and development. Big Pharma is spending a ton of money on AI-partner companies, who have GenAI platforms across different therapeutic areas. It will be interesting to see what benefits Big Pharma will get from these expenditures. We will have all the future updates for you in The GenAI Biotech Report.

• Merck expands vaccine development collaboration to license Evaxion’s preclinical, AI-designed vaccine candidates. Evaxion will receive an upfront payment of $3.2 million and up to $10 million in 2025. In the future, Evaxion is eligible for potential payments up to $592 million per product.
• Novartis and Generate:Biomedicines announce collaboration to discover and develop protein therapeutics with Generative AI. Generate will receive a total upfront payment of $65 million and may receive more than $1 billion in future payments.