AION Labs, a ‘first-of-its-kind’ innovation lab that will create and adopt AI technology to transform the process of drug discovery and development, has officially launched this month.
A new startup initiative in Israel aims to create and invest in startups that use artificial intelligence to address challenges in drug discovery and development. Called AION Labs, this innovation lab stems from an economic development effort from the Israeli government and will have contributions from AstraZeneca, Merck, Pfizer and Teva Pharmaceutical.
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Illustrative: A cancer patient and a perfusion drip. (CIPhotos, iStock by Getty Images)
Israeli cancer immunotherapy firm startup Biond Biologics said Tuesday it has entered an exclusive worldwide license agreement with Paris-based multinational pharma firm Sanofi for the development and commercialization of its flagship anti-tumor drug BND-22.
Under the terms of the agreement, Biond will get an upfront payment of $125 million in cash and could get $1 billion once it meets development, regulatory and sales milestones, as well as tiered double-digit royalty payments, the Israeli firm said in a statement.
Biond will lead the first-in-human, phase 1a study of BND-22, evaluating its safety and tolerability as a single drug and also in combination with approved cancer therapeutics. The firm will also explore potential associations between the anti-tumor activity of BND-22 and select tumor and blood-based biomarkers.