Illumina Inks AI Pact With AstraZeneca To Accelerate Drug Target Discovery

Illumina Inks AI Pact With AstraZeneca To Accelerate Drug Target Discovery
  • Illumina Inc ILMN entered a strategic research collaboration with AstraZeneca plc AZN on drug target discovery. Financial and other details of the partnership were not disclosed. 
  • Under the terms of the agreement, the firms will join forces on artificial intelligence-based genome interpretation and genomic analysis and evaluate whether a combined framework can increase the yield of and confidence in target discovery.
  • AstraZeneca's Center for Genomics Research will use the combined framework to analyze large, multi-omic datasets in its digital biobank.
  • Should the project succeed, the companies will "assess opportunities for a long-term partnership."
  • "Illumina and AstraZeneca are uniquely positioned to improve the efficiency of pharma pipelines by leveraging industry-leading abilities to identify genetic variants that contribute to human disease," Joydeep Goswami, Illumina's chief strategy and corporate development officer and interim CFO, said. 
  • "By identifying genes that show evidence of human disease causality, the combined framework has the potential to prioritize drug candidates with increased likelihood of approval."
  • Price Action: ILMN shares are down 0.93% at $201.64 on the last check Tuesday.

Posted In: BriefsLarge CapNewsHealth CareContractsGeneral