Biomedicines, a Flagship Pioneering company, has partnered with Novartis to use artificial intelligence to develop new medicines for various diseases. The deal includes milestone payments totaling over $1 billion and royalties. Novartis is paying Generate $65 million upfront, including an investment in the company. Previous investors include NVIDIA and Amgen. Novartis believes in the potential of Generate’s AI and wet lab capabilities to identify novel candidates and reduce preclinical development time. This partnership aims to leverage Generate’s expertise in AI to advance drug discovery and development.
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Novartis, Generate:Biomedicines enter AI drug development deal
