11.01.2022 – 15:01
PostEra, a biotechnology company specializing in machine learning for preclinical drug discovery, announced the expansion for the companies today existing strategic cooperation acquainted with Pfizer. The expanded multi-target research program will be a KI-Labor in which PostEra and Pfizer jointly advance multiple drug discovery programs with an initial focus on oncology and COVID-19 antiviral therapeutics. The AI lab will leverage novel machine learning for medicinal chemistry, building on data from Pfizer and PostEra’s groundbreaking innovations in generative chemistry and synthesis-based design.
PostEra will receive a $ 13 million upfront payment and will be entitled to additional milestone payments of up to a total of $ 248 million if all milestones are met, as well as tiered royalties on all approved products resulting from the collaboration.
The AI lab will closely mesh drug discovery with technology development to ensure a continuous feedback loop that refines both the process and the platform’s predictions. The AI Lab’s vision is to combine Pfizer’s expertise and data with PostEra’s technology to drive these drug discovery programs while creating an integrated, cutting-edge platform that can be used across Pfizer’s preclinical drug discovery.
“We believe the best way to build a leading technology is to integrate its development closely with ongoing drug discovery programs,” said Dr. Alpha Lee, PostEra’s Chief Scientific Officer Expand collaboration to do just that and take advantage of AI in improving preclinical drug discovery, “added Aaron Morris, CEO of PostEra.
“At Pfizer, we believe that digital technologies, including artificial intelligence and machine learning, have great potential to aid the discovery of new approaches to preventing, curing and treating diseases for patients in need,” said Charlotte Allerton, Head of Medicine Design at Pfizer. “We are proud to expand our collaboration with PostEra to further improve our current capabilities.”
The company also announced today its $ 24 million Series A funding. The new funding will enable PostEra to further expand its drug research programs carried out with partners, to initiate internal drug research programs and to further develop its AI-supported platform for medicinal chemistry.
About PostEra PostEra was founded in 2019 and its technology is based on the groundbreaking academic research of its founding scientists. PostEra’s technology solves some of the key drug discovery and development challenges by combining molecular design with chemical synthesis. PostEra drives small molecule programs through partnerships with biopharmaceutical companies, works on its own in-house pipeline, and also offers some of its synthesis technology through its own diverse Web platform. PostEra also launched the world’s largest open science drug discovery initiative; COVID Moonshot.
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Original content by: PostEra, transmitted by news aktuell