US-based biotech AI Proteins, Inc. has entered into a research collaboration and option agreement with New York-headquartered Bristol-Myers Squibb (BMS; NYSE: BMY). This partnership allows BMS to explore and develop novel miniprotein-based therapeutics using AI Proteins’ advanced discovery platform.
Agreement Terms and Financials
Under the terms of the agreement, AI Proteins will receive an upfront cash payment to discover and optimize miniproteins targeting two undisclosed therapeutic areas. BMS has the option to secure an exclusive worldwide license for these miniproteins, along with two additional target options. In exchange for this, BMS will pay an expansion fee and potential development, regulatory, and commercial milestone payments valued up to USD 400 million, plus royalties on net sales.
AI Proteins: Pioneering Computational De Novo Protein Design
Founded in 2021, AI Proteins is a biotechnology company specializing in the use of computational de novo protein design to create therapeutic miniproteins. The company leverages AI-based design and a high-throughput drug discovery platform to optimize miniproteins for a variety of therapeutic applications, positioning it at the forefront of innovative drug development.-Fineline Info & Tech
