Shanxi C&Y Pharmaceutical Group Co., Ltd (SHE: 300254), a Chinese pharmaceutical company, is venturing into a joint venture (JV) with Beijing-based AI-driven drug developer GigaCeuticals. The new JV, valued at RMB 120 million (USD 16.7 million), aims to collaborate on the research and development, industrialization, and commercialization of innovative drugs leveraging artificial intelligence technology.
Under the terms of the agreement, C&Y Pharma will contribute RMB 72 million (USD 10 million) in cash to the JV, while GigaCeuticals will bring to the table RMB 48 million (USD 6.7 million) worth of patented technology and expertise. The alliance signifies a strategic move to integrate GigaCeuticals’ AI capabilities into drug development, starting with the application of its technology to two drug candidates selected from C&Y Pharma’s pipeline.
This joint venture underscores the growing trend of integrating advanced technologies like AI in the pharmaceutical industry to accelerate the discovery and development of new drugs, potentially revolutionizing the way medicines are brought to market.- Flcube.com
