Almirall is committed to technology to develop its product portfolio. The Catalan pharmaceutical company has reached an agreement with Absci to promote the creation of new drugs through generative Artificial Intelligence (AI), which will discover, develop, and market new therapies to treat chronic and debilitating dermatological diseases.
This is Almirall’s first collaboration in the field of drugs generated by Artificial Intelligence. In fact, the agreement follows Absci’s announcement a few months ago confirming that it could design and validate new therapeutic antibodies using its Zero Shot generative AI.
Dr. Karl Ziegelbauer, scientific director of Almirall, stated “We have chosen Absci because its platform is truly innovative in trying to solve the industry’s biggest challenges, which go hand in hand with large unmet medical needs.” The manager added that “our collaboration highlights Almirall’s commitment to pursuing innovative approaches to help patients suffering from serious skin diseases achieve their dream of leading a healthy life.”
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Absci will apply its technology to discover and design therapeutic candidates for two dermatological targets. Almirall pays $650 million upfront
As stated in the agreement, Absci will apply its technology to discover and design therapeutic candidates for two dermatological targets. In addition to royalties on the products, Absci may receive up to approximately $650 million upfront, beyond payments for research and development (R&D) regarding post-approval milestones in the programs, in the event that All objectives are completed successfully.
For his part, Sean McClain, founder and CEO of Absci, stated that “the collaboration will generate enormous scientific and technical knowledge, which will allow the creation of AI drugs to treat chronic inflammatory diseases more widely .” The head of the firm added that the collaboration project “will give us impetus on our path towards the development of better biological products.”
Almirall reduced its net profit by 58.3% until the third quarter of 2023, with a figure of €14.4 million, compared to the 34.5 million euros registered in the same period of 2022. However, the Catalan pharmaceutical company reported sales growth of 6.4% until September, with €674.6 million. The company justified this figure in the good performance of key products in Europe.
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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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