AI Proteins, Inc., a biotechnology company that utilizes computational de novo protein design to create therapeutic miniproteins, today announced that it has entered a Research Collaboration and Option Agreement with Bristol Myers Squibb (NYSE: BMY) to discover and develop novel miniprotein-based therapeutics utilizing AI Proteins’ powerful discovery platform.
Under this collaboration, AI Proteins will leverage its proprietary AI-driven platform to design and optimize miniproteins against targets of interest to Bristol Myers Squibb. These de novo designed miniproteins, characterized by their small size and high affinity, have the potential to offer significant advantages over traditional antibody-based therapies, including improved tissue penetration and rapid clearance.
“We are excited to partner with Bristol Myers Squibb to bring our cutting-edge protein design technology to the clinic,” said Chris Bahl, PhD, President, CSO and Founder of AI Proteins. “Our platform combines AI, synthetic biology, and laboratory automation to rapidly design and optimize novel miniproteins with ideal drug-like properties. By combining our expertise in protein engineering with Bristol Myers Squibb’s deep knowledge of pharmaceutical development, we aim to create a new generation of targeted therapies that can transform patient outcomes.”
Under the terms of the agreement, AI Proteins will receive an upfront cash payment for the collaboration under which the company will discover and optimize miniproteins for two undisclosed targets. Bristol Myers Squibb has an option for an exclusive worldwide license to these miniproteins as well as two additional target options in exchange for an expansion fee and potential development, regulatory, and commercial milestone payments valued up to $400M plus royalties on net sales.
