US-based pharmaceutical company Incyte has entered a strategic collaboration with Genesis Therapeutics, a biotechnology company focused on AI technologies.
The collaboration is focused on the research, discovery and development of novel small-molecule medicines, with an initial focus on targets selected by Incyte.
Under the terms of the agreement, Genesis and Incyte jointly develop two initial targets, with Incyte having the option to nominate an additional target for a predetermined fee.
Genesis will receive $30m in upfront payment and is eligible to receive up to $295m in development, regulatory and commercial milestone payments per target.
The biotechnology company is also eligible to receive tiered royalties on sales of any products emerging from the collaboration, once they are approved.
Incyte will obtain exclusive rights for potential clinical development and commercialisation of the products from this collaboration.
Incyte president and research and development head Pablo Cagnoni said: “As a leader in pharmaceutical innovation, Incyte is continually seeking new technologies that can transform how new medicines are discovered and developed.
“Partnering with Genesis Therapeutics presents a unique opportunity to leverage their AI technologies to accelerate the discovery of breakthrough small molecules for high-impact targets in our pipeline.”
Genesis has developed a generative and predictive AI platform, GEMS (Genesis Exploration of Molecular Space), for small molecule drug discovery.
GEMS platform combines the company’s AI methods, including language models, diffusion models and physical simulation, to generate and optimise molecules for complex targets.
The partnership will leverage Genesis’ GEMS platform for the discovery and optimisation of small molecule compounds for the collaboration targets.
Genesis has secured over $300m in financing from life science, tech, and AI-focused investors, and is building a therapeutics pipeline for a variety of high-impact targets.
Genesis founder and CEO Evan Feinberg said: “AI has the potential to redefine how we discover small molecule medicines, and our team is at the forefront of this revolution.
“We are pleased to establish this world-class partnership to combine our GEMS AI platform with Incyte’s deep expertise and track record in drug discovery and development, with the shared goal of advancing critical treatments for patients with severe diseases.”
