MedCity News
A firm that uses artificial intelligence in drug development is partnering up with one of the country’s largest contract research organizations to offer the technology to drugmakers.
San Francisco-based Atomwise said Friday it had formed the partnership with Wilmington, Massachusetts-based Charles River Laboratories, adding the deal is potentially worth up to $2.4 billion for the technology company in royalties.
Under the agreement, Atomwise will receive technology access fees, milestone payments and royalties from clients while supporting hit discovery, hit-to-lead and lead optimization. The firm said that it and the CRO working together would provide biotechnology and pharmaceutical companies with greater opportunity to identify chemically diverse hit compounds.