AI has the potential to enable rapid identification of drug targets with higher precision and efficiency. Pic: via Getty Images
Algorae, UNSW work on ‘revolutionary’ AI platform to accelerate drug discovery and development
Health & Biotech
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- Algorae executes AI platform development MoU with UNSW
- Agreement comes as company changed its name from Living Cell Technologies
- New AI platform to reduce time and resources required for drug discovery and development
Algorae Pharmaceuticals (1AI), formerly Living Cell Technologies, has executed a memorandum of understanding with the University of NSW to develop an artificial intelligence platform for drug discovery.
Data specialists within the UNSW Data Science Hub have already developed a sophisticated AI model trained for pharmaceutical prediction, which will form the basis for the new AI platform, that will be developed in conjunction with Algoare and called ‘AlgoareOS’.
AI used to analyse and make predictions over huge existing data sets has the potential to revolutionise the pharmaceutical landscape.
AI algorithms analyse complex data, such as clinical data, biological data, molecular structures, and genetic information, enabling faster identification of drug targets with higher precision and efficiency.
Machine learning, deep learning and neural network models predict drug interactions, assess toxicity, and optimize compound designs, which could save time and resources by guiding researchers towards more promising avenues of investigation.
AI applied to pharmaceuticals also has the potential to streamline research activities, such as preclinical and clinical study design, and facilitates the repurposing of existing drugs, either alone or in combinations, for new therapeutic uses.
Algorae appears to be the first ASX listed pharmaceutical company to pursue a business model using AI for its research and development programs.
Investments in tech bio companies in the USA have been occurring with some companies, namely Recursion Pharmaceuticals (Nasdaq: RXRX US$1.7B market cap), taking strategic investments from big pharma companies looking to leverage AI to find new drug discoveries.
The execution of the MoU comes as the change in the company name to Algorae Pharmaceuticals (ASX:1AI) takes effect today.
Artificial Intelligence platform
Under the MoU, Algorae and the UNSW will seek to execute a mutually acceptable Master Services Research Agreement to develop the sophisticated new AI Platform.
This platform will deploy advanced machine-learning and other AI methodologies to assess and derive insight from large-scale molecular, clinical, and other relevant datasets.
It will also optimise existing projects and identify new combination drug candidates and repositioning opportunities through AI-enabled predictive modelling.
The project will be led by Associate Professor Fatemeh Vafee, who attained a PhD in Artificial Intelligence from the School of Computer Science at the University of Illinois at Chicago.
Dr Vafee is the deputy director of the UNSW Data Science Hub and established the Biomedical AI Laboratory at the UNSW Faculty of Science.
This new development for Algorae also follows on from their engagement of La Trobe university to carry out preclinical studies over its AI-116 combination drug candidate aimed at treating dementia.
This article was developed in collaboration with Algorae Pharmaceuticals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
