CytoReason raises $20 million from Pfizer for AI drug discovery and development platform
Pfizer will also have options to license the Israeli startup’s platform and disease models, and fund supplementary project support, in a deal potentially worth up to $110 million over the next five years
CytoReason announced on Tuesday an extension of its multi-year partnership with Pfizer to use the company’s artificial intelligence technology for Pfizer’s drug development programs.
Under the terms of the agreement, Pfizer will make a $20 million equity investment, have options to license CytoReason’s platform and disease models, and fund supplementary project support, in a deal potentially worth up to $110 million over the next five years.
Since launching the collaboration in 2019, Pfizer has used CytoReason's biological models in its research to enhance the understanding of the immune system, as it develops innovative drugs for immune-mediated and immuno-oncology diseases. CytoReason's platform has provided Pfizer with multiple insights in research and development programs across over 20 diseases.
The new research agreement and investment will support the development of additional disease models and the creation of high-resolution models, spanning a number of therapeutic areas.
CytoReason develops computational modeling of human diseases by combining computational models, proprietary human data, and the AI tools needed to provide actionable insights for accelerating drug development. The company's multidisciplinary team of 80 biologists, bioinformaticians, and data engineers has developed a platform that enables pharmaceutical and biotech companies to prioritize new targets, find biomarkers, and predict which patients may best respond to novel treatments.
Pfizer CEO Albert Burla visited CytoReason’s offices when he was in Israel in June.
“This partnership is advancing a significant shift in the biotech industry, and helping drive future R&D for pharmaceutical companies as they continue to use machine learning to develop treatments more efficiently,” said David Harel, CEO and Co-founder of CytoReason. “Transforming complex data into useful actionable insights will potentially provide leading researchers and scientists a roadmap to further develop their drug portfolios.”