The goal of using AI to transform drug discovery and development may not be novel. But a recent alliance is unique in both the stature of companies belonging to it and its choice of an innovation model.
Big Pharma firms AstraZeneca (LON:AZN), Merck KGaA (ETR: MRK), Pfizer (NYSE:PFE) and Teva (NYSE:TEVA) will partner with Amazon Web Services Inc. (NSDQ:AMZN) and the Israel Biotech Fund (IBF) on what they term a “first-of-its-kind innovation lab” known as AION Labs.
“The launch of AION Labs will provide an opportunity for the healthcare and life sciences industry to uncover new ways to reduce the time and cost for discovery, facilitate open collaboration and interoperability, and ultimately improve patients’ health outcomes,” said Dan Sheeran, director of healthcare and life sciences at Amazon Web Services, in a statement.
AION Labs has also formed a strategic partnership with the biomedical research institute BioMed X (Heidelberg, Germany).