Huge for PYC and Potential14 Jan 2025 11:52
Huge for PYC as PYC is working in the ADC space as per December RNC
Pfizer is expanding its collaboration with the start-up PostEra, which applies artificial intelligence to medicinal chemistry. The pharmaceutical giant will pay the smaller firm up to $350 million to use software models to design new small molecules as well as antibody-drug conjugates, or ADCs.
ADCs are new territory within the PostEra-Pfizer partnership. The two companies have been working together since late 2020, when Pfizer tapped 1-year-old PostEra to design small molecules using machine learning for an undisclosed amount of money. Just over a year later, Pfizer expanded the partnership to antivirals and cancer drugs, paying PostEra $13 million up front and promising up to $248 million in milestone payments. The new deal includes $12 million up front.
https://cen.acs.org/business/start-ups/Pfizer-doubles-down-AI-partnership/103/web/2025/01