Multinational pharmaceutical and biotech firm Pfizer and AI-powered information firm Tempus introduced a multi-year strategic alliance to make the most of AI and machine studying to tell drug discovery and growth in oncology.
Pfizer will leverage Tempus’ library of de-identified information to speed up therapeutic growth in oncology. It is going to additionally use Tempus’ AI-driven companion diagnostic choices and scientific trial matching program to assist therapeutic analysis and growth.
“Pfizer shares our dedication to bringing novel therapies to sufferers sooner, and we look ahead to working collectively to usher within the subsequent technology of oncology therapeutics,” Eric Lefkofsky, founder and CEO of Tempus, mentioned in a press release. “That is the third strategic collaboration Tempus has established with a worldwide pharmaceutical chief within the final yr, as we imagine that combining our technological capabilities with pharma’s deep R&D experience will get us a lot nearer in realizing the complete potential of precision medication.”
THE LARGER TREND
Tempus isn’t any stranger to partnering with pharma giants for oncology care.
Final yr, the corporate announced a three-year agreement with British multinational pharmaceutical and biotech firm GSK, which included a $70 million preliminary cost to speed up drug discovery in oncology, establish drug targets, enhance its scientific trial design and velocity up trial enrollment.
The Chicago-based firm additionally announced a collaboration with American pharma firm Eli Lilly to broaden entry to genomic testing for sufferers with superior/metastatic non-small cell lung most cancers.
Final yr, the corporate introduced it scored $275 million in funding by means of a mix of debt financing and fairness from current buyers, bringing its whole elevate to $1.3 billion.