Multinational pharmaceutical and biotechnology company Pfizer and AI-powered data company Tempus announced a multi-year strategic alliance to use AI and machine learning to inform oncology drug discovery and development.
Pfizer will leverage Tempus’ anonymized data library to accelerate oncology therapeutic development. It will also use Tempus’ AI-based companion diagnostic offerings and clinical trial matching program to support therapeutic research and development.
“Pfizer shares our commitment to bringing new treatments to patients faster, and we look forward to working together to usher in the next generation of oncology therapies,” said Eric Lefkofsky, founder and CEO of Tempus, in a statement. “This is the third strategic collaboration Tempus has established with a global pharmaceutical leader in the past year, as we believe that combining our technological capabilities with the deep R&D expertise of the pharmaceutical industry will come much closer to realizing the full potential of precision medicine.
THE GREAT TREND
Tempus is no stranger to partnering with big pharma for cancer care.
Last year the company announced a three-year deal with a British multinational pharmaceutical and biotechnology company GSKwhich included an upfront payment of $70 million to accelerate oncology drug discovery, identify drug targets, improve the design of its clinical trials and accelerate trial recruitment.
The Chicago-based company has also announced a collaboration with an American pharmaceutical company Eli Lily to expand access to genomic testing for patients with advanced/metastatic non-small cell lung cancer.
In 2021, Tempus announced a strategic collaboration with an Anglo-Swedish multinational pharmaceutical and biotechnology company Astra Zeneca to advance drug discovery and development in oncology.
Last year, the company announced it secured $275 million in funding through a combination of debt and equity financing from existing investors, bringing its total raise to $1.3 billion.
Other players using AI for oncology drug discovery include AI-based pathology company Path AI and technology company exscientia.