On 24th September, Generate:Biomedicines announced that it has struck a deal with Novartis to develop an undisclosed number of targets in various disease areas. With milestone payments, the company is eligible to receive over $1 billion, in addition to royalties. Novartis is paying Generate $65 million up front, which includes $15 million for an undisclosed amount of equity in the company. The partnership revolves around Generate’s generative AI platform, which integrates machine learning with high-throughput experimental validation with the aim of ushering in a new era of programmable biology.
Sep 25, 2024
