Pharos Ai Bio is collaborating with global pharmaceutical company Eli Lilly on its artificial intelligence (AI) drug development platform. This partnership marks the first instance of a domestic AI drug development firm connecting its capabilities with Eli Lilly's AI drug development collaboration platform.
On June 9, Pharos Ai Bio announced that it has signed a strategic cooperation agreement with Eli Lilly for the "Lilly TuneLab," a drug development platform utilizing federated learning technology based on NVIDIA FLARE, which was launched by Eli Lilly in September of last year.
The collaboration aims to enhance Pharos Ai Bio's own AI drug development platform, Chemiverse®, by integrating its experience in drug candidate discovery and clinical development with the AI/ML model drug development systems of a global pharmaceutical leader, setting a precedent among domestic AI drug development companies.
A representative from Pharos Ai Bio stated, "Through this collaboration, we plan to enhance the Chemiverse platform and accelerate pipeline development while increasing the probability of success, thereby strengthening our global competitiveness."
The strategy involves broadening the scope of collaboration with Lilly TuneLab based on the drug candidates, experimental data, and development know-how accumulated through Chemiverse, while continuously seeking joint research and technology commercialization opportunities with global pharmaceutical companies.
Lilly TuneLab serves as a new pillar of AI/ML collaboration within Eli Lilly's global open innovation platform, Catalyze360. It is the first AI federated learning drug development platform led by a global pharmaceutical company, built to connect the vast drug development research big data and AI/ML models accumulated through over $1 billion in investments by Eli Lilly over the past several decades with global innovative firms like Schrödinger.
Through this partnership, Pharos Ai Bio plans to examine the properties, drugability, and development feasibility of key pipelines by linking the drug candidates and development strategies secured through Chemiverse with the AI/ML predictive environment of Lilly TuneLab.
A Pharos Ai Bio official explained, "The significance of this collaboration lies in the fact that it provides a starting point for validating the success potential and development feasibility of drug candidates and clinical development know-how already secured through our own platform within a global AI/ML collaborative framework."
The use of AI in drug development is rapidly expanding. In the pharmaceutical and biotech sectors, AI is being utilized throughout the entire drug development cycle, from basic research to post-approval drug reassessment, significantly reducing development time and costs.
Market growth is also noteworthy. According to a report by the Korea Research Institute of Chemical Technology (KRICT), the AI drug development market is projected to grow from $1.8 billion in 2024 to $6.8 billion by 2029.
* This article has been translated by AI.
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