AI Proteins, a biotechnology company that uses computational de novo protein design to create therapeutic miniproteins, announced last week an agreement with Bristol Myers Squibb (BMS) to discover and develop novel miniprotein-based therapeutics using AI Proteins’ discovery platform. The deal could be worth up to $400M plus royalties on net sales.
Miniproteins comprise: a peptide that folds into a highly stable structure, optional disulfide bonds, canonical amino acids without post translational modifications, entirely novel composition of matter designed to be non-immunogenic, and more. Notably, the company says, “because drug-like properties are designed into the miniproteins from the start, every molecule with optimized activity is ready to begin pre-clinical studies.”
AI in drug discovery is one of the most active areas of biotech deal-making right now. There has been a steady stream of deals the last two years, but just within the last few months:
- In early December, artificial intelligence start-up Generate:Biomedicines signed a deal worth up to $1B with Novartis.
- In early September, Eli Lilly partnered with RNA specialist Genetic Leap in a deal worth up to $409 million in upfront and milestone payments. Genetic Leap is built on AI models designed to support the discovery of RNA-targeted drugs.
- In October, Eli Lilly and Insitro entered into a deal covering three drug development projects. Insitro specializes in applying machine learning to drug discovery. The value of the deal was not revealed.
Under their deal, AI Proteins will use its proprietary AI-driven platform to design and optimize miniproteins against targets of interest to Bristol Myers Squibb. AI Proteins says these de novo designed miniproteins, characterized by their small size and high affinity, have the potential to offer significant advantages over traditional antibody-based therapies, including improved tissue penetration and rapid clearance.
“We are excited to partner with Bristol Myers Squibb to bring our cutting-edge protein design technology to the clinic,” said Chris Bahl, PhD, president, chief scientific officer, and founder of AI Proteins. “Our platform combines AI, synthetic biology, and laboratory automation to rapidly design and optimize novel miniproteins with ideal drug-like properties. By combining our expertise in protein engineering with Bristol Myers Squibb’s deep knowledge of pharmaceutical development, we aim to create a new generation of targeted therapies that can transform patient outcomes.”
Under the terms of the agreement, AI Proteins will receive an upfront cash payment for the collaboration under which the company will discover and optimize miniproteins for two undisclosed targets. Bristol Myers Squibb has an option for an exclusive worldwide license to these miniproteins as well as two additional target options in exchange for an expansion fee and potential development, regulatory, and commercial milestone payments valued up to $400M plus royalties on net sales to the biotech.
AI Proteins aims to re-imagine protein therapeutics with its novel design approach. Using AI-based design and a high-throughput drug discovery platform, AI Proteins creates de novo miniproteins optimized for a variety of therapeutic targets for its own pipeline in oncology. Meanwhile, the company has also been exploring partnerships in inflammation and metabolic diseases.
