Amgen inks $50M AI drug discovery deal

Amgen, a Thousand Oaks, Calif.-based biopharmaceutical company, will partner with Generate Biomedicines for a research collaboration agreement to discover and create five protein therapeutics for clinical targets.

Amgen will pay $50 million upfront to fund the five programs, with a potential transaction value of $1.9 billion plus future royalties, according to a Jan. 6 press release.

For each program, Amgen will pay up to $370 million in future milestones and royalties. It will also participate in a future financing round for Generate.

Cambridge, Mass.-based Generate Biomedicines is a company that uses machine learning and AI to program protein therapeutics.

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