<div>
  <p>
    &lt;ul&gt;&lt;li&gt;In its Q2 financial and business results for the period ended June 30, 2022, Utah-based AI biotechnology company Recursion Pharmaceuticals posted a basic and diluted loss per common share of USD 0.38, up from USD 0.33 from the previous quarter, missing the analyst consensus estimate of USD 0.37. The company&rsquo;s revenue was up 45% compared to the last quarter to USD 7.7 million, mainly attributable to the revenue recognized from the 
    <a href="https://sp-edge.com/updates/7231">
      Roche-Genentech collaboration
    </a>
    .&lt;/ul&gt;
  </p>
  <ul>
    <li>
      <p>
        Recursion reported progress in its clinical development programs: 1) the ongoing active enrollment of participants for Phase II clinical trial (Sycamore) of REC-994 for cerebral cavernous malformation (CCM); and 2) the initiation of Phase II/III clinical trial (Poplar) of REC-2282 for neurofibromatosis type 2 (NF2). The company also plans to initiate a Phase II trial of REC-4881 for familial adenomatous polyposis (FAP) in Q3 2022 and a Phase I study of REC-3964 for clostridium difficile colitis in 2H 2022.
      </p>
    </li>
    <li>
      <p>
        The company highlighted a few milestones for the period including improving its transcriptomics platform to analyze up to 13,000 near-whole exomes per week, thereby building its databases. It also achieved high-quality results for 9 of 22 absorption, distribution, metabolism, excretion, and toxicity (ADMET) benchmark tasks, which are incorporated into Recursion&rsquo;s oncology programs.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.prnewswire.com/news-releases/recursion-provides-business-updates-and-reports-second-quarter-2022-financial-results-301602924.html">
      PR Newswire
    </a>
  </p>
</div>


AI Drug Discovery

Recursion misses EPS analyst estimate despite 45% QoQ revenue growth

PROMINENT_CATEGORY

<div>
 <p>BigHat Biosciences and Janssen Biotech have entered into a strategic partnership to develop novel therapeutics. The details of the collaboration, including financial terms, have not been disclosed. Their combined expertise in drug discovery and AI/ML will be harnessed for this initiative.</p>
 <p>The focus of the collaboration lies in discovering and verifying potential proteins, along with simplifying the design of antibodies and other treatments for various medical conditions, ranging from chronic illnesses to life-threatening diseases. The companies plan to achieve these objectives by deploying BigHat's AI/ML-powered platform, Milliner, in tandem with Janssen’s prowess in drug development and data science.</p> 
</div>

BigHat Biosciences collaborates with Janssen Biotech for next-gen protein therapeutics design

<div>
 <p>Insilico Medicine, an AI-based drug development company, and invoX Pharma, a global biopharmaceutical company, have formed a partnership to enhance research and development in oncology by using AI, computational services, and data science. The specifics and financial aspects of the partnership have not been revealed.</p>
 <p>Through the partnership, they intend to combine Insilico’s proprietary AI platform, PandaOmics, with invoX's drug discovery, development, and data science expertise to determine potential applications for drugs currently in development within invoX’s pipeline. The partnership also aims to train substantial AI models for deployment in multiple projects, thus fostering new uses across the duration of the partnership.</p>
 
</div>

Insilico Medicine and invoX Pharma collaborate to enhance oncology research and development through AI

<div>
 <p>Biotech company Integrated Biosciences has announced a strategic partnership with Project 8p Foundation to develop treatments for disorders related to chromosome 8p duplication, deletion, and inverted duplication deletion. Specific terms and financial details have not been revealed.</p>
 <p>Supported by this partnership, Integrated Biosciences will characterize and correct cellular stress responses in 8p cell lines, aiming to develop treatments for the related disorders. This effort could significantly help 8p patients who suffer from complex rearrangements of chromosome 8p's short arm.</p>
 <p>Using synthetic biology and AI, Integrated Biosciences specializes in the development of therapeutics for age-related illnesses. With their proprietary technology, they primarily control cellular stress responses. Such responses play a vital role in conditions like neurodegeneration, cancer, and diabetes.</p>
</div>

Integrated Biosciences and Project 8p Foundation partner to advance treatment for chromosomal disorders

<div>
<p>Xaira Therapeutics, an AI-powered biotech startup, has successfully secured an investment of over USD 1 billion. The funding round was led by Foresite Capital and ARCH Venture Partners, with contributions from NEA, Lux Capital, Sequoia Capital, and F-Prime.</p>
<p>The raised capital will be allocated to amplify Xaira's drug discovery and development platform which employs ML research, a wealth of data generation, and breakthrough product development technologies. The goal is to advance multiple drug programs over a diverse range of disease areas.</p>
<p>As an integrated biotechnology enterprise, Xaira aims to incorporate leading-edge AI tools to aid in improving the process of drug discovery and development. It aspires to create more effective therapies from a combination of product development, detailed biological and clinical data generation, and the application of AI techniques throughout every phase of the drug discovery and development process.</p>
</div>

Xaira Therapeutics launches with more than USD 1 billion investment

INCUMBENTS_PRESENT

<div>
 <p>Dublin-based digital pathology company Deciphex and Novartis are collaborating to develop AI tools to transform preclinical pathology evaluations in drug discovery and development. The partnership's specifics and financial details remain undisclosed.</p>
 <p>The primary focus of the collaboration lies in creating AI algorithms and tools to accurately detect and measure tissue lesions across multiple species. This advancement will help enhance the efficiency of pathology assessment in toxicological and efficacy studies. The companies are also striving for regulatory approval of the AI tools and digitizing Novartis's tissue slide collection.</p>
 <p>Deciphex, an Ireland-based company, specializes in developing digital pathology software solutions. Utilizing AI, it improves the efficiency of pathology services in clinical and research environments. Its primary product, Patholytix Preclinical, significantly accelerates the review process of pathology specimens by speeding up evaluations in drug safety assessments.</p>
 
</div>

Deciphex and Novartis partner to advance preclinical pathology with AI technology

<div>
 <p>Profluent Bio, a protein design company that utilizes artificial intelligence (AI), recently revealed the world’s first AI-based open-source gene editor, OpenCRISPR-1. This powerful tool can edit the human genome with precision, offering customizable gene editors. OpenCRISPR-1 is available for both reputable research and commercial licensing.</p>
 <p>The AI-developed OpenCRISPR-1 has a similar structure to Cas9 protein and guide RNA. Profluent's extensive language models (LLMs) were used to create this tool, which can generate a range of CRISPR-like proteins that do not naturally exist.</p>
 <p>Profluent Bio combines cutting-edge AI technology with thorough experimental validation. Their unique methodology is pushing the boundaries of protein design, particularly in regard to pioneering CRISPR gene editing technologies.</p>
</div>

Profluent debuts first-ever open-sourced AI gene editor

<div>
 <p>Cognivia, a company specializing in creating AI-based predictive analytical tools, has successfully raised 15.5 million Euros (about 16.5 million USD) in a funding round. Key investors included Vesalius Biocapital IV, SFPIM, and Wallonie Entreprendre. </p>
 <p>These funds will be used to increase the global reach of Cognivia's predictive clinical trial solutions, especially in the United States. The company plans to expand its team and establish a US subsidiary to support commercial and R&D partnerships.&nbsp;</p>
 <p>Previously known as Tools4Patient, Cognivia is a private firm located in Belgium. The company creates AI tools intended to improve and speed up drug development. Placebell and Compl-AI are some of the products that Cognivia offers, which aim to predict placebo responsiveness and ensure patient compliance in clinical trials.</p> 
</div>

Cognivia raises Euro 15.5 million in strategic funding to enhance AI/ML drug development

<div>
 <p>Nobias Therapeutics is now part of NVIDIA's Inception program. This arrangement will promote advancements in the biotech firm's drug discovery and development abilities using artificial intelligence (AI) and machine learning (ML).</p>
 <p>The Inception program by NVIDIA is developed to nurture startups involved in AI and data science. As a member of this program, Nobias will receive various benefits including access to NVIDIA's software development kits (SDKs), discounted or free hardware, training in deep learning, and expert support.</p>
 <p>Specializing in the development of treatments for rare and pediatric diseases, NoBias Therapeutics aims to enhance complex disease understanding and treatment. The company seeks to incorporate AI and machine learning techniques into clinical, molecular, and genomic datasets for this purpose.</p>
</div>

Nobias Therapeutics partners with NVIDIA’s Inception program to advance AI-based drug discovery

<div>
 <p>ProPhase Labs, a biotechnology company, has started a new cancer treatment research initiative called "Project ZenQ-AI". This project is aimed at discovering potential antibody-drug conjugate (ADC) candidates for the treatment of esophageal adenocarcinoma (EAC), a type of esophageal cancer.</p>
 <p>The company will use a combination of its AI platform, genomic database, and the data collected through the BE-Smart Test for EAC to design algorithms. These algorithms will be used to pinpoint potential ADC candidates for the development of new cancer treatments.</p>
 <p>ProPhase Labs is in the business of diagnostics, genomics, and drug development, covering 130+ countries with its Whole Genome Sequencing (WGS) tests. The company's core operations include producing drugs, like Over-the-counter (OTC) dietary supplements, conducting the BE-Smart esophageal cancer test, and providing genomic testing services.</p>
 
</div>

ProPhase Labs introduces Project ZenQ-AI to identify cancer-focused antibody drug conjugate drugs

<div>
 <p>AI pathology startup Path AI and R&amp;D cloud data management company TetraScience have formed partnerships with Google Cloud with the goal of expediting drug development and various other scientific research initiatives. The specific conditions and financial particulars of the partnerships are not disclosed.</p>
 <p>Under the terms of the partnership, PathAI plans to extend the reach of its proprietary AISight Intelligent Management System to biopharmaceutical firms globally. This will be achieved by integrating the AISight platform with Google Cloud’s worldwide distributed infrastructure. The AISight platform is utilized for developing AI models that have the capability to analyze patient tissue samples for diagnostic applications and clinical trials.</p>
 <p>The partnership between Google Cloud and TetraScience offers TetraScience the opportunity to leverage Google Cloud’s tools to streamline data processing and formatting procedures, thereby reportedly reducing the workload for scientific researchers. TetraScience has developed a platform capable of transforming raw data into an AI-native format that AI algorithms can process.</p>
</div>

All Updates