Canada-based AI-drug discovery company Phenomic AI has entered a strategic partnership and licensing agreement with pharmaceutical company Boehringer Ingelheim to discover crucial components in stroma-rich cancers.

To initiate the collaboration, Phenomic will receive approximate upfront and near-term payments of USD 9 million, with the potential to earn over USD 500 million in milestones and royalties on any future product sales.

The collaboration will focus on leveraging Phenomic's scTx single-cell transcriptomics platform to improve the treatment of stroma-rich cancers, such as colorectal and pancreatic cancers. Through this partnership, Boehringer Ingelheim will license Phenomic's validated targets and be responsible for non-clinical and clinical development along with the commercialization of associated cancer therapies.