Atomwise Inc., a leading developer of healthcare software that uses AI to discover medicines and agricultural compounds, recently announced that it will be collaborating with Hansoh Pharmaceutical Group Company Limited, a leading Chinese biopharmaceutical company, to discover and design potential drugs for around eleven confidential target proteins in different therapeutic areas.

Dr. Abraham Heifets, CEO, Atomwise, stated that interesting scientific discoveries have been taking place in Asia and there is a tremendous potential for leadership in the field of innovative drug discovery.  Hansoh Pharma is the company’s first partner in Asia.

Dr. Heifets further commented that Hansoh Pharma has been committed towards innovation and shares the company’s goal to have a global impact on the health of the patients.

Apparently, scientific teams from Hansoh Pharma and Atomwise will be collaborating closely on the programs. The combination of Atomwise’s medicinal chemistry, protein structure expertise and AI technologies and Hansoh Pharma’s manufacturing, commercial capabilities and fully integrated research and development has the potential to compress timelines and dramatically increase success for clinical development and drug discovery.

As per the terms of the collaboration, Atomwise will be receiving option exercise fees, confidential technology access fees, royalties and asset sale under collaboration or income based on sublicensing. Considering the historical average revenues generated from small molecule drugs, it has been estimated that the potential value of the collaboration deal is projected to reach US$1.5 billion.

Atomwise Inc., had invented the first learning AI technology for the discovery of structure-based small molecule drug. Atomwise was created in 2012 and performs tons of projects every year partnering with the world’s largest agrochemical and pharmaceutical companies along with more than hundred hospitals and universities in about 19 countries.

The company has raised more than $50 million from some leading venture capital enterprises to encourage and support the application and development of its AI technology.

Source Credit- https://www.businesswire.com/news/home/20190911005824/en/Atomwise-Announces-Largest-China-US-Collaboration-AI-Drug