Multinational pharmaceutical and biotech company Pfizer and AI-powered data company Tempus announced a multi-year strategic alliance to utilize AI and machine learning to inform drug discovery and development in oncology.
Pfizer will leverage Tempus’ library of de-identified data to accelerate therapeutic development in oncology. It will also use Tempus’ AI-driven companion diagnostic offerings and clinical trial matching program to support therapeutic research and development.
“Pfizer shares our commitment to bringing novel treatments to patients faster, and we look forward to working together to usher in the next generation of oncology therapeutics,” Eric Lefkofsky, founder and CEO of Tempus, said in a statement. “This is the third strategic collaboration Tempus has established with a global pharmaceutical leader in the last year, as we believe that combining our technological capabilities with pharma’s deep R&D expertise will get us much closer in realizing the full potential of precision medicine.”
THE LARGER TREND
Tempus is no stranger to partnering with pharma giants for oncology care.
Last year, the company announced a three-year agreement with British multinational pharmaceutical and biotech company GSK, which included a $70 million initial payment to accelerate drug discovery in oncology, identify drug targets, improve its clinical trial design and speed up trial enrollment.
The Chicago-based company also announced a collaboration with American pharma company Eli Lilly to broaden access to genomic testing for patients with advanced/metastatic non-small cell lung cancer.
In 2021, Tempus announced a strategic collaboration with British-Swedish multinational pharmaceutical and biotechnology company AstraZeneca to advance drug discovery and development in oncology.
Last year, the company announced it scored $275 million in funding through a combination of debt financing and equity from existing investors, bringing its total raise to $1.3 billion.
Other players utilizing AI for drug discovery in oncology include AI-enabled pathology company PathAI and tech company Exscientia.
