PostEra has unveiled the extension of its current strategic partnership with Pfizer. PostEra and Pfizer will jointly develop several drug discovery initiatives, with an initial focus on cancer and COVID-19 antiviral therapeutics, as part of the expanded multi-target research effort. The AI Lab will use revolutionary machine learning for medicinal chemistry relying on Pfizer data as well as PostEra’s pioneering innovations in generative chemistry and synthesis-aware design.
PostEra will receive a $13 million upfront payment and is eligible for additional milestone payments totaling up to $248 million if all milestones are achieved, in addition to tiered royalties on any authorized products resulting from the alliance.
The AI Lab will intimately combine drug discovery and technology development to provide a constant feedback loop that refines both the process and the platform’s predictions. The AI Lab’s vision is to combine Pfizer’s knowledge and data with PostEra’s technology to enhance these drug discovery activities, while also producing an integrated state-of-the-art platform that will be implemented throughout Pfizer’s in-house, preclinical drug discovery efforts.
Dr. Alpha Lee, Chief Scientific Officer, PostEra, said, “We think the best way to build leading technology is to have its development tightly integrated with live drug discovery programs.” Aaron Morris, CEO, PostEra, added, “We’re pleased that we are expanding the existing collaboration to do exactly this and to reap the AI advantage in improving preclinical drug discovery.”
Charlotte Allerton, Medicine Design Head, Pfizer, said, “At Pfizer, we believe digital technologies, including artificial intelligence and machine learning, hold great potential to aid the discovery of novel approaches to prevent, cure, and treat disease for patients in need. We’re excited to extend our collaboration with PostEra to further build on our current capabilities.”
The company also announced its $24 million Series A funding. PostEra will be using the new funding to extend its partnered drug discovery programs, launch internal drug discovery initiatives, and further enhance its AI-first medicinal chemistry platform.
