Almirall And Absci Form AI Drug Discovery Partnership To Rapidly Develop Novel Treatments For Dermatological Diseases, Absci Entitled to up to $650M in Royalties and Earnout
Portfolio Pulse from Benzinga Newsdesk
Absci Corporation (NASDAQ:ABSI) has partnered with Almirall S.A. to develop AI-designed therapeutics for dermatological diseases. Absci will use its generative AI technology to create treatments for two targets, with potential earnings of up to $650 million in royalties and milestone payments.
November 14, 2023 | 7:19 am
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Absci's partnership with Almirall to develop AI-designed dermatological treatments could lead to significant financial gains, with up to $650 million in potential earnings.
The partnership with Almirall is a significant development for Absci, as it not only validates its AI drug creation platform but also provides a substantial financial incentive. The potential for up to $650 million in earnings is likely to be viewed positively by investors, potentially increasing the stock's value in the short term.
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