Oct 23 (Reuters) - Pathos AI said on Friday it had entered into a collaboration with Bristol Myers Squibb and Tempus AI to develop artificial intelligence tools for drug development in Alzheimer's disease and other neurological disorders.
Pathos AI also raised $237 million in a Series E funding round led by Bristol Myers that valued the New York-based company at about $3 billion, with participation from existing investors.
Here are some other details:
• Tempus will build a dataset from hundreds of thousands
of patients with neurological disorders to help track outcomes and speed research into disease biology
• Pathos will license the data from Tempus under a five-year, $55 million agreement
• Pathos will apply its AI platform, Pathos Foundry, to study the dataset at scale, generate and test hypotheses on disease biology, and inform the design of more targeted, adaptive clinical trials
• Bristol Myers will gain non-exclusive strategic access to Pathos Foundry across its broader portfolio, as well as three-year exclusive rights to use the platform for its neuroscience development programs
• Proceeds from the financing will be used to further scale the Foundry platform's capabilities and accelerate development of its AI-driven pipeline, including advancing experimental cancer drug, JSKN016
• The funding will help advance development of other cancer programs including an AstraZeneca-partnered experimental breast cancer drug
(Reporting by Sriparna Roy in Bengaluru; Editing by Maju Samuel)
