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Sunday, July 16, 2023 3:42:10 PM
This week, AI chipmaker Nvidia placed their bet — investing $50M into AI drug discovery platform Recursion Pharmaceuticals (NASDAQ:RXRX) — sending its stock up 78%.
Drugmakers are already benefiting from using AI to discover new drugs. And in the process, AI is speeding up and reducing the cost of the long and expensive drug development process.
Between 2015 and 2022, the cumulative investment in AI drug development has risen from under $1B to $24.6B.
In the next decade, Morgan Stanley expects AI will help develop an additional 50 drugs with an extra $50B in sales.
Following Nvidia’s investment, other AI drug discovery platforms rose on the news, including Exscientia (NASDAQ:EXAI), AbCellera Biologics (NASDAQ:ABCL) and Relay Therapeutics (NASDAQ:RLAY).
Recursion has five drugs, and Exscientia has three drugs discovered with AI, which are already in human trials. And within the startup sector, AI drug discovery has quickly become one of the hottest markets for investment.
I am writing a book, American Cars of 1958. Check often for the latest addition. https://investorshub.advfn.com/American-Cars-of-1958-37252/
Recent ABCL News
- AbCellera, Viking Global Investors, and ArrowMark Partners Collaborate to Launch New Biotech Companies • Business Wire • 05/01/2024 01:00:00 PM
- AbCellera Presents Data on T-Cell Engagers Against Four Tumor Targets at AACR 2024 • Business Wire • 04/08/2024 04:05:00 PM
- AbCellera to Report First Quarter 2024 Financial Results on May 7, 2024 • Business Wire • 04/03/2024 08:05:00 PM
- AbCellera to Present at the Bloom Burton Healthcare Conference on April 16, 2024 • Business Wire • 03/19/2024 08:05:00 PM
- AbCellera to Collaborate with Biogen to Discover Therapeutic Antibodies for Neurological Conditions • Business Wire • 03/11/2024 01:00:00 PM
- AbCellera Announces Four Presentations on T-Cell Engagers at AACR 2024 • Business Wire • 03/05/2024 09:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 07:12:58 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 09:49:40 PM
- AbCellera Announces Resignation of Board Member • Business Wire • 02/23/2024 09:30:00 PM
- AbCellera to Present at Upcoming Investor Conferences in March • Business Wire • 02/23/2024 01:15:00 AM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 02/20/2024 09:49:36 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/20/2024 09:27:58 PM
- AbCellera Reports Full Year 2023 Business Results • Business Wire • 02/20/2024 09:05:00 PM
- AbCellera to Report Full Year 2023 Financial Results on February 20, 2024 • Business Wire • 01/23/2024 09:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/16/2024 11:23:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/16/2024 11:21:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/16/2024 11:18:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/16/2024 11:14:23 PM
- AbCellera to Present at the 42nd Annual J.P. Morgan Healthcare Conference on January 10, 2024 • Business Wire • 12/20/2023 09:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/19/2023 11:08:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/28/2023 10:28:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/27/2023 09:45:10 PM
- AbCellera to Present at the Piper Sandler 35th Annual Healthcare Conference on November 30, 2023 • Business Wire • 11/16/2023 09:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/08/2023 08:29:53 PM
FEATURED NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
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Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM