Partex NV and Fortress Biotech, Inc. (FBIO) have entered into a strategic collaboration aimed at accelerating the identification and evaluation of biopharmaceutical assets using Partex's proprietary AI-based drug discovery and development platform.
The collaboration will leverage Partex's advanced AI technology to deliver diverse recommendations on alternative targets, indications, and potential compounds across therapeutic areas.
This will help expedite the process of identifying, evaluating, and potentially acquiring or licensing promising biopharmaceutical assets for Fortress.
Partex's platform will provide comprehensive analyses, including target identification, indication expansion, and molecular profiling, allowing for a more efficient and data-driven approach to bring innovative therapeutics to market faster.
Lindsay Rosenwald, M.D., Chairman, President, and CEO of Fortress, highlighted the collaboration's role in enhancing Fortress's business development strategy and helping the company expand its portfolio efficiently.
The collaboration will allow Fortress to use AI to scale its asset identification process more effectively, driving long-term value for shareholders.
Both companies are committed to utilizing AI technology to its fullest potential, aiming to expedite the in-licensing of differentiated biopharmaceutical assets.
Currently, FBIO is trading at $1.73 up by 3.57 percent on the Nasdaq.
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