Big Pharma companies join hands with Amazon on new Israel-based AI incubator
What do Merck, Pfizer, AstraZeneca and Teva have in common with Amazon? As of Wednesday, they’re all joining forces with the Israel Biotech Fund to launch a new incubator for startups walking the line between AI and drug development — and they’re gearing up to make some big investments.
AION Labs plans to seed between four and six new biotech companies per year, starting in early 2022, CEO Mati Gill told Endpoints News. The funds should support two to four years of runway for each startup.
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