Oxford, Evotec ramp up LAB10x with AI experts at Sensyne — focused on biotech spinouts
Oxford is allying itself with Evotec and artificial intelligence outfit Sensyne Health to ramp up some new biotech spinouts while looking to “accelerate data-driven drug discovery and development.”
The big idea here is that Oxford scientists — some of the best drug hunters in the world — can utilize Sensyne’s AI platform for their work, relying on the chemists and hands-on developers at Evotec to push ahead to a critical proof of concept moment. And they’ll do it through a project leader called LAB10x, which gets £5 million over the next three years to fund the work.
For their services, Sensyne and Evotec get equity in any of the startups — alongside Oxford researchers — and also have an opportunity to invest in seed rounds of any of the spinouts coming out of Oxford.
Still a nascent field, a host of big biopharma companies and contract groups have been allying themselves with the first generation of AI experts out to see what they can learn from large datasets that can drive new therapies in the clinic. The jury’s still out on just how effective they’ll be, or how long it will take, but no one wants to be left behind.
Evotec chief Werner Lanthaler had this to say in a prepared statement:
The medicine of the future will see radical change, driven by the continuing expansion of drug discovery technologies like artificial intelligence and healthcare mega trends like digital health. Evotec and our partners will continue to invest in these areas and we are pleased to launch LAB10x with Sensyne Health, OSI, OUI, and the University of Oxford. Today’s announcement demonstrates the power of forming public-private partnerships in drug discovery to create the next generation of medicines in an effective and efficient manner.