Small AI biotech BioX­cel surges on pos­i­tive PhI­II re­sults, set­ting up de­men­tia and Alzheimer’s test

A small biotech added a few hun­dred mil­lion dol­lars in mar­ket val­ue Mon­day morn­ing af­ter an­nounc­ing pos­i­tive Phase III re­sults from their lead neu­rol­o­gy drug.

The drug, known as BX­CL501, comes from BioX­cel, one of a slate of biotechs that has raised mil­lions in re­cent years on the promise of us­ing ar­ti­fi­cial in­tel­li­gence and oth­er ad­vanced com­pu­ta­tion­al tech­niques to speed up the slug­gish pace of drug de­vel­op­ment. Sim­i­lar to the more promi­nent Re­cur­sion, the com­pa­ny aimed to use its tech to find com­pounds that oth­er com­pa­nies or re­searchers had val­i­dat­ed to some de­gree and re­pur­pose them, par­tic­u­lar­ly in the ar­eas of neu­rode­gen­er­a­tion, men­tal health and im­muno-on­col­o­gy.

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