MedCity News October 17, 2021
Frank Vinluan

A new startup initiative in Israel aims to create and invest in startups that use artificial intelligence to address challenges in drug discovery and development. Called AION Labs, this innovation lab stems from an economic development effort from the Israeli government and will have contributions from AstraZeneca, Merck, Pfizer and Teva Pharmaceutical.

Four pharmaceutical industry giants are joining forces to back startups that apply artificial intelligence and computational biology to drug research.

AstraZeneca, Merck, Pfizer and Teva Pharmaceutical are contributing to an initiative called AION Labs. The pharmaceutical expertise of the life science companies will be combined with technology know-how from Amazon Web Services and the investment experience of the Israel Biotech Fund.

AION Labs will create and invest in...

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Topics: AI (Artificial Intelligence), Biotechnology, Pharma, Pharma / Biotech, Technology
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