AI Proteins and Bristol Myers Squibb Collaborate on Mini protein-Based Therapeutics in a Deal Valued at Up to $400 Million

AI Proteins, Inc., a biotechnology company specializing in computational de novo protein design, has announced a groundbreaking collaboration with Bristol Myers Squibb (NYSE: BMY) to discover and develop mini protein therapeutics. The partnership, established under a Research Collaboration and Option Agreement, is valued at up to $400 million and combines upfront payments, milestone incentives, and royalties.

AI Proteins will utilize its proprietary AI-driven discovery platform to design and optimize miniproteins against targets of interest identified by Bristol Myers Squibb. These de novo-designed mini proteins, known for their small size and high affinity, offer notable advantages over traditional antibody-based therapies, including enhanced tissue penetration and rapid clearance. By leveraging artificial intelligence, synthetic biology, and laboratory automation, AI Proteins aims to create next-generation therapeutic solutions with drug-like properties tailored to specific clinical needs.

“We are excited to partner with Bristol Myers Squibb to bring our cutting-edge protein design technology to the clinic,” stated Chris Bahl, PhD, President, CSO, and Founder of AI Proteins. “Our platform combines AI, synthetic biology, and laboratory automation to design and optimize novel miniproteins with ideal drug-like properties rapidly. By combining our expertise in protein engineering with Bristol Myers Squibb’s deep knowledge of pharmaceutical development, we aim to create a new generation of targeted therapies that can transform patient outcomes.”

Under the agreement, AI Proteins will receive an upfront cash payment to initiate the discovery and optimization of mini proteins for two undisclosed targets. Bristol Myers Squibb retains the option for exclusive worldwide licensing of these mini proteins and the ability to expand the collaboration to include two additional targets for an expansion fee. If the partnership reaches its full potential, it could result in development, regulatory, and commercial milestone payments totaling $400 million. Additionally, AI Proteins will receive royalties on net sales of any resulting products.

This collaboration marks a significant step forward for AI Proteins in applying its advanced computational platform to real-world therapeutic challenges. The company’s focus on de novo protein design represents a shift from traditional approaches, enabling the creation of highly specific, efficient, and versatile therapeutic proteins. For Bristol Myers Squibb, this partnership underscores a commitment to leveraging cutting-edge technologies to pursue innovative treatments that address unmet medical needs.

The strategic alignment of AI Proteins’ technological prowess with Bristol Myers Squibb’s expertise in pharmaceutical development sets the stage for transformative advancements in mini protein therapies. As the collaboration progresses, the medical and scientific communities will closely monitor the potential for these novel therapeutics to enhance patient outcomes and redefine standards of care.