Aligned Genetics said on the 25th that U.S. Generative AI-based drug discovery company Generate Biomedicines announced an initial public offering (IPO) targeting a Nasdaq listing at the end of this month.
Generate is known as the corporations that produced the world's first case of a protein therapeutic designed by AI entering phase 3 clinical trials. Generate's core competitiveness is a Generative AI-based protein design technology called the "generative biology platform." AI trained on vast protein structures and biological data directly designs proteins and antibodies optimized for specific disease targets.
It structurally transformed the traditional new drug development approach that involved repeatedly testing thousands of candidates to screen them. While it is generally known that antibody drugs take eight to 10 years to reach phase 3, Generate's severe asthma treatment "GB-0895," developed using AI, entered phase 3 in about four years.
Generate's technological prowess has also led to the choice of global capital. Global big techs such as Nvidia, Novartis, and Amgen moved to make strategic investments and partnerships, including the Samsung Life Science Fund, which is backed by Samsung Biologics and Samsung C&T.
Meanwhile, Aligned Genetics participated in Generate's Series B round in Oct. 2021 as the first domestic strategic investor. It was a preemptive investment made before the full-scale participation of the Samsung fund and global corporations. Observers say it laid the groundwork early for a structural paradigm shift integrating AI and bio.
Generate's Nasdaq listing is drawing expectations as an opportunity to set a global valuation benchmark for AI drug platform corporations. In particular, as Aligned Genetics has recently accelerated its transition into an "AI Robotics healthcare corporations" that fuses AI, Robotics, and bio data, it is expected to serve as a strategic link leading to technological collaboration, joint research, and expansion of the global network.
An Aligned Genetics official said, "It is very meaningful that we joined as an early strategic investor at a historic moment when an AI-designed new drug enters phase 3 and the corporations lists on Nasdaq," adding, "We will continue to grow into an AI Robotics healthcare corporations through strategic partnerships with global innovative technology corporations."