BenevolentAI (OTC:BAIVF) CEO Dr Joerg Moeller outlines the company's operational and corporate milestones for 2023, categorising achievements into five key areas: clinic operations, proprietary pipeline progress, platform enhancement, organisational growth, and financial management.
Moeller noted that BAI secured a significant deal with Merck KGaA worth up to $594 million for developing three clinical drug candidates in immunology and oncology. Collaborations with AstraZeneca have also advanced, focusing on target selection for diseases such as systemic lupus.
Progress was noted in Benevolent AI's proprietary pipeline, especially with a lead asset in ulcerative colitis expected to deliver Phase 1a study data. Additionally, advancements in glioblastoma treatment and ALS research were highlighted. Organisational developments included key executive appointments and an extended financial runway until mid-next year.
Moeller underscored the validation of the BAI platform through collaborations with the major pharmaceutical companies, positioning the company as a leader in AI-augmented drug discovery. The imminent release of data for a leading program in ulcerative colitis aims to introduce a new treatment with fewer side effects.
For 2024, the company plans to extend its financial runway, forge additional collaborations, and partner on pipeline assets, with expectations for another year of significant achievements.
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