AstraZeneca has entered a collaboration worth up to $555 million with Algen Biotechnologies to co-develop next-generation gene therapies.
The agreement covers early research, candidate optimization, and clinical development for multiple genetic disease targets.
Under the terms, AstraZeneca will provide capital, scientific resources, and manufacturing support, while Algen contributes its proprietary gene therapy platform.
The partnership highlights a growing trend of legacy pharmaceutical companies collaborating with emerging biotech startups to accelerate innovation in precision medicine.
This agreement is part of AstraZeneca’s broader strategy to use artificial intelligence and machine learning to enhance drug discovery and accelerate the development of new medicines.
Source: Reuters