AMD invests $20 million in Vancouver-based biotech firm Absci, which aims to develop new biologics using artificial intelligence. The partnership is seen as a way for pharmaceutical companies to leverage AMD’s AI chips and accelerate the development of protein-based medicines.
CEO Sean McClain said the partnership with AMD provides “unique advantage” and access to innovative AI solutions. The investment sent Absci shares up 11% in early trading, despite no disclosed price for AMD’s shares.
Absci has partnerships with AstraZeneca, Merck, and research institutes but none of its candidates have reached market yet. The company’s stock price is down 80% from its 2021 IPO.
Source: https://www.oregonlive.com/silicon-forest/2025/01/amd-invests-20-million-in-ai-drug-research-at-vancouver-based-absci.html