Multinational biopharmaceutical company AstraZeneca announced the successful acquisition of Life Sciences AI firm Modella AI, as per an official press release. The acquisition is expected to boost AstraZeneca’s own AI capabilities by folding Modella AI’s tech into its own offerings.
The official statement did not mention the exact figure for which Modella AI was acquired.
The update comes after Modella AI announced a multi-year partnership in which AstraZeneca was to integrate Modella’s main AI models for its R&D.
Formed in 1999 through the merger of Swedish company Astra and British firm Zeneca Group, AstraZeneca is credited with having developed the COVID-19 vaccine in collaboration with the University of Oxford.
At the time of writing, AstraZeneca shares were trading at 138.26 GBP (13,826 GBX), down by 2.08%.
“By joining AstraZeneca, we can apply our multimodal foundation models and agentic AI platform across a world-class oncology pipeline to accelerate development and help improve outcomes for patients with cancer,” said Modella’s CEO, Jill Stefanelli.