AstraZeneca signs up to $555 million deal with US-based Algen to develop gene therapies

Core Insights - Algen Biotechnologies has entered into a licensing agreement with AstraZeneca for the development of gene therapies utilizing Algen's AI-driven platform [1] Company Summary - Algen Biotechnologies is leveraging its artificial intelligence technology to discover gene therapies, which will now be developed by AstraZeneca under the new licensing agreement [1] - AstraZeneca will gain access to Algen's innovative platform, potentially enhancing its capabilities in gene therapy development [1] Industry Summary - The collaboration highlights the growing trend of integrating artificial intelligence in biotechnology, particularly in the field of gene therapy [1] - This partnership may signify a shift towards more technology-driven approaches in drug development within the biotech industry [1]