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AION Labs

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AION Labs is a venture studio established in 2021[1], backed by eight major companies in the pharmaceutical, technology, and investing sectors. This partnership includes pharmaceutical companies AstraZeneca, Merck KGaA, Pfizer, and Teva Pharmaceuticals; venture capital firms Israel Biotech Fund and Amiti Ventures; strategic partner Amazon Web Services; and independent research institute BioMed X, with support from the Israel Innovation Authority. AION Labs leverages artificial intelligence (AI) and machine learning (ML) to enhance pharmaceutical discovery and development processes.

Formation[edit]

AION Labs was formed after winning a tender in 2020[2], bringing together AstraZeneca, Merck KGaA, Pfizer, and Teva Pharmaceuticals, with Amazon Web Services (AWS), provider of cloud computing infrastructure, and VC firms Israel Biotech Fund and Amiti Ventures - focusing on biotech and deeptech. The Management team of the company includes CEO Mati Gill and CTO Dr. Yair Benita.

Approach and Strategy[edit]

AION Labs works to develop AI and computational-driven technologies aimed at changing the way the pharmaceutical industry conducts drug discovery and development. With access to scientific knowledge, data, and industry expertise, AION Labs aids in the creation of companies with long-term growth strategies specifically designed for the pharmaceutical industry. The studio’s venture creation model adapts the innovation model of BioMed X[3] and focuses on three key pillars:

  • Collaboratively identifying and delineating significant R&D challenges in drug discovery and development with partners, ensuring each challenge presents a genuine scientific/technological business opportunity and addresses a market need.
  • Assembling multidisciplinary teams of scientist-founders and innovators through an application process and a week-long innovation workshop, promoting solution development, teamwork, and leadership.
  • Offering essential resources, including an initial pre-seed investment of at least $1M, professional mentoring, proprietary data and access to an industry expert and investor network to foster the development of innovative solutions.

Recent Developments[edit]

In February 2023, AION Labs introduced[4] DenovAI Biotech, a venture dedicated to innovating antibody discovery through an AI-powered computational platform. DenovAI's technology aims to discover antibodies de novo, expediting and economizing the process.

In January 2024, AION Labs unveiled TenAces Biosciences[5], another venture in the field of molecular glue discovery using machine learning.

In March 2024, AION Labs launched CombinAble.AI[6], a startup contributing to the antibody design process.

Company Creation Tracks[edit]

AION Labs provides various tracks for company creation, serving scientists, entrepreneurs, and innovators from academia and industry.

Award Nominations[edit]

AION Labs has received the following nominations:

  • Prix Galien USA Award Nominations: Recognized in 2022[7] and 2023[8] for its work in AI and healthcare.
  • Most Valuable Collaboration Award by Reuters (2022)[9]: A finalist acknowledgment for partnership and collaboration within the pharmaceutical sector.

References[edit]

  1. AION Labs Overview[1]Startup Nation Central, March 3, 2024
  2. Biotech innovation lab formed by AstraZeneca, Merck, Pfizer and Teva[2] Bio Pharma Reporter, October 18, 2021
  3. BioMed X: Tackling the unmet need in biomedical research & development[3]Business Worldwide, April 20, 2020
  4. AION Labs launches second startup focused on AI-enabled antibody design[4]MobiHealth News, February 28, 2023
  5. AION Labs unveils TenAces start-up, will use AI to predict molecular glues[5]The Jerusalem Post, February 3, 2024
  6. AION Labs launches combinAble.AI to revolutionize antibody design with AI[6]Outsourcing Pharma, March 11, 2024
  7. AION, aMoon up for top scientific innovation award[7]The Jerusalem Post, August 1, 2022
  8. The Galien Foundation Announces 2023 Prix Galien USA Nominees for "Best Digital Health Solution," "Best Medical Technology," "Incubators, Accelerators and Equity," and "Best Startup"[8]PR Newswire via Galien Foundation, July 27, 2023
  9. Pharma Awards USA 2022 Winners[9]Reuters Events, 2022


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