A Farmington biotech startup formed by a trio of former top Alexion executives said it is working on drug discovery with an artificial intelligence company in the United Kingdom.
Rallybio, focused on rare diseases, has not yet publicly identified any drug candidates it’s pursuing, but that hasn’t stopped it from raising $37 million in venture funding.
Last week, Exscientia, which has an artificial intelligence-driven technology platform for drug discovery, announced it will work with Rallybio in seeking small molecule drug therapeutics.
The two companies have formed a joint venture called RE Ventures. Financial details were not disclosed.
Exscientia said AI can “fast track, simplify and lower the price of research.”
Steve Uden, chief operating officer at Rallybio, said the company believes the venture “will accelerate the development of life-transforming therapies for patients suffering from severe and rare disorders.”
Earlier this year, Exscientia announced a three-year drug discovery collaboration with Celgene, a publicly traded drug company headquartered in New Jersey.
