Bristol-Myers Squibb, Takeda, Astex Join AI Consortium to Train OpenFold3 for Accelerated Drug Discovery

Bristol-Myers Squibb Company (NYSE:BMY) is one of the most undervalued stocks to buy and hold for 5 years. On October 1, Bristol-Myers Squibb, Takeda Pharmaceuticals (NYSE:TAK), and Astex Pharmaceuticals agreed to collaborate and pool proprietary data for drug discovery using an AI model. These companies are joining an existing consortium that already includes AbbVie Inc. (NYSE:ABBV) and Johnson & Johnson (NYSE:JNJ).

The pharmaceutical companies will contribute data from several thousand experimentally determined protein–small molecule structures to train an AI model called OpenFold3. The initiative is using a federated data sharing model provided by Apheris, a life sciences company based in Germany. This model allows the aggregation of diverse data sets from multiple companies while ensuring that each sensitive dataset remains securely in its original location.

By pooling these extensive datasets, the goal of the initiative is to improve the accuracy of OpenFold3 in predicting the interactions between proteins and small molecules, which is a critical step in drug discovery and development. OpenFold3 is the flagship project of the industry-led AI Structural Biology Network, which is conducted in collaboration with the AlQuraishi Lab at Columbia University.

Bristol-Myers Squibb Company (NYSE:BMY) discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide.

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Disclosure: None. This article is originally published at Insider Monkey.