AstraZeneca PLC (AZN) Partners Modella AI for AI Drug Development

AstraZeneca PLC (NASDAQ:AZN) is one of the 10 best defensive stocks to buy in a volatile market. On July 4, the company entered into a multi-year agreement with Modella AI. The two are joining forces to accelerate AI-driven clinical development in oncology.

As part of the strategic partnership, AstraZeneca is to gain access to Modella AI’s multi-modal foundation models. The models feature rich data extraction from various types of data to accelerate the clinical development of the oncology portfolio.

“Through the use of foundation models, combined with our unique datasets and AI expertise, we are confident in our strategy to accelerate development and increase the probabilities of success in our oncology clinical trials,” AstraZeneca oncology research and development (R&D) chief AI and data scientist Jorge Reis-Filho stated.

AstraZeneca plans to leverage AI models for cancer research and development capabilities to enhance discovery and clinical development.

AstraZeneca PLC (NASDAQ:AZN) is a science-led biopharmaceutical company that focuses on the research, development, and commercialization of prescription medicines. It develops medicines for diseases in the areas of oncology, cardiovascular, renal, metabolism, respiratory, immunology, and rare diseases.

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