DJ POLARIS(qb) and Syntekabio sign MOU for Collaborative AI and Quantum-powered Drug Development Service
Syntekabio Inc. POLARIS(qb) and Syntekabio sign MOU for Collaborative AI and Quantum-powered Drug Development Service 31-Aug-2023 / 16:30 CET/CEST The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- POLARIS^qb and Syntekabio sign MOU for Collaborative AI and Quantum-powered Drug Development Service NEWS RELEASE BY SYNTEKABIO, INC. Durham, NC | August 31, 2023 09:00 AM Eastern Daylight Time POLARISqb, the first company in the world to develop a drug discovery engine that utilizes the optimization power of quantum computing, announced that it has signed an MOU with Syntekabio (KOSDAQ: 226330), an Artificial Intelligence (AI) based drug development company. The partnership, which will combine the companies' vanguard drug research platforms, will provide a collaborative drug development service as well as develop new molecular leads. Through this business agreement, the two companies will discover active compounds with their respective AI and Quantum Computing platforms. Using these technologies, they will search for candidates with high druggability potential and offer these candidates to customers seeking novel molecular leads. POLARISqb is a quantum computing-based drug development company in Durham, North Carolina. As a leader in applying quantum computing in the world of drug discovery, the company has shortened the timelines for finding novel drug-like leads by orders of magnitude. In addition, POLARISqb has recently developed Quantum-Aided Drug Design (QuADD), a platform for generating new drug candidates using quantum annealing from exceptionally large molecular libraries. Using the increased optimization power of today's quantum computers, this process can be accomplished in days rather than months. In this partnership they will leverage this optimization potential of quantum annealing computers, allowing the company to search a chemical space of 1030 potential molecules, a space many times larger than other computational chemistry platforms. Based on its own cloud supercomputing infrastructure, Syntekabio prepares big genomic data and AI drug platform services for implementation throughout the entire life cycle of novel drug development processes. Their platform includes services from the discovery of active compounds to the development of pre-clinical stage drug candidates (called DDC Service: DeepMatcher® Drug Candidate Service), as well as genomic biomarker discovery and detection services. Syntekabio plans to diversify lead candidates by applying POLARISqb's QuADD platform in the lead generation stage of DDC service. In addition, the two companies plan to jointly market their offering to global markets with specific emphasis on the US, Europe, and Asia. Combining the advantages of POLARISqb's quantum-based system and Syntekabio's AI discovery platform enhances precision medicine. This partnership seeks to help develop treatments to address various conditions and diseases that affect millions around the globe. Shahar Keinan, co-founder and CEO of POLARISqb, said, "QuADD is a quantum computing-based platform that is relevant to the pharma global market, representing a commercialized quantum product in the field of new drug design." She added, "We expect to be able to find lead candidates quickly and efficiently in this partnership by providing new drug development services using Syntekabio's cloud supercomputer infrastructure and genome-based AI platform." Jongsun Jung, CEO of Syntekabio, said, "We are delighted that Syntekabio's DeepMatcher® and POLARISqb's QuADD can cooperate to provide a drug candidate discovery service. It will be of great help in expanding global business opportunities as we work together." For more information about POLARISqb and its offering, please visit: http://www.polarisqb.com/. For more information about Syntekabio and its offering, please visit: https://cloud.syntekabio. com/. Contact Details Ellie Woo, BD Director +1 212-371-2544 ellie.woo@syntekabio.com Company Website https://cloud.syntekabio.com/ =---------------------------------------------------------------------------------------------------------------------- Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =----------------------------------------------------------------------------------------------------------------------
1716365 31-Aug-2023
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(END) Dow Jones Newswires
August 31, 2023 10:30 ET (14:30 GMT)
