AstraZeneca has partnered with Absci to develop AI-generated models for creating new cancer antibody treatments.

The collaboration will use Absci's generative AI technology to optimize antibodies and design new ones.

Under the $247 million deal, Absci will generate potential synthetic antibodies, and AstraZeneca will cover research and development costs.

If the drug is successful, Absci will receive royalty fees.

This partnership is part of a growing trend of using AI in drug development.

AstraZeneca sees this collaboration as a chance to potentially speed up the drug development and screening process.