An Introduction
AI-powered drug discovery holds massive potential to increase the accessibility of drugs and to treat presently incurable conditions given the promise of lower costs and shorter development timelines. According to Grand View Research the global "AI in drug discovery" market should expand at a compound annual growth rate of 30% clip between now and 2030 which Morgan Stanley believes will lead to an additional 50 novel therapies being brought to market over the next decade, with annual sales in excess of $50 billion! To that end, according to 2022 research by Boston Consulting Group, more than 150 small-molecule drugs were already in discovery and with more than 15 already in clinical trials.” Bottom line, a $50 billion AI drug discovery revolution is underway.
The munKNEE AI-powered Drug Discovery Stocks Index
The following 8 clinical-stage companies use AI to facilitate the discovery and development of new drugs and are constituents in munKNEE's AI-powered Drug Discovery Stocks Index. They are ranked below in order of their stock performances last week and YTD along a description of each companies focus of operations and any recent news, commentary, and/or analysis:
- BioXcel Therapeutics (BTAI): up 66.4% last week; up 19.0% YTD
- leverages existing approved drugs and/or clinically evaluated product candidates together with big data and machine learning algorithms to identify new therapeutic applications.
- recent news, commentary, and/or analysis:
- Recursion Pharmaceuticals (RXRX); up 30.3% last week; up 33.4% YTD
- has one of the world’s most extensive biological and chemical datasets and conducts millions of experiments per week using supercomputers, machine learning and automated robotic labs and has several compounds in phase 1 and 2 studies.
- recent news, commentary, and/or analysis:
- Absci Corporation (ABSI): up 24.0% last week; up 26.9% YTD
- is focused on antibody design, creating new from scratch antibodies (“de novo antibodies”), and testing them in laboratories in a 6-week process.
- recent news, commentary, and/or analysis: None
- Relay Therapeutics (RLAY): up 19.3% last week; down 1.5% YTD
- is developing an AI-driven allosteric drug-discovery platform to detect interactions that occur on a protein of interest with an initial focus on precision oncology and genetic diseases.
- recent news, commentary, and/or analysis:
- Schrödinger (SDGR): up 17.8% last week; down 9.2% YTD
- offers specialized solutions for both small molecule discovery and biologics discovery focusing on structure prediction and protein engineering, including antibody modeling.
- recent news, commentary, and/or analysis:
- AbCellera Biologics (ABCL): up 4.5% last week; down 6.5% YTD
- uses AI to focus on the search for, and analyzing of, the immune systems to find potential antibodies, then outsourcing their initial findings to their partners for further drug discovery.
- recent news, commentary, and/or analysis:
- Exscientia (EXAI): up 2.2% last week; up 8.0% YTD
- is collaborating with Bristol-Myers Squibb on a handful of drug candidates and has partnered with Sanofi, GSK and PathAI on drug discovery projects.
- recent news, commentary, and/or analysis:
- Lantern Pharma (LTRN): down 2.1% last week; down 3.3% YTD
- specializes in developing new classes of precision cancer drugs with novel mechanisms of action and “recycling” previously unsuccessful cancer drugs using machine learning algorithms, genomic data, and novel precision oncology biomarkers.
- recent news, commentary, and/or analysis:
Summary
The munKNEE AI-powered Drug Discovery Stocks Index was up 18.0% last week and is now up 1.9% YTD.
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