Thermo Fisher is entering a collaboration with OpenAI to “help to improve the speed and success of drug development,” the company announced today. Thermo Fisher is embedding OpenAI Application Programming Interfaces (APIs) into product development, service delivery, customer engagement and operational efficiency, the company said.
Thermo Fisher Scientific HQ in Waltham, MA. Credit: Thermo Fisher
Thermo Fisher said the collaboration will shorten the cycle time of clinical trials, accelerate the progression of new medicines to market and help quickly identify therapies that are unlikely to succeed. The company also plans to integrate AI into its Accelerator Drug Development solution, a suite of CDMO and CRO services.
“AI is shaping the future of science. And when combined with our Mission to enable our customers to make the world healthier, cleaner and safer, it is a powerful catalyst to accelerate scientific advancement,” said Marc Casper, Chairman, President and Chief Executive Officer, Thermo Fisher Scientific, in a press release.
Thermo stock on the rise
Thermo Fisher stock is up almost 3% today following the announcement.
Earlier this month, the stock climbed 9.79% on Oct. 1, following Thermo Fisher’s announcement of an R&D partnership with AstraZeneca BioVentureHub. As part of the collaboration, a team of scientists from Thermo Fisher will colocate with AstraZeneca scientists to work on projects focused on chromatography, molecular genomics and proteomics.
Last month, Thermo Fisher acquired Solventum’s purification and filtration business for approximately $4.1 billion and Sanofi’s sterile fill-finish and packaging site in New Jersey, expanding its manufacturing capabilities and deepening its partnership with Sanofi.
Like other companies in the pharmaceutical space, Thermo Fisher is investing heavily in U.S. manufacturing, possibly prompted by an emphasis on this from the current administration. In April, the company announced a $2 billion investment over four years in its operations in the U.S., with $1.5 billion going towards expanding manufacturing.
Thermo Fisher has also launched several new products this year, including their TruNarc Handheld Narcotics Analyzers, Obitrap Astral Zoom and Excedion Pro mass spectrometers and the Vulcan Automated Lab.
These moves make Thermo Fisher a strong competitor in the lab equipment and CDMO spaces.
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