- Marketplace and partnership promote information sharing and collaboration across the biopharma industry to accelerate new drug discovery and development.
- BenevolentAI will provide its AI technology to evaluate drug repurposability and indication expansion in the 9xchange marketplace
Tel Aviv, Israel, 16 May 2023: 9xchange, a biopharma marketplace created for innovators to match, buy and sell drug assets, today announces it has partnered with BenevolentAI (“BenevolentAI” or the “Company”) (Euronext Amsterdam: BAI), a leading AI-enabled drug discovery and development company. The partnership aims to leverage BenevolentAI's AI-enabled technology to support decision-making related to indication expansion and drug repurposing for assets within the 9xchange platform.
The 9xchange marketplace is a curated, members-only biopharma marketplace that matches asset buyers and sellers and removes friction by anonymizing, automating and enhancing many steps required to get a deal done. CEO and Founder Anat Naschitz also co-founded and co-led OrbiMed Israel, where she built companies such as pharma spinout 89bio (Nasdaq:ETNB).
The power of BenevolentAI’s AI technologies will help 9xchange marketplace members, including biotech and pharma partners, VCs, investors, and select academic institutions, to investigate hypotheses on potential new indications for a given asset and ultimately transact based on these findings. By combining BenevolentAI's proven AI-enabled engine with the 9xchange platform, the partnership aims to uncover untapped potential in therapeutic portfolios, create new opportunities for drug discovery and pave the way for developing new treatments with unforeseen partners. BenevolentAI will provide insights related to the potential for repurposability and indication expansion of assets on the 9xchange platform, utilising an enhanced version of the workflows that helped identify baricitinib as a treatment for COVID-19 in early 2020.
Anat Naschitz, CEO & Co-Founder at 9xchange, said: "There is demonstrable value in deploying new scientific insights against existing, de-risked assets and bringing them to patients quickly and safely. Often, and increasingly given current markets, the right therapy is languishing on the shelf of biotech and pharma companies whose focus has shifted, or whose resources are insufficient to finance rich pipelines built when capital was abundant. As an investor and entrepreneur, I have experienced the inefficiency of finding the right match and completing a transaction. 9xchange was created to address all that and more. We are thrilled to partner with BenevolentAI, whose technology and capable team expand the solution space by adding repurposing insights, multiplying matches and value.”
Matt Fujisawa, SVP of Strategy, BenevolentAI, said: “Many drugs have failed in one area, but have the potential to work in other indications in a safe and efficacious way. This partnership unleashes this potential in the discovery of new therapeutic applications. By combining BenevolentAI’s powerful AI technology with the 9xchange platform, asset owners unlock trapped value while buyers acquire assets with newly-identified indications that were previously unknown or unexplored.”
9xchange co-founder and CEO
BenevolentAI, VP Communications
T: +44(0) 203 781 9360
9xchange is a biopharma marketplace, unlocking the value of unloved, underfunded or hidden assets through a seamless, initially anonymous, online platform. 9xchange matches buyers and sellers who did not know they were mutually relevant and removes friction by automating or enhancing many of the steps required to get a deal done. Market dynamics often mean better terms. The curated, member-only platform includes leading pharma companies, prominent VCs, biotech companies and select academic institutions. 9xchange leverages decades of transaction and tech experience as well as the networks of its founders, across VC and company creation, and is grateful for and to its stellar advisory board composed of pharma industry leaders. Please visit us at www.9xc.co.
BenevolentAI (AMS: BAI) is a leading AI-enabled drug discovery and development company listed on the Euronext Amsterdam stock exchange. Through the combined capabilities of this AI platform, its scientific expertise, and wet-lab facilities, BenevolentAI is well-positioned to deliver novel drug candidates with a higher probability of clinical success than those developed using traditional methods. The Benevolent Platform™ powers the Company’s in-house drug pipeline and supports successful collaborations with AstraZeneca, as well as leading research and charitable institutions. BenevolentAI is headquartered in London, with a research facility in Cambridge (UK) and a further office in New York.
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "plans", "targets", "aims", "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "should" and similar expressions. Forward-looking statements include statements regarding objectives, goals, strategies, outlook and growth prospects; future plans, events or performance and potential for future growth; economic outlook and industry trends; developments in BenevolentAI’s markets; the impact of regulatory initiatives; and/or the strength of BenevolentAI’s competitors. These forward-looking statements reflect, at the time made, BenevolentAI’s beliefs, intentions and current targets/aims. Forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The forward-looking statements in this release are based upon various assumptions based on, without limitation, management's examination of historical operating trends, data contained in BenevolentAI’s records, and third party data. Although BenevolentAI believes these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond BenevolentAI’s control. Forward-looking statements are not guarantees of future performance, and such risks, uncertainties, contingencies and other important factors could cause the actual outcomes and the results of operations, financial condition and liquidity of BenevolentAI or the industry to differ materially from those results expressed or implied by such forward-looking statements. The forward-looking statements speak only as of the date of this release. No representation or warranty is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved.
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