48Hour Discovery and Quantum Intelligence Corp Join Forces to Form Quantum Intelligence Discovery (QID) - An AI-Powered Drug Discovery Venture
EDMONTON, Alberta--(BUSINESS WIRE)--48Hour Discovery Inc. (48HD) and Quantum Intelligence Corp. (QIC) announced today the establishment of a joint venture called Quantum Intelligence Discovery. This joint venture between the two start-ups is expected to establish a promising and advanced drug discovery pipeline by uniting cutting-edge drug discovery approaches to discover novel and highly potent molecules with unknown protein structures.
The rights of novel molecules developed through the partnership will be vested in the newly established joint venture entity Quantum Intelligence Discovery. QIC will hold a 60 per cent stake in the joint venture and 48HD will hold 30 per cent. QIC recently signed Memorandum of Understandings with Boryung Pharmaceutical, a major Korean pharmaceutical corporation, and Mediogen, a bio-venture specializing in probiotics. 48HD recently signed a joint research technology transfer contract with Korean biotech Novacell Technology (an affiliate of Donggu Biopharmaceutical) and has contracts with several global pharmaceutical companies.
Ratmir Derda, CEO of 48Hour Discovery Inc. said: “Through Quantum Intelligence Discovery we can develop an advanced drug discovery pipeline that reaps the benefits of our (48Hour Discovery) technology and QIC’s AI platform.”
Derda says plans are for the Quantum Intelligence Discovery platform to dovetail the genetically-encoded pipeline of 48HD with the QUEST pipeline of QIC to streamline de novo discovery with automated optimization of new drug candidates and their ADME/Tox properties. “This integrated pipeline will have the potential to enable discovery and optimization of advanced drug leads that are not amenable to targeting by contemporary AI-drug discovery approaches.”
Hwanho Choi, the CEO of Quantum Intelligence Corp. said: “We can maximize potential synergies by connecting QIC’s precise electron distribution technology optimizing chemical structure and 48HD’s rapid peptide testing technology together. With QIC contributing its unique artificial intelligence technologies to the JV entity, QID aims to discover novel molecules of unknown protein structures based on the various experimental peptides results.”
About 48Hour Discovery Inc.
48Hour Discovery Inc. is a University of Alberta biotechnology spin-off company that develops peptide-based therapeutic drugs from billion-scale libraries of molecules. It uses phage display and high throughput next-generation sequencing (NGS) to identify peptide ligands with high affinity for promising drug targets. Founded in 2017, 48Hour Discovery Inc. has a number of peptide discovery projects underway, including contracts with five of the top pharmaceutical companies in the world.
About Quantum Intelligence Corp
Seoul Korea basedQuantum Intelligence Inc, offers the complete solution for the early stage drug development utilizing advanced AI technology and neural network models. Its platform QUEST, explores vast conformational space of millions of compounds from chemical libraries, compares their quantum structures and properties.
For more information contact:
David Alton, VP Finance and Business Development, 48Hour Discovery Inc.
John Dwyer, VP Research, 48Hour Discovery Inc.
Hwanho Choi, CEO, Quantum Intelligence Inc.