AI Proteins, Inc. announced that it has entered a Research Collaboration and Option Agreement with Bristol Myers Squibb to discover and develop novel miniproteins-based therapeutics utilizing AI Proteins' powerful discovery platform. Under this collaboration, AI Proteins will leverage its proprietary AI-driven platform to design and optimize miniproteins against targets of interest to Bristol Myers Squibb. These de novo designed miniproteins, characterized by their small size and high affinity, have the potential to offer significant advantages over traditional antibody-based therapies, including improved tissue penetration and rapid clearance.

Under the terms of the agreement, AI Proteins will receive an upfront cash payment for the collaboration under which the company will discover and optimize miniproteins for two undisclosed targets. Bristol Myers Squibb has an option for an exclusive worldwide license to these miniproteins as well as two additional target options in exchange for an expansion fee and potential development, regulatory, and commercial milestone payments valued up to $400 million plus royalties on net sales.