- Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) launched an artificial intelligence company Isomorphic Labs, to discover new drugs, Financial Times reports.
- U.K.-registered Isomorphic Labs will use technology from its sister company DeepMind “to accelerate drug discovery, and ultimately, find cures for overwhelming diseases.
- DeepMind head Demis Hassabis would also become the CEO of Isomorphic Labs.
- In July, DeepMind showcased how its AlphaFold2 technology could precisely predict the shape of every protein in the human body.
- DeepMind’s model takes a sequence of amino acids and maps its shape’s twists and turns, solving tricky biological problems.
- DeepMind would use the technology to explore treatments for fatal diseases like Chagas disease and Leishmaniasis.
- Isomorphic Labs will partner with pharmaceutical and biomedical companies and is hiring scientists, engineers, and machine learning experts.
- The AlphaFold2 technology and database will remain open-sourced for external use.
- Price Action: GOOG shares traded higher by 0.24% at $2,980.80 premarket on the last check Thursday.
Benchmark Maintains Buy on Spotify Technology, Raises Price Target to $130
Benchmark analyst Mark Zgutowicz maintains Spotify Technology (NYSE:SPOT) with a Buy and raises the price target from $125 to $130.
