The University of Toronto Spinout Phenomic AI announces its strategic partnership with Boehringer Ingelheim.
In its new partnership with a global pharmaceutical company, Boehringer Ingelheim, Phenomic will receive an initial payment of $9 million and is eligible to receive more than $500 million in licensing fees and regulatory and commercial milestones.
The partners will identify novel targets for disrupting the tumour stroma, the structure that helps keep tumours intact, with the hope of advancing therapies for stroma-rich cancers, such as colorectal and pancreatic cancers.
While a Ph.D. student at UofT’s Department of Electrical and Computer Engineering, Oren Kraus was inspired to create Phenomic AI by his supervisor, Brendan Frey – who founded Deep Genomics. Oren, alongside biochemist Sam Cooper, participated in the UTEST program at the inception of the company and brought a wealth of expertise to the venture.
Read more about the strategic partnership: https://www.businesswire.com/news/home/20231129546391/en/Phenomic-Enters-Strategic-Collaboration-with-Boehringer-Ingelheim-to-Discover-Novel-Targets-for-Stroma-Rich-Cancer-Therapies