Algorae Pharmaceuticals (ASX: 1AI) has announced continued advancements to its Algorae Operating System (AlgoraeOS), an AI-driven drug discovery platform. Since its launch in September, the platform has identified 24 novel drug targets, focusing on oncology indications such as breast cancer, leukemia, and glioblastoma. The company is formalizing an agreement with an Australian research institution to begin preclinical validation studies, a key step in demonstrating the platform’s predictive capabilities.
AlgoraeOS Version 2.0 is under development, featuring expanded data integration and advanced machine learning enhancements, in collaboration with the AI Institute at the University of New South Wales and with support from Data61, the specialist arm of Australia’s CSIRO. Version 2.0 aims to improve predictive precision and broaden application across multiple disease classes, including novel fixed-dose combination therapies. In other advancements, in vitro studies of drug candidate AI-116 for dementia treatment showed it could outperform first-line treatment Donepezil. Algorae has filed a global Patent Cooperation Treaty (PCT) application and is planning a clinical trial for AI-116. A separate study on AI-168 for cardiovascular disease reported statistically significant cardioprotective effects exceeding those of beta blockers. The company will file a PCT application for AI-168 and refine its formulation with Monash University.
Algorae has appointed Vishal Shah as chief commercial officer. The company reported a cash balance of $2.59m at the end of March.
