Algorae Pharmaceuticals (ASX: 1AI) has achieved a significant milestone, securing a strategic partnership with the Victorian Centre for Functional Genomics (VCFG) at Melbourne’s Peter MacCallum Cancer Centre. Algorae Pharmaceuticals is focused on developing an AI-enabled drug discovery platform. The company’s AlgoraeOS is designed to predict synergistic drug combinations for various diseases, including cancer.
The collaboration is centred on the experimental validation of 21 in silico predictions generated by AlgoraeOS Version 1.0, along with three drug combinations identified through conventional scientific methods. The trial focuses on oncology-related predictions across brain, pancreas, breast, and prostate cancer cell lines. The partners will optimise cell growth kinetics and drug toxicity parameters, perform in vitro assessments of drug combination synergies and analyse synergies across empirically tested drug combinations.
Algorae anticipates releasing initial pre-clinical results from the program within the next six months. The company also confirmed ongoing development of AlgoraeOS Version 2.0, expected before the end of the year. Version 2.0 features enhancements to improve prediction accuracy, scalability, and performance, including new model architecture and multi-GPU processing.
At the end of June, Algorae reported a cash balance of $2.32 million, which includes an R&D rebate of $318,771 from the Australian government. The company reported net operating cash outflow for the quarter was $264,504, including R&D expenditure of $476,265. Algorae says it remains well-capitalised to achieve near-term clinical and commercial milestones.
