Flagship Pioneering launches $50M AI drug startup with Pfizer in tow

Flagship Pioneering unveiled Expedition Medicines, a new biotech focused on using AI and covalent chemistry to develop drugs for cancer and immune diseases, backed by $50 million and a partnership with Pfizer.

Why it matters: Expedition aims to crack the code on "undruggable" targets using generative AI, potentially accelerating drug discovery and improving success rates in hard-to-treat diseases.

Backstory: Flagship has a track record of creating high-profile biotech ventures. Expedition’s CEO, Molly Gibson, previously co-created Lila Sciences, another AI-powered Flagship startup that raised $200 million this year alone. This launch follows a 2023 Pfizer collaboration and builds on Flagship’s ongoing push to merge AI with life sciences.

Zoom in: Pfizer’s multiyear deal with Expedition focuses on prostate cancer research. Expedition is also not the only partner on Pfizer’s list, as other Flagship companies such as ProFound, Quotient, Ampersand, and Montai also have Pfizer tie-ins.

Big picture: AI is rapidly reshaping biotech, attracting billions in investment. While some AI-designed drugs have struggled in trials, others, like a recent cancer drug from Iambic, are starting to show clinical promise.