Adnexus Biotechnologies Partners with 1606 Corp... SEATTLE, WA / ACCESSWIRE / September 17, 2024 / 1606 Corp. (OTC PINK:CBDW) (the "Company" or "1606") is pleased to announce it has signed a Letter of Intent to acquire a strategic stake in Adnexus Biotechnologies Inc., a pioneering company in Artificial Intelligence-driven innovations for early drug discovery and infectious disease research.
This potential strategic investment exemplifies 1606 Corp.'s commitment to advancing its technological capabilities and expanding its reach in the AI sector. Integrating Adnexus's cutting-edge AI research and development into its portfolio underscores 1606 Corp.'s aim to impact the AI sector, healthcare, and biotechnology significantly. This collaboration has the potential to push the boundaries of what is achievable in these fields.
Adnexus Biotechnologies Inc. operates an advanced AI-driven drug discovery and development platform called SUTRA. This platform, at the forefront of technological innovation, identifies specific sites and biomarkers for infectious and neurological diseases. The AI platform has successfully produced Fully Human, Broadly Neutralizing, durable monoclonal antibodies unaffected by virus mutations. The AI platform utilizes a repository containing data on 19 viruses, a curated library of 8 million molecules, and human microbiome samples. The goal is to create robust models and make significant advancements in producing groundbreaking drugs that demonstrate effectiveness and disrupt the landscape of treatments for infectious and neurological diseases.
Adnexus Biotechnologies' CEO, Gaurav Chandra, emphasizing Adnexus' unwavering dedication to advancing the frontiers of pharmaceutical development, stated, "Adnexus Biotechnologies Inc. is committed to pushing the boundaries of pharmaceutical development through its state-of-the-art AI platform, monoclonal antibodies, and HIV capsid inhibitor. The pre-clinical results of the HIV capsid inhibitor in combating HIV, and the Fully Human Monoclonal Antibody (Clone3), have become priced assets of Adnexus Biotechnologies' therapeutic portfolio. We are confident we will advance these molecules with the dedicated efforts of our team of accomplished scientists and executives with advanced chemistry, pharmacology, and drug development expertise." This dedication instills confidence in our ability to deliver impactful solutions.
Dr. Gaurav Chandra, expressing his enthusiasm about the strategic partnership with 1606 Corp. and emphasizing its significance, stated, "We are thrilled to embark on this strategic partnership with 1606 Corp. Their commitment to leveraging AI technology aligns perfectly with our mission to drive breakthroughs in drug discovery and infectious disease treatment. This collaboration represents a significant opportunity to enhance our technological capabilities and expand the impact of our innovative solutions."
Austen Lambrecht, CEO of 1606 Corp., commented, "We are pleased to enter into this agreement with Adnexus. Their pioneering work in AI-driven drug discovery and infectious disease treatment closely aligns with our commitment to leveraging advanced AI technologies to develop high-impact solutions. This collaboration significantly advances our efforts to diversify and strengthen our technological capabilities."
In order to close, the transaction must follow standard due diligence and fulfill certain conditions detailed in the LOI. Both companies are optimistic that this strategic partnership will deliver substantial shareholder value, drive technological advancements, and foster innovation in their respective fields. We will keep our stakeholders informed about the progress and any significant developments throughout the process.
https://www.accesswire.com/918717/adnexus-biotechnologies-partners-with-1606-corp-for-strategic-investment-to-revolutionize-ai-driven-drug-discovery