Thermo Fisher Scientific Forms Collaboration With OpenAI to Accelerate Drug Development

MT Newswires Live

Oct 16

Thermo Fisher Scientific (TMO) shares were over 2% higher premarket Thursday after the company said it is collaborating with Microsoft-backed (MSFT) OpenAI to accelerate drug development.

As part of the collaboration, Thermo Fisher said it is embedding OpenAI's application programming interfaces into certain areas of its business, including product development, service delivery, customer engagement, and operational efficiency.

OpenAI's capabilities will also be deployed in Thermo Fisher's PPD clinical research business to improve the cycle time of clinical trials and accelerate the time to bring new medicines to market, the company said.

Microsoft has a long-standing partnership with OpenAI, starting with a $1 billion investment in 2019.

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