The artificial intelligence (AI)-based drug development corporation Syntekabio is seeing its stock price rise on news that the U.S. Food and Drug Administration (FDA) will gradually abolish animal testing and introduce alternative testing methods. There are expectations that using the AI platform instead of animal testing will yield benefits in drug development.
As of 9:17 a.m. on the 11th, Syntekabio is trading at 7,510 won, up 16.61% from the previous day in the Korea Securities Dealers Automated Quotations (KOSDAQ) market.
On this day, the FDA announced that it would gradually abolish the animal testing requirements needed for drug development and review approaches utilizing AI as an alternative technology. The FDA noted that it plans to replace animal testing with AI-based toxicity calculation models and organoid (mini-organ) tests.
Syntekabio possesses an AI platform that can be utilized in the development of biopharmaceuticals, including synthetic drugs, antibody therapeutics, and vaccines.