Benzinga | Nov 5, 2021 09:44AM EDT

Alphabet Introduces AI Company For Drug Discovery: All You Need To Know

* Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) launched an artificial intelligence company Isomorphic Labs, to discover new drugs, Financial Times reports.

* U.K.-registered Isomorphic Labs will use technology from its sister company DeepMind "to accelerate drug discovery, and ultimately, find cures for overwhelming diseases.

* DeepMind head Demis Hassabis would also become the CEO of Isomorphic Labs.

* In July, DeepMind showcased how its AlphaFold2 technology could precisely predict the shape of every protein in the human body.

* DeepMind's model takes a sequence of amino acids and maps its shape's twists and turns, solving tricky biological problems.

* DeepMind would use the technology to explore treatments for fatal diseases like Chagas disease and Leishmaniasis.

* Isomorphic Labs will partner with pharmaceutical and biomedical companies and is hiring scientists, engineers, and machine learning experts.

* The AlphaFold2 technology and database will remain open-sourced for external use.

* Price Action: GOOG shares traded higher by 0.24% at $2,980.80 premarket on the last check Thursday.