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AION Labs
AION Labs is a venture studio established in 2021, backed by eight major companies in the pharmaceutical, technology, and investing sectors. This partnership includes pharmaceutical companies AstraZeneca, Merck KGaA , Pfizer , and Teva Pharmaceuticals  ; venture capital firms Israel Biotech Fund and Amiti Ventures  ; strategic partner Amazon Web Services ; and independent research institute BioMed X , with support from the Israel Innovation Authority. AION Labs leverages artificial intelligence (AI) and machine learning (ML) to enhance pharmaceutical discovery and development processes.

Formation
AION Labs was formed after winning a government tender in 2020, bringing together AstraZeneca, Merck KGaA, Pfizer, and Teva - from the pharmaceutical sector - with Amazon Web Services (AWS), a technology and cloud computing provider, and biotech and deeptech VC firms Israel Biotech Fund and Amiti Ventures. The Management team of the company includes CEO Mati Gill and CTO Dr. Yair Benita.

Approach and Strategy
AION Labs strives to develop AI and computational-driven technologies aimed at changing the way the pharmaceutical industry conducts drug discovery and development. With access to scientific knowledge, data, and industry expertise, AION Labs aids in the creation of companies with long-term growth strategies specifically designed for the pharmaceutical industry. The studio’s venture creation model leverages the innovation model of BioMed X and focuses on three key pillars:
 * Collaboratively identifying and delineating significant R&D challenges in drug discovery and development with partners, ensuring each challenge presents a genuine scientific/technological business opportunity and addresses a market need.
 * Assembling multidisciplinary teams of scientist-founders and innovators through an application process and a week-long innovation workshop, promoting solution development, teamwork, and leadership.
 * Offering essential resources, including an initial pre-seed investment of at least $1M, professional mentoring, proprietary data and access to an industry expert and investor network.

Recent Developments
In February 2023, AION Labs introduced DenovAI, a venture dedicated to innovating antibody discovery through an AI-powered computational platform. DenovAI's technology aims to discover antibodies de novo, expediting and economizing the process.

In January 2024, AION Labs unveiled TenAces Biosciences, another venture aimed at pioneering the field of molecular glue discovery using machine learning. Formed from AION Labs' initiative to develop AI platforms for targeted protein degradation, TenAces aims to expedite the discovery and development of novel molecular glue therapies.

In February 2024 the latest challenge in the space of AI/ML Platform for Targeting RNA with Small Molecules was launched via a Call for Applications.

In March 2024, AION Labs launched CombinAble.AI, a startup born from an AION Labs' startup challenge, aiming to revolutionize the antibody design process.

Company Creation Tracks
AION Labs provides various tracks for company creation, serving scientists, entrepreneurs, and innovators from academia and industry, including AION Building and AION Seeding, among others, each designed to support different stages of company development.

Award Nominations
AION Labs has received the following award nominations reflecting its work in healthcare:
 * Prix Galien USA Award Nominations: Recognized in 2022 and 2023 for its work in AI and healthcare.
 * "Most Valuable Collaboration Award" by Reuters Pharma Awards USA 2022 : A finalist acknowledgment for partnership and collaboration within the pharmaceutical sector.