NEW YORK – Precision medicine bioinformatics company BioAI announced Wednesday that it formed a strategic collaboration with molecular diagnostics firm Genomic Testing Cooperative (GTC) to develop artificial intelligence (AI)-based tests to support both the pharmaceutical industry and clinicians.
Under the terms of the agreement, BioAI will train algorithms for product development and sponsored projects through access to GTC's characterized imaging data.
The companies will also jointly develop genomic biomarker screening algorithms and genomic profiling assays encompassing both DNA and RNA for tissue and liquid biopsies.
Financial details of the agreement were not provided.
"BioAI is excited to partner with leaders in clinical laboratory services and diagnostics such as GTC to support the development, validation, and future deployment of novel AI-based tests," BioAI CEO Thomas Colarusso said in a statement.
Jeff Owen, VP of marketing for GTC, added in a statement that "[w]e recognize that AI algorithms in digital pathology when combined with molecular profiling advance our capability of developing biomarkers that can be used by all pathologists."
GTC has entered a number of partnerships in recent years.
Last year, the Lake Forest, California-based company inked separate agreements aimed at developing precision oncology assays with Sysmex Inostics and Cota. It entered into a similar arrangement with Halo Diagnostics the year before.