Eli Lilly Launches AI, Machine Learning Platform Called TuneLab For Biotech Companies

Eli Lilly and Company (LLY) on Tuesday announced the launch of an artificial intelligence and machine learning platform called Lilly TuneLab.

The platform provides biotech companies access to drug discovery models trained on years of Lilly's research data, Lilly said, while adding that it includes proprietary data obtained at a cost of over $1 billion. In return for access to the platform, selected biotech partners contribute training data, which will fuel improvement for the benefit of others in the ecosystem, it added.

On Stocktwits, retail sentiment around LLY stock stayed within ‘bearish’ territory over the past 24 hours, while message volume rose from ‘extremely low’ to ‘low’ levels.

"Lilly TuneLab was created to be an equalizer so that smaller companies can access some of the same AI capabilities used every day by Lilly scientists. By opening up access, we hope to accelerate the creation of new medicines for patients who need them," said Daniel Skovronsky, chief scientific officer and president of Lilly Research Laboratories and Lilly Immunology.

The platform, Lilly said, was developed through partnerships with leading global technology providers and AI experts. It is hosted by a third-party and employs federated learning, allowing member companies to train models while keeping their data in a private environment, segregated from Lilly and from other biotech users.

Lilly said that it also intends to extend the platform's features and capabilities beyond the initial release, including the addition of in vivo small molecule predictive models. An in vivo small molecule is a chemically synthesized compound with a low molecular weight that functions within a living organism to influence biological processes. They are often used in medicine to treat various diseases by altering cellular functions.

LLY stock is down 4% this year and approximately 19% over the past 12 months. 

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