TheStreetReports: AI Biotech Stocks to Watch 2023: IPA, ONTX, AGEN, PBIO

April 24, 2023 at 19:38 PM EDT

One of the sectors to have always been known for its innovative approach is the biotech sector and over the years, the sector has always gone for the latest technology. The sector has now integrated artificial intelligence in a big way to come up with better solutions and nowadays there are plenty of companies that are doing so. Here is a quick look at four of those.

ImmunoPrecise Antibodies Ltd (NASDAQ: IPA) - ImmunoPrecise Antibodies Ltd is involved in research and technology for advancing systems biology, advanced artificial intelligence systems, and multi-omics modeling for advancing its proprietary technologies.

The company announced last month on March 30 that it had gone into an exclusive option license and collaboration agreement with the Astellas Pharma Inc subsidiary company Xyphos Biosciences Inc.

As per the provisions of the agreement, the company is going to be involved in joint research activities to optimize the LENS platform in silico-generated antibodies. It should be noted that it would be Astellaswhich would hold the exclusive option to license any of the development candidates which may be generated from the collaboration.

Previously in March, the company had also made a key announcement about its subsidiary unit BioKey. It was announced at the time that the EPO had awarded a 'Decision to Grant' with regards to the HYFT Technology from BioKey.

The technology is deployed to analyze and organize biological sequence information. It is a form of technology that provides a unique method for tapping into sequence information. It was a significant development for ImmunoPrecise Antibodies.

Onconova Therapeutics Inc (NASDAQ: ONTX) - Clinical stage biopharmaceutical firmOnconova Therapeutics Inc is another biotech company in this category that could well be worth tracking. The company is involved in the development of unique products to treat people with cancer.

Last week on April 19 Onconova Therapeutics came into the news cycle after it announced that the new preclinical data about its product narazaciclib had been turned into two poster presentations at the American Association for Cancer Research (AACR) Annual Meeting. It was a major new development for the company given the presentation of the data would bring considerable focus to its product and create interest among industry experts. It may be a good idea to perhaps keep an eye on the Onconova Therapeutics stock as well.

Agenus Inc (NASDAQ: AGEN) - The immune-cardiology firm Agenus Inc specializes in the development of immunological products which can help in treating cancer and infectious diseases. The company made a major new announcement last week on April 17 when it announced that its investigation of the combination of balstilimab and botensilimad had been awarded fast-track designation by the United States Food and Drug Administration.

The designation that had been provided had been for patients suffering from non-microsatellite instability-high (MSI-H)/deficient mismatch repair (dMMR) metastatic colorectal cancer. Patients who are treated with the particular designation are such who did not respond to traditional forms of treatment. However, at the same time, it ought to be noted that Agenus made plans to have a global randomized phase 2 trial.

Pressure Biosciences Inc (OTCMKTS:PBIO) - Pressure Biosciences Inc may be a well-known manufacturer of widely enabling pressure-based instruments but the company is currently better known for having come up with the development of its proprietary Ultra Shear Technology (UST).

By way of its patented technology, it has been possible for Pressure Biosciences to come up with a unique process for the creation of nanoemulsions with the deployment of high pressure. It could prove to be a game changer in more ways than one since the process nowadays involves the use of harmful chemicals on a large scale in the cosmetics and food markets in the present day.

The company has claimed that its Ultra Shear Technology could go on to play a significant role in several commercial industries. The Ultra Shear Technology platform consists of the use of intense shear forces emanating from high-pressure value discharge. Last week on April 21 Pressure Biosciences announced that it had decided to offer up to as many as five exclusive licenses for its UST platform for turning the oil-soluble THC concentrates in water into stable, water-soluble, and bioavailable nanoemulsions.

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TheStreetReports: AI Biotech Stocks to Watch 2023: IPA, ONTX, AGEN, PBIO

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