By Interestana AI EditorialAI summary of reporting by STAT NewsHow we report
STAT+: Eli Lilly dives into hair loss treatments with investment in AI startup Absci
Eli Lilly invested $40 million in Absci on Wednesday, acquiring equity in the artificial intelligence drug discovery company. This investment marks Eli Lilly's expansion into hair loss treatments, a field alongside weight loss drugs like Wegovy and Mounjaro. Absci is developing a medication aimed at stimulating hair growth and potentially treating endometriosis. The funding round, led by Eli Lilly, totaled $50 million, with Absci contributing the remaining $10 million. Absci is a publicly traded company listed on the Nasdaq.
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