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Investing.com — Palantir Technologies Inc’s (NYSE:PLTR) Foundry data-analysis platform will help power efforts by Dewpoint Therapeutics to discover treatments and cures for the most challenging diseases.
The partnership announced Monday is the latest in a long line for Palantir, which announced the extension of a partnership with the U.S. Army Vintage program last week and a new partnership with Merck KGaA at the beginning of the month.
The Foundry platform is intended to help enable researchers at Dewpoint — a biomolecular condensates company — to advance their understanding of condensates biology by analyzing lab and other data to “identify new compounds and therapeutic approaches.”
In addition, Dewpoint will use Foundry as the main platform for its centralized knowledge repository.
Palantir described the multi-year deal as one of its most comprehensive partnerships with a biotechnology company.
Palantir shares fell more than 5% in Monday’s session.
“We think Dewpoint is changing the way the world approaches drug design by exploring new frontiers of disease biology, requiring a game changing solution that goes beyond just cloud and infrastructure to drive their R&D and scale with their vision as they grow,” stated Lalarukh Haris Shaikh, Palantir’s head of biotech.
