Oct 6 (Reuters) - Algen Biotechnologies said on Monday

it has agreed to grant AstraZeneca ( AZN ) a license to develop

gene therapies the U.S.-based biotech discovers using its

artificial intelligence-driven platform, in a deal worth up to

$555 million.

Under the deal, AstraZeneca ( AZN ) will get exclusive rights to

develop therapies that target immune system-related disorders.

The Anglo-Swedish pharmaceutical major will also get the right

to sell the treatments, if they get approved, while Algen will

get upfront and milestone payments.

AstraZeneca ( AZN ) has been advancing its cell and gene therapy

capabilities through acquisitions and partnerships as it works

towards its target of $80 billion in sales by 2030. Globally

too, drugmakers are increasingly turning to AI for drug

development.

The drugmaker in March agreed to buy Belgian biotech

EsoBiotec for up to $1 billion, gaining access to technology

that modifies immune cells directly inside the body.

Monday's deal, however, does not include AstraZeneca ( AZN )

buying a stake in the company, Algen CEO and co-founder Chun-Hao

Huang told Reuters in an interview.

"Together with AstraZeneca's ( AZN ) deep expertise in translational

science and clinical development, we aim to uncover new

biological insights to accelerate the development of novel

therapies," Huang said.

Algen was spun out from the lab at UC Berkeley, where

biochemist Jennifer Doudna pioneered the CRISPR technology that

won her the Nobel Prize.

The biotech firm's AI platform, AlgenBrain, can map genes to

disease outcomes, helping the companies decide their development

focus for therapies.

The Financial Times had first reported the news.