Thermo Fisher Scientific to Accelerate Life Science Breakthroughs with OpenAI

Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving science, announced plans to further increase the impact of Thermo Fisher's proven growth strategy through the use of artificial intelligence (AI) with OpenAI. This collaboration will help to improve the speed and success of drug development, enabling customers to get medicines to patients faster and more cost effectively.

Working with OpenAI, Thermo Fisher is focusing on accelerating scientific innovation, enhancing productivity and reducing complexity. As part of this collaboration, Thermo Fisher is embedding Open AI APIs (Application Programming Interfaces) into critical areas of its business - ranging from product development, service delivery, customer engagement and operational efficiency.

The collaboration will:

• Deploy OpenAI advanced capabilities to one of the highest impact initial focus areas - Thermo Fisher's industry leading PPD^™ clinical research business - to significantly improve the cycle time of clinical trials and accelerate the time to bring new medicines to market, creating meaningful value for the industry.
  
  
  
  
• Leverage OpenAI capabilities and Thermo Fisher's expertise, to more quickly help identify therapies that are unlikely to succeed, which will enable customers to redirect investment and resources toward more promising opportunities.
  
  
  
  
• Integrate AI into Thermo Fisher's Accelerator^™ Drug Development solution, an end-to-end approach spanning early development, Phase I–III clinical research, clinical manufacturing and supply and commercialization. This solution is designed to deliver greater speed, simplicity and scalability for customers.
  
  
  
  
• Launch frontier AI to Thermo Fisher colleagues, with ChatGPT Enterprise, making it easier to build confidence and fluency with these powerful tools.

"AI is shaping the future of science. And when combined with our Mission to enable our customers to make the world healthier, cleaner and safer, it is a powerful catalyst to accelerate scientific advancement," said Marc Casper, Chairman, President and Chief Executive Officer, Thermo Fisher Scientific. "With OpenAI, we're further embedding AI across our operations, products and services. Together, we're building an ecosystem that accelerates scientific breakthroughs and delivers impact for customers, patients and society."

"Thermo Fisher plays a massive role in advancing science, and together we have an opportunity to accelerate how medicine can reach more people," said Brad Lightcap, chief operating officer at OpenAI. "With OpenAI directly powering Thermo Fisher workflows, frontier AI can help cut through complexity, speed up breakthroughs, and bring real impact to patients' lives."

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD.

Forward-Looking Statements Disclaimer

This press release contains "forward-looking statements" within the meaning of applicable securities laws, including those relating to the impact that the collaboration will have on clinical trials, therapeutics, drug development and our business generally. Each of the forward-looking statements we make in this press release involves risks and uncertainties, many of which relate to matters beyond our control and could cause actual results to differ materially from these forward-looking statements. A discussion of such factors and other risks that affect our business is contained in our most recent reports on Form 10-K and Form 10-Q under the heading "Risk Factors." These filings are on file with the SEC and available in the "Investors" section of our website under the heading "SEC Filings." These forward-looking statements are based on our current expectations and speak only as of the date of this press release. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, in the event of new information, future developments or otherwise.

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Media Contact Information:

Sandy Pound

Thermo Fisher Scientific

Phone: 781-622-1223

E-mail: [email protected]

Investor Contact Information:

Rafael Tejada

Thermo Fisher Scientific

Phone: 781-622-1356

E-mail: [email protected]