Tempus AI shares were 14% higher, at $49.55, after the company said it has entered into multi-year strategic collaborations with AstraZeneca and Pathos AI.

The technology company said the companies will work together to build a multimodal foundation model in oncology which can be used to gather biological and clinical insights, discover novel drug targets and develop therapeutics for the broader oncology community.

The agreements include $200 million in data licensing and model development fees to Tempus.

Tempus said its de-identified oncology data will be used to build the foundation model. Upon completion, the model will be shared among all three parties to advance their individual efforts to improve patient care.

Tempus stock hit its 52-week high of $91.45 on Feb. 14, and are up 47% year-to-date.