Insilico Medicine announced on Sunday that it is partnering with Eli Lilly in a deal valued at up to $2.75 billion, expanding their existing collaboration in AI-driven drug discovery.
Under the agreement, Lilly will use Insilico’s AI technology platform and gain an exclusive worldwide license to develop, manufacture, and commercialize certain oral drug candidates that are currently in the preclinical stage.
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Under the terms of the agreement, Insilico Medicine will receive an upfront payment of $115 million, along with additional development, regulatory, and commercial milestone payments that could increase the total value of the deal to around $2.75 billion. The company will also earn tiered royalties on future sales.
“By deploying AI technologies that scale from biomarkers to life models, world models of human and animal life, we can identify multi-purpose targets driving multiple diseases at the same time,” said Alex Zhavoronkov, founder and CEO of Insilico Medicine.
Eli Lilly and Insilico Medicine had previously entered into a research collaboration in November, expanding their partnership that originally began with an AI-based software licensing agreement in 2023.
