Eli Lilly reaches $2.75 billion deal with Insilico to bring AI-developed drugs to the global market

In this article

BEIJING — U.S. pharmaceutical giant Eli Lilly

has reached a $2.75 billion deal to bring drugs developed using artificial intelligence by Hong Kong-based Insilico Medicine to the global market.

The agreement will give Insilico $115 million up front, with the remainder subject to regulatory and commercial milestones, along with royalties on future sales, according to the companies’ announcement Monday.

Insilico has developed at least 28 drugs using generative AI tools, with nearly half already at a clinical stage, Alex Zhavoronkov, founder and CEO of Insilico, told CNBC. The company went public in Hong Kong in December. Its shares are up more than 50% year-to-date.