Insilico Medicine said Thursday it entered into a strategic collaboration with Takeda Pharmaceutical Co. Ltd. (NYSE:TAK) to use its proprietary Pharma.AI platform to discover and advance new drug candidates across multiple therapeutic areas.
Deal Includes Upfront Payments And Future Milestones
As part of the collaboration, Insilico will receive approximately $60 million in project initiation fees, near-term payments, and milestone payments.
The company is also eligible for additional success-based preclinical, clinical, commercial, and sales milestone payments that could increase the total value of the agreement to about $600 million.
In addition to these payments, Insilico stands to receive tiered royalties on future sales of any products commercialized under the collaboration.
