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Eli Lilly gets a licence for oral medicines that Insilico has in early development—for certain unspecified illnesses—and a research-and-development partner that has AI-based tools for finding molecules that could become useful new drugs. Insilico gets $115 million up front and the potential of milestone payments taking the amount up to $2.75 billion as medicines move through development, and potential royalties on eventual sales. (The Logic)
Talking point: Insilico has widespread global operations but Montreal is at the core of its artificial intelligence research and CEO Alex Zhavoronkov is a Latvian-Canadian partly educated at Queen’s University. The company announced a similar development deal with French pharma company Servier in early January, days after going public on the Hong Kong Stock Exchange. Its share price has risen more than 50 per cent this year.
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