Eli Lilly (NYSE:LLY) has entered into a drug discovery collaboration with Hong Kong-listed InSilico that could be worth up to $2.75 billion, the companies said on Sunday.
As part of the agreement, InSilico will receive an upfront payment of $115 million. The company may also earn additional milestone payments that could lift the total value of the deal to about $2.75 billion, along with tiered royalties on future product sales, according to a regulatory filing.
Through the partnership, Eli Lilly will secure exclusive global rights to develop, manufacture and commercialize oral therapies across several therapeutic areas. The potential treatments will be identified using InSilico’s artificial intelligence platform, Pharma.AI.
The two companies plan to work together on multiple research and development initiatives targeting molecules selected by Lilly.