10 October 2019 | News
Insilico Medicine will be eligible to receive up to $200 million for the achievement of milestone payments and royalties
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Insilico Medicine, a Hong Kong headquartered company developing an end-to-end drug discovery pipeline utilizing the latest advances in deep learning, has entered into a two-program AI drug discovery collaboration agreement with Jiangsu Chia Tai Fenghai Pharmaceutical Co., Ltd. (CTFH), taking on previously undruggable targets.
This partnership is expected to accelerate drug discovery and development with an AI-enabled platform for triple-negative breast cancer. Insilico Medicine will be eligible to receive up to $200 million for the achievement of milestone payments and royalties based on the net sales on the products from the collaboration.
CTFH is an active adopter of state-of-the-art technologies and has achieved significant milestones in first-in-class drug development. Wenyu Xia, General Manager of CTFH, said: "We are very pleased to establish the partnership with Insilico Medicine, entering the new era of AI-enabled drug development. We look forward to a long-term partnership with Insilico Medicine. As the premier AI drug discovery company in the industry, Insilico Medicine has demonstrated capabilities to generate novel molecules with specified properties using its next-generation AI platform. We believe that this collaboration will speed up the R&D process, reduce the cost and provide greater benefits to patients."