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Hong Kong-based startup Insilico Medicine has announced a multi-year, multi-target strategic research collaboration with Sanofi. Under the terms of the agreement, the collaboration will leverage Insilico Medicine's artificial intelligent (AI) platform, Pharma.AI, to advance drug development candidates for up to six new targets.
Changchun Xiao, Head of China Research at Sanofi said, "This collaboration will leverage our complementary capabilities, as well as the co-location of our scientific teams, to boost the drug discovery efforts of the Sanofi Institute for Biomedical Research (SIBR), Sanofi's R&D center in China."
Under the terms of the agreement, Sanofi will pay Insilico Medicine a total of up to $21.5 million covering the upfront and target nomination fees to benefit from Insilico's end-to-end Pharma.AI platform and gain access to a team of interdisciplinary drug discovery scientists to identify, synthesise, and advance high-quality lead therapeutic compounds up to development candidate stage.
Additional payments will be made if key research, development, and sales milestones are met, and could total up to $1.2 billion. The collaboration also establishes mid-single to up to low double-digit tiered royalties for any products developed.
