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Eli Lilly and Insilico have decided to partner on drug development, utilizing Pharma.AI, the firm's AI-driven biotech platform. Lilly will gain exclusive rights to create, produce, and market the medications.
Insilico anticipates an initial payment of $115 million, followed by milestone payments from Lilly during drug development, regulatory clearance, and market launch. Insilico will obtain tiered royalties from upcoming sales.
Insilico's stock increased by 15% on the Hong Kong Stock Exchange on March 30, reaching a high of HK$65.75. At the end of trading, the increases had reduced to 2.6%, with Insilico priced at HK$58.7.
source: reuters.com
Insilico anticipates an initial payment of $115 million, followed by milestone payments from Lilly during drug development, regulatory clearance, and market launch. Insilico will obtain tiered royalties from upcoming sales.
Insilico's stock increased by 15% on the Hong Kong Stock Exchange on March 30, reaching a high of HK$65.75. At the end of trading, the increases had reduced to 2.6%, with Insilico priced at HK$58.7.
source: reuters.com