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Insilico inks $200M AI drug discovery deal with Chinese drugmaker

AI drug discovery company Insilico Medicine Inc. said it has locked a deal with Jiangsu Chia Tai Fenghai Pharmaceutical Co. Ltd. to discover treatments for triple-negative breast cancer.

The two companies aim to accelerate drug discovery process via the deal with Insilico Medicine's AI-empowered platform. Jiangsu Chia Tai Fenghai Pharmaceutical, a unit of Sino Biopharmaceutical Ltd., will pay Insilico Medicine an upfront payment, milestone payments and royalties based on the net sales on the products from the collaboration. The deal is valued at up to $200 million.

Triple-negative breast cancer is an aggressive form of breast cancer that does not have any of the receptors commonly found in breast cancer — estrogen, progesterone and excess human epidermal growth factor receptor 2.

Hong Kong-based Insilico Medicine in September announced a $37 million financing round by Lilly Asia Ventures, Qiming Venture Partners, LLC and other investors.

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