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Insilico Medicine Strikes Drug Discovery Deal With Japan's Takeda Pharmaceutical

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Insilico Medicine (HKG:3696) struck a drug discovery deal with Japan's Takeda Pharmaceutical (TYO:4502) that could net the company up to $600 million.

In a Hong Kong bourse filing Thursday, Insilico Medicine said it will use its artificial intelligence-powered Pharma.AI platform to advance drug candidates across multiple therapeutic areas for Takeda.

Insilico said the deal is valued at $600 million after accounting for the $60 million project initiation fee plus milestone payments. The company will also receive royalties on sales of commercialized drugs.

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