Insilico signs US$888 million AI drug-development deal days after Hong Kong IPO [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
Insilico's proprietary artificial intelligence platform to discover and develop novel cancer drugs. The deal comes just days after the US company's shares debuted following its initial public offering (IPO), which raised HK$2.28 billion (US$293 million) after the public portion was oversubscribed 1,427 times. The multi-year partnership with Servier, unveiled on Saturday, would make Insilico eligible for up to US$32 million in upfront and near-term research and development payments, the companies said, with the rest of the payments contingent on milestones. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Insilico would leverage its Pharma.AI platform to identify and advance potential drug candidates that "meet predefined scientific and development criteria", while Servier would share
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