- Genesis Therapeutics and Eli Lilly And Company (NYSE: LLY) have signed a $670 million deal. These are the details.
Genesis Therapeutics, a company that is pioneering artificial intelligence technologies to create medicines for patients with severe and unmet medical conditions, announced today that it has entered into a strategic collaboration with Eli Lilly And Company (NYSE: LLY) to discover novel therapies for up to 5 targets across a range of therapeutic areas. This collaboration will deploy Genesis’ pioneering AI drug discovery platform, which combines 3D structure-aware deep neural networks with cutting-edge molecular simulation. Genesis’ field-leading machine learning models are going to be utilized by joint teams of engineers and scientists from Genesis and Lilly as they drive toward the first- and best-in-class drug candidates.
Under the terms of the deal, Genesis is going to partner with Lilly on 3 initial targets and will receive an upfront payment of $20 million. And Lilly will have the option to nominate two more targets for an additional nomination payment per target.
Genesis is going to be eligible to receive up to $670 million total in upfront; target nomination; and preclinical, development, regulatory, and sales milestone payments. And Genesis is also eligible to receive royalties on net sales.
KEY QUOTE:
“We are excited to join forces with Lilly and their world-class research and development teams to discover novel drugs for patients suffering with severe diseases. In our experience, partnerships thrive when both parties bring unique and complementary technologies and insights to the table. At Genesis, interdisciplinary teams of accomplished AI researchers, software engineers, chemists and biologists work closely together to push the boundaries of chemical machine learning and create novel therapies for protein targets that have evaded traditional discovery methods. We look forward to addressing critical areas of unmet medical need by combining the expertise of our respective organizations.”
– Genesis Therapeutics’ CEO Evan Feinberg, Ph.D
