This photograph taken on March 17, 2026 shows obesity doctor and consultant Swati Pradhan explaining the Mounjaro GLP-1 self-injectable device at her clinic in Mumbai.
U.S. pharma giant Eli Lilly has agreed to work with a Hong Kong-listed biotech company to use artificial intelligence for drug discovery, according to a stock market filing.
It said the value of the deal between Eli Lilly — known for its weight loss jabs including Mounjaro — and AI software firm Insilico Medicine could be up to $2.75 billion.
The pair will use Insilico's "AI engine to accelerate the discovery and development of novel therapeutics across multiple therapeutic areas", said the filing, made by Insilico's parent company.
The new deal builds on existing collaborations between the two companies, which struck a software licensing agreement in 2023, according to Insilico.
The rapidly developing generative AI field holds promise for many sectors including medicine because of its ability to crunch huge amounts of data faster than humans can.
The pair will collaborate on multiple research and development programs "focused on targets selected by Lilly", the statement added.
Insilico will receive a $115 million upfront payment under the terms of the deal, it said.
