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Isomorphic Labs, a digital biology company with a mission to redefine drug discovery using the power of artificial intelligence, have announced that it has entered into a strategic research collaboration with Eli Lilly and Company.
Under the terms of the agreement, Isomorphic Labs will partner with Lilly to discover small molecule therapeutics against multiple targets and will receive an upfront cash payment of $45 million. Isomorphic Labs is eligible to receive up to $1.7 billion in performance-based milestone payments, excluding the upfront payment and any subsequent tiered royalties of up to low double digits on net sales.
"We're thrilled to embark on this partnership and apply our proprietary technology platform, the next generation of AlphaFold, and access to massive computing power to Lilly's development programs," said Demis Hassabis, CEO and founder of Isomorphic Labs. "The focus we share on advancing groundbreaking drug design approaches and appreciation of state-of-the-art science makes this partnership particularly compelling."
Additionally, Isomorphic Labs have announced that it has entered into a strategic research collaboration with Novartis to discover small molecule therapeutics against three undisclosed targets.
"Isomorphic Labs and Novartis hold a shared purpose to reimagine medicine to improve and extend people's lives," said Demis Hassabis, CEO and founder of Isomorphic Labs. "We are delighted to embark upon this integrated way of working, bringing Isomorphic's state-of-the-art AI and technology platform, including the next-generation AlphaFold model, and access to massive computing power to Novartis, an established leader in the creation of innovative medicines."
"Cutting-edge AI technologies such as AlphaFold hold the potential to transform how we discover new drugs and accelerate our ability to deliver life-changing medicines for patients," said Fiona Marshall, President of Biomedical Research at Novartis. "This collaboration harnesses our companies' unique strengths, from AI and data science to medicinal chemistry and deep disease area expertise, to realise new possibilities in AI-driven drug discovery. We are thrilled to explore uncharted frontiers together with the Isomorphic team."