Shanghai Fosun Pharmaceutical (Group) Co., Ltd. entered into a collaboration agreement to advance the discovery and development of drugs targeting a number of different targets globally through the use of AI technology. This strategic collaboration includes an AI-driven drug discovery research and development (R&D) collaboration on four biological targets, as well as the co-development of Insilico's QPCTL program. Insilico will receive a total upfront payment of $13 million for the R&D collaboration projects and the co-development of the QPCTL program, potential milestone-based payments, and share commercialization profits from the QPCTL program.

In addition, Fosun Pharma will make an equity investment in Insilico. The collaboration aims to combine Insilico's end-to-end AI-driven drug discovery platforms and Fosun Pharma's clinical development and commercial expertise to discover and develop a portfolio of novel therapeutics. Pursuant to the collaboration agreement, Insilico will take responsibility for delivering a preclinical candidate for the QPCTL program and advancing it to IND stage, after which, Fosun Pharma will then conduct human clinical studies and co-develop the candidate globally.

In parallel, Fosun Pharma's R&D team will nominate four therapeutic targets to be assessed by Insilico's AI platform and R&D team, who are responsible of advancing drug candidates to IND stage.