InSilico Medicine (HKG:3696) said Tuesday it received an unspecified milestone payment from Servier under their $888 million multi-year artificial intelligence-based research and development partnership for cancer drugs, according to a same-day bourse filing.
Under their partnership, InSilico and Servier started two distinct oncology programs using the company's proprietary Pharma.AI platform.
The payment was triggered after InSilico met preset conditions and hit an early drug-discovery milestone for the first program.
Shares were up nearly 2% in late-morning trading Tuesday.
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