Eli Lilly partners with XtalPi on AI drug discovery in up to $250M deal

• Eli Lilly (NYSE:LLY) will collaborate with China-based artificial intelligence focused pharma technology company XtalPi to identify new drugs.
• Under deal terms, XtalPi is eligible for up to $250M in upfront and milestone payments.
• The collaboration will draw on XtalPi's AI technologies and robotics platform to discover drug candidates for an undisclosed target.
• XtalPi said its ID4Inno small-molecule drug discovery platform provides a "trifecta of AI, autonomous labs, and expert domain knowledge that can generate and investigate a target-specific mega chemical space and quickly zero in on the most promising lead series."
• The Chinese company added that its autonomous robotic workstations can conduct parallel chemical synthesis and assays 24 hours a day.
• XtalPi also has partnerships with Johnson & Johnson's (JNJ) Janssen unit and Pfizer (PFE).

More on AI and pharma companies

• How The Pharmaceutical Industry Is Using AI

• The use of artificial intelligence in medical devices and drug development