18 March 2020 | News
This agreement includes an upfront payment, milestone payments, and royalties based on the sales of the products from the collaboration
Source: Cancer Center
Beijing Tide Pharmaceutical Co., Ltd. (Tide), a subsidiary of Sino Biopharmaceutical Limited, and Insilico Medicine, an artificial intelligence company developing end-to-end drug discovery pipelines has announced that they are entering a collaboration, applying artificial intelligence (AI) technology to drug discovery, to jointly accelerate the process for multiple types of cancer treatment.
This agreement includes an upfront payment, milestone payments, and royalties based on the sales of the products from the collaboration.
Sino Biopharmaceutical Limited's Chairlady Theresa Tse said, "Tide is the second pharma company of Sino Biopharmaceutical Limited working with Insilico Medicine. We see a great potential of applying AI technology to drug discovery and healthcare sections, and we will invest more in AI applications.”
Alex Zhavoronkov, CEO of Insilico Medicine said, "This collaboration was established for a single purpose: to support combined efforts to find a cure for and eliminate cancer. By using our resources and working with others dedicated to a common cause, there is a hope that together we can beat this disease."
Tide is a high-tech pharmaceutical enterprise in China with the capability of developing, manufacturing as well as marketing series of targeted drugs. Through years of experience, Tide has been identified as one of the innovation pilot enterprises, committed to innovation in science and technology. With the help of Insilico Medicine's AI platform, the new era of research and development of the Pharmaceutical industry has arrived. Tide Pharmaceutical and Insilico Medicine look forward to a long term and win-win partnership from the joint alliance of both companies.