Isomorphic Labs Partners with Eli Lilly and Novartis in $3 Billion AI Drug Discovery Deals

The London-based AI company will use its AlphaFold technology to discover new medications, with potential earnings up to $1.7 billion from Eli Lilly and $1.2 billion from Novartis based on performance milestones.

• Isomorphic Labs, a spin-out of Google AI R&D division DeepMind, has entered into strategic partnerships with pharmaceutical giants Eli Lilly and Novartis, with a combined value of around $3 billion.
• Isomorphic will receive $45 million upfront from Eli Lilly and potentially up to $1.7 billion based on performance milestones, excluding royalties. Novartis will pay $37.5 million upfront in addition to funding select research costs and as much as $1.2 billion in performance-based incentives over time.
• Isomorphic Labs uses DeepMind’s AlphaFold 2 AI technology to predict the structure of proteins in the human body, which can help identify new target pathways to deliver drugs for fighting disease.
• The latest version of AlphaFold can generate predictions for nearly all molecules in the Protein Data Bank, the world’s largest open access database of biological molecules.
• Isomorphic Labs recorded a £2.4 million (~$3 million) loss in 2021 as it ramped up hiring ahead of opening its second office location in Lausanne, Switzerland.

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