FREMONT, CA: Atomwise will support preclinical drug discovery efforts through its partnership with Eli Lilly and Company. The multi-target alliance is intended to reduce the time, cost, and risks with clinical trials, and provide better insights into the toxicity, mechanism of action, side effects, and efficacy of a drug.
With this association, both the companies will work on upto ten drug targets chosen by Lilly by tapping in the latter’s expertise in virtual library design, robotic laboratory, and Atomwise’s analytical know-how, which will be applied to help Lilly’s molecules that hold potential as new therapeutics for specific diseases.
As part of the deal, Atomwise may receive up to $1m per drug in discovery milestones. It will also be eligible for $550m if specific development and commercialization targets are reached. Atomwise will hold an option to develop compounds resulting from the alliance that Lilly chooses not to advance into clinical testing.
Atomwise uses AI for its structure-based, drug design technology, which is designed to enable scientists to predict how well a small molecule will bind to a target protein of interest, as well as remove sole reliance on empirical screening.
The world’s tech giants have recognized vast business opportunities in the healthcare space. Big pharma companies have created space for tech giants because they have been highly successful and innovative at bringing solutions to the market. For more than a century, Lilly has stayed true to discovering medicines that meet real needs and improving management of the disease. The company couples caring with discovery to create drugs that make life better for people around the world. Lilly strive to touch the lives of our customers by actively listening and responding to their needs with breakthrough products and medical expertise that is critical to their understanding and treatment of diseases.