LONDON (dpa-AFX) - Thursday, insitro announced a strategic collaboration with AstraZeneca (AZN) to use artificial intelligence to discover new treatments for metabolic dysfunction-associated steatohepatitis (MASH) and cardiomyopathies.
Under the agreement, insitro will receive $40 million upfront and is eligible for up to approximately $1.46 billion in potential milestone payments, plus royalties on future sales.
The collaboration will combine insitro's Virtual Human AI platform with AstraZeneca's clinical development, regulatory and commercialization capabilities.
AZN closed Wednesday's trading at $162.03, up 3.99%. In pre-market trading the stock is at $166.63, up 2.82%.
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