Insilico signs US$888 million AI drug-development deal days after Hong Kong IPO

Newly Hong Kong-listed biotech firm Insilico Medicine is expected to receive up to US$888 million from a French drug maker under a partnership using Insilico’s proprietary artificial intelligence platform to discover and develop novel cancer drugs. The deal comes just days after the US company’s shares debuted following its initial public offering (IPO), which raised HK$2.28 billion (US$293 million) after the public portion was oversubscribed 1,427 times. The multi-year partnership with Servier,...