Image courtesy of Insilico Medicine
Days after going public on the Hong Kong Stock Exchange, Insilico Medicine has struck a multi-year oncology drug discovery partnership with France’s Servier worth up to $888 million. The collaboration will focus on developing oncology therapies, by combining Insilico’s AI-driven drug discovery platforms with Servier’s global expertise in cancer drug development.
Insilico pointed to its existing oncology pipeline, including programs already in Phase I trials, as evidence it can deliver drug candidates beyond the concept stage. Servier will apply its oncology development and commercialization capabilities to any candidates that emerge from the collaboration.
The Servier deal’s economics follow a familiar template for AI-driven drug discovery partnerships: roughly $32 million in upfront and near-term R&D payments against an $888 million headline, about 3.6% front-loaded. That ratio sits squarely within the 2–5% band that has become standard for discovery-platform collaborations, where the bulk of value is pushed into development and commercial milestones that rarely pay out in full. Recent deals from Exscientia, Schrödinger and Isomorphic Labs show similar structures, though there are signs the absolute dollar amounts upfront are creeping higher even as headline totals balloon.
Zhavoronkov described the partnership as another step toward “pharmaceutical superintelligence, where AI agents could actually make decisions and design experiments.” It’s a vision he’s championed for years. Meanwhile, the pharma industry’s enthusiasm for AI is more bifurcated since the 2023 boom: pharma dealmaking has stayed aggressive, while public-market patience has worn thin.
AI drug discovery deal comparison table
| Deal | Announced | Cash Upfront | “Up to” Value (ex-royalties) | % Upfront | Type | Notes |
| AstraZeneca / CSPC | Jun 2025 | $110M | $5.33B ($110M + $1.62B dev + $3.6B sales) | 2.1% | Discovery platform | AI-driven dual-engine platform; immunology focus |
| Schrödinger / BMS | Nov 2020 | $55M | $2.755B ($55M + $2.7B) | 2.0% | Discovery platform | Physics-based; oncology, immunology, neuro |
| Sanofi / Earendil Labs | Apr 2025 | $125M | $1.845B ($125M + $1.72B) | 6.8% | Asset license | Two named bispecifics; includes $50M near-term |
| Isomorphic Labs / Lilly | Jan 2024 | $45M | $1.745B ($45M + $1.7B) | 2.6% | Discovery platform | AlphaFold spinout; small molecules |
| Insilico / Sanofi | Nov 2022 | Up to $21.5M | $1.22B ($21.5M + $1.2B) | 1.8% | Discovery platform | 6 targets; upfront includes nomination fees |
| Exscientia / BMS | May 2021 | Up to $50M | ~$1.2B+ | ~4.2% | Discovery platform | Multi-target; near-term milestones up to $125M |
| Exscientia / Merck KGaA | Sep 2023 | $20M | $694M ($20M + $674M) | 2.9% | Discovery platform | 3 initial programs |
| Isomorphic Labs / Novartis | Jan 2024 | $37.5M | $1.24B ($37.5M + $1.2B) | 3.0% | Discovery platform | 3 undisclosed targets |
| Incyte / Genesis | 2025 | $30M | ~$620M (2 targets) | 4.8% | Discovery platform | $295M per target in milestones |
| Menarini / Insilico (KAT6) | Jan 2024 | $12M | >$500M | ≤2.4% | Asset license | Preclinical KAT6 inhibitor; breast cancer |
| Menarini / Insilico (#2) | Jan 2025 | $20M | >$550M | ≤3.6% | Asset license | Second oncology asset |
| Insilico / Servier | Jan 2026 | $32M | $888M | 3.6% | Discovery platform | Multi-target oncology |
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