Isomorphic Labs, a unit of Google-parent Alphabet, on Sunday announced strategic research collaborations with Eli Lilly and Novartis.
The Lilly and Novartis collaborations will focus on small-molecule treatments and multiple targets. Isomorphic Labs, which uses artificial intelligence to help discover new drugs, will receive upfront cash and possible milestone payments.
Eli Lilly and Isomorphic Labs will team up to discover small molecule therapeutics for multiple targets. Isomorphic will receive $45 million upfront, with up to $1.7 billion in milestone payments as well as possible royalties.
The Novartis-Isomorphic collaboration will focus on finding small molecule therapeutics vs. three targets. Alphabet's Isomorphic gets $37.5 million cash now, along with Novartis covering some research costs. It's als0 eligible for up to $1.2 billion in milestone payments, plus possible royalties.
Stocks
Eli Lilly stock rose 1.2% to 626.03 Monday, erasing early losses. Shares leapt 6.1% to 618.55 last week, clearing early entries on Tuesday and Wednesday. On Thursday, LLY stock briefly topped a 629.97 flat-base buy point.
NVS stock edged up 0.7% to 107.08. Shares jumped 5.3% last week to 106.31. Shares are now extended from a double-bottom buy point of 98.69, decisively cleared in the final days of last year.
GOOGL stock climbed 2.3% to 138.84. Google sank 2.8% last week to 135.73, falling below a 139.42 cup-with-handle buy point and testing support at the 10-week line.
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