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Sanofi has signed an agreement with AI pharmaceutical company Insilico, marking Big Pharma’s third major AI drug deal this year.

The deal is for up to six undisclosed targets, the duo announced this morning. Sanofi will pay $21.5 million up front, and downstream milestones could be up to $1.2 billion, according to Sanofi.

“This collaboration will leverage our complementary capabilities, as well as the co-location of our scientific teams, to boost the drug discovery efforts of the Sanofi Institute for Biomedical Research (SIBR), Sanofi’s R&D center in China.” , said Sanofi’s director of Chinese research. Changchun Xiao said. Insilico is based in Hong Kong and New York.

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