China Medical System to pay Insilico up to $177 million for nervous system work (updated)
UPDATE 1-China Medical System to pay Insilico up to $177 million for nervous system work Updates with details and context
SHANGHAI, July 13 (Reuters) - Drugmaker China Medical System 0867.HK will pay Insilico Medicine 03696.HK up to about 1.2 billion yuan ($177 million) in milestone payments for a research and development programme in the central nervous system disease field, the Boston-based drug discovery firm said.
The collaboration targets a "mass-market indication in central nervous system", Insilico said in a statement.
The two firms will "jointly advance the co-development of the R&D programme", Insilico said.
Insilico has previously announced collaborations with China Medical System in disease areas including central nervous system and autoimmune.
China Medical System did not immediately respond to a request for comment on which disease the additional collaboration targeted.
(Reporting by Andrew Silver in Shanghai; Editing by Jacqueline Wong and Subhranshu Sahu)
((andrew.silver@thomsonreuters.com))
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