Insilico Medicine signs a $2.5 billion AI drug discovery deal with SK Biopharmaceuticals for neuroimmune disorders

Insilico Medicine and SK Biopharmaceuticals announced a $2.5 billion collaboration at BIO 2026 targeting neuroimmune CNS disorders, with just $18 million paid upfront and the rest tied to milestones. The deal structure reveals how pharma is treating AI drug discovery platforms: as high-upside options on unproven pipelines, not proven molecules.