Incyte inks $120M AI drug discovery deal with Genesis Molecular AI, boosting biotech innovation.

Incyte has signed a $120 million partnership with Genesis Molecular AI, including $80 million upfront and a $40 million equity investment, to advance AI-driven drug discovery. This deal could exceed $1 billion with future milestones and royalties, using Incyte's experimental data to enhance Genesis's AI models. The collaboration targets five areas in oncology, hematology, and inflammation, aiming to accelerate drug development despite the lengthy clinical process. This partnership reflects growing pharma interest in AI to reduce drug discovery time and costs.