Eli Lilly (LLY) Partners with Superluminal for AI Drug Discovery

Eli Lilly and Company (NYSE:LLY) is one of the 9 Best NYSE Stocks to Buy According to Hedge Funds. On August 14, Reuters reported that Eli Lilly and Company (NYSE:LLY) has entered into a deal worth $1.3 billion with Superluminal Medicines, a privately held company.

The aim of this deal is to use AI to discover and develop small-molecule drugs for obesity and other cardiometabolic diseases.

Eli Lilly (LLY) Partners with Superluminal for AI Drug Discovery

As per the report by Reuters, Eli Lilly and Company (NYSE:LLY) is already leading the obesity treatment market, which is expected to be worth $150 billion by the next decade. The company is looking to solidify its foothold in this area by developing next-generation drugs, making acquisitions, and entering into partnerships.

The deal allows Eli Lilly and Company (NYSE:LLY) to have exclusive rights to develop and commercialize drug candidates discovered with the help of Superluminal’s proprietary AI-driven platform targeting G-protein-coupled receptors (GPCR). These proteins can influence physiological processes including metabolism, cell growth, and immune responses.

Eli Lilly and Company (NYSE:LLY) is an American multinational pharmaceutical company focused on discovering, developing, and delivering innovative medicines.

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Disclosure: None. This article is originally published at Insider Monkey.