Shares of the Hong Kong-based biotech climbed as much as 15% at the market open on Monday, marking its strongest intraday rally in nearly two months.
Under the deal announced Sunday, Insilico will receive $115 million in upfront payments, with additional milestones that could bring the value to $2.75 billion. The company is also eligible for tiered royalties on future sales. In return, Lilly gets the exclusive worldwide rights to develop and ...