Insilico Shares Surge on AI Drug Development Deal with Eli Lilly

Insilico Medicine Cayman TopCo’s shares jumped on Monday after it struck an artificial intelligence-driven drug development deal with Eli Lilly & Co. worth up to $2.75 billion.

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.