Deal announcement

Partners

Deal size (as reported)

Primary objective

Jan 7, 2025

PostEra × Pfizer PFE.N

$610 mln potential; incl. $12 mln upfront

Expand Pfizer–PostEra AI Lab and add ADC payload‑design program

Jan 13, 2025

IQVIA IQV.N × NVIDIA NVDA.O

Undisclosed

Build custom AI models/agents to automate R&D–commercial workflows

Feb 20, 2025

Incyte INCY.O × Genesis Therapeutics

$30 mln upfront; up to $295 mln/target milestones + royalties

Use GEMS platform to design small molecules for Incyte targets

Mar 3, 2025

Kyndryl KD.N × Microsoft MSFT.O

Undisclosed

Deploy Dragon Copilot to reduce documentation burden

Mar 18, 2025

GE HealthCare GEHC.O × NVIDIA

Undisclosed

Develop autonomous X‑ray and ultrasound workflows

Mar 25, 2025

Cleveland Clinic × G42

Undisclosed

Form task force to accelerate AI use in care and operations

Apr 16, 2025

Kenvue KVUE.N × Microsoft

Undisclosed (5‑yr)

Modernize operations using Azure, genAI, and digital twins

Apr 29, 2025

Eli Lilly LLY.N × Creyon Bio

$13 mln upfront; >$1 bln milestones

Use AI engine to design improved RNA‑targeted oligos

May 21, 2025

Genentech (Roche) ROG.S × Orionis Biosciences

$105 mln upfront; >$2 bln milestones + royalties

Discover monovalent molecular glues using Allo‑Glue platform

Jun 11, 2025

Novo Nordisk NOVOb.CO × NVIDIA × DCAI (Gefion)

Undisclosed

Build bespoke AI models using Gefion supercomputer

Jun 13, 2025

AstraZeneca AZN.L × CSPC Pharmaceutical 1093.HK

$110 mln upfront; up to $1.62 bln dev milestones; up to $3.6 bln sales milestones

Discover oral drug candidates; AZ holds global licensing rights

Jun 29–30, 2025

Pfizer × XtalPi 2228.HK

Undisclosed

Expand to next‑gen physics + AI modelling platform

Jul 2, 2025

AstraZeneca × Modella AI

Undisclosed (multi‑year)

Use multimodal AI models to speed oncology development

Aug 14, 2025

Eli Lilly × Superluminal Medicines

Up to $1.3 bln + royalties

Apply AI GPCR platform to undisclosed targets

Sep 1, 2025

University of Oxford × Ellison Institute

£118 mln funding

Use AI + challenge models to map correlates of immunity

Sep 23, 2025

Merck KGaA MRCG.DE × Siemens SIEGn.DE

Undisclosed (MoU)

Connect R&D and manufacturing through Siemens digital platforms

Oct 14, 2025

Takeda 4502.T × Nabla Bio

Double‑digit millions upfront + >$1 bln milestones

Use JAM AI model to design antibodies and multispecifics

Oct 26–27, 2025

Novartis NOVN.S × Avidity Biosciences RNA.O

~$12 bln cash

Acquire Avidity to strengthen xRNA and neuromuscular portfolio

Oct 28, 2025

Eli Lilly × NVIDIA

Undisclosed (>1,000 GPUs)

Build large‑scale AI supercomputer for R&D

Oct 28, 2025

Johnson & Johnson MedTech JNJ.N × NVIDIA

Undisclosed

Use Isaac + Omniverse to simulate OR workflows

Nov 10, 2025

Eli Lilly × Insilico Medicine

>$100 mln potential + royalties

Use Pharma.AI to design small‑molecule candidates

Nov 20, 2025

Merck KGaA × Valo Health

Over $3 bln potential

Use Valo’s human‑data AI to identify targets and speed preclinical work

Dec 9, 2025

Novartis × Relation Therapeutics

$55 mln upfront + up to $1.7 bln milestones

Use AI + multi‑omics to find first‑in‑class targets

Jan 7, 2026

GSK GSK.L × Helix

Undisclosed

Provide GSK exome + longitudinal data for target discovery

Jan 8, 2026

GSK × Noetik

$50 mln upfront + near‑term milestones

License AI virtual‑cell models for cancer research

Jan 8, 2026

Pfizer × Boltz

Undisclosed

Fine‑tune Boltz AI models with Pfizer data

Jan 9, 2026

Schrodinger SDGR.O × Eli Lilly

Undisclosed

Integrate TuneLab models into LiveDesign

Jan 12, 2026

NVIDIA × Thermo Fisher TMO.N

Undisclosed

Pair NVIDIA AI with lab instruments for automation

Jan 12, 2026

NVIDIA × Eli Lilly

Up to $1 bln over 5 years

Create closed-loop AI + robotics discovery lab

Jan 13, 2026

Illumina ILMN.O × AstraZeneca × Merck MRK.N × Eli Lilly

Undisclosed

Launch Billion Cell Atlas for large‑scale AI training

Jan 13, 2026

AstraZeneca acquires Modella AI

Undisclosed

Acquire Modella to deploy foundation models across oncology R&D

Apr 14, 2026

Novo Nordisk NOVOb.CO × OpenAI

Undisclosed

To deploy AI across its business, from drug discovery to manufacturing and commercial operations

Apr 14, 2026

Labcorp LH.N x Amazon Web Services x Datavant

Undisclosed

A new AI-powered real-world data platform, designed to help researchers and biopharmaceutical companies analyze Alzheimer's disease-related data faster

Apr 14, 2026

Vasa Therapeutics x Eli Lilly

Undisclosed

Enables Vasa to utilize Lilly TuneLab, an AI-enabled drug discovery platform that provides biotech companies access to drug discovery models trained on Lilly's proprietary data

Apr 22, 2026

Merck x Alphabet's Google Cloud

$1 billion

To build up its AI capabilities, investing as much as $1 billion with Google over a number of years to fund AI infrastructure, engineers and licensing of the tech company's Gemini Enterprise platform.

Apr 28, 2026

Profluent x Eli Lilly

Upfront payment + eligible to receive up to $2.25 billion in development, commercial milestone payments and royalties

Research collaboration with Lilly to develop and commercialize custom site-specific recombinases to address diseases with severe unmet needs.

May 6, 2026

Simulations Plus SLP.O x NVIDIA

Undisclosed

Technical collaboration focused on enabling GPU-accelerated simulation and AI-assisted workflows for computationally intensive modeling applications within the drug development lifecycle.

May 7, 2026

Roche x PathAI

$750 million upfront + additional milestone payments of up to $300 million

Acquisition strengthens Roche's position in digital pathology, ​which is ​helping ⁠to transform manual workflows into fully automated, AI-driven processes.

May 13, 2026

Owkin x AstraZeneca

Undisclosed

Agreement to build biopharma agents as part of their three-year licensing of K Pro – Owkin’s AI Scientist for biopharma decision making.

May 13, 2026

IQVIA x Kexing Biopharm 688136.SS

Undisclosed

To support a global, multi-product biosimilar development and commercialization program.

May 14, 2026

Anthropic x Gates Foundation

$200 million

To back artificial intelligence-related public goods and areas including health and education

May 19, 2026

Incyte INCY.O x Edison Scientific

Undisclosed

Strategic collaboration to employ Kosmos, Edison’s AI scientist, for Incyte’s discovery and development work.

May 20, 2026

Incyte x Genesis

Upfront consideration of $120 million + Genesis eligible to receive over $1 billion if all milestones are achieved

Expansion of collaboration building and deploying state-of-the-art AI to accelerate the discovery of novel molecules for collaboration targets selected by Incyte.

May 20, 2026

Bristol Myers Squibb x Anthropic

Undisclosed

To make Claude AI model available to over 30,000 Bristol Myers employees in an effort to accelerate the discovery, development and delivery of new medicines.

May 20, 2026

Collaborative Drug Discovery (CDD)x Eli Lilly

Undisclosed

To integrate Lilly TuneLab, a collaborative AI/ML drug discovery platform, into CDD Vault.