China Medical System to pay Insilico up to $177 million for nervous system work

SHANGHAI, July 13 () - Drugmaker China Medical System will ‌pay Insilico Medicine up ‌to about 1.2 billion yuan ($177 million) ​in milestone payments for a research and development programme in the central nervous system disease ‌field, the ⁠Boston-based drug discovery firm said.

SHANGHAI, July 13 (Reuters) - Drugmaker China Medical System will pay Insilico Medicine up to about 1.2 billion yuan ($177 million) in milestone payments for a research and development programme in the central nervous system disease field, the Boston-based drug discovery firm said. • The collaboration targets a "mass-market indication in central nervous system", Insilico said in a statement.

• The two firms will "jointly advance the co-development of the R&D programme", Insilico said. •

Insilico has previously announced collaborations with China Medical System in disease areas including central nervous system and autoimmune. • China Medical System did not immediately respond to a request for comment on which disease the additional collaboration targeted.

(Reporting by Andrew Silver in Shanghai; Editing by Jacqueline Wong and Subhranshu Sahu)