AstraZeneca has signed an AI-led research agreement with China's CSPC Pharmaceutical Group worth up to $5.3 billion, which would help the Anglo-Swedish drugmaker develop therapies for chronic conditions,

The deal with China’s CSPC Pharmaceuticals, focused on AI-driven research, aims to advance the discovery and development of new drug candidates.

CSPC will use its artificial-intelligence-driven, dual-engine efficient drug discovery platform to analyze the binding patterns of target proteins with existing compound molecules in order to identify those with the highest chance of success in clinical trials, according to the release.