Isomorphic Labs has announced partnerships with Eli Lilly and Novartis.

These partnerships could be worth up to $3 billion.

Isomorphic will use Alphabet's DeepMind's technology, AlphaFold, for drug discovery.

The company will receive upfront payments of $45 million from Eli Lilly and $37.5 million from Novartis.

The AlphaFold AI technology predicts protein structure, aiding in the discovery of disease targets and compound development.

These partnerships are the first of many expected announcements from the J.P. Morgan Healthcare Conference.