THIS THREAD HAS A LOT OF SPOILS INCLUDED SINCE IT REVOLVES AROUND THE LATEST CHAPTERS/STORY! IF YOU ARE LOOKING FOR A SPOILER-FREE DISCUSSION THREAD, THIS IS NOT FOR YOU.
So I have been sinking in deep thought about the whole drug research mystery ever since I reread the FILE 427, when haibara was listening to Elena's tape, and I came across a couple of theories. Now, I'm not sure if they have been mentioned by someone, other than myself, but hopefully you'll understand that this is what I came up by myself, and not intentionally stealing someone else's idea. Now, I'll divide my points into 4 main ponits:
1. Elena Miyano's History
2. Drug Research
3. Furuya Rei
4. ''Sister outside of the domain''
so, to start off...
Elena Miyano's History
Elena's History and involvement in the Black Organization, other than being a part of the research team, is shrouded in mystery. One thing, that felt like it had a key meaning to me was in fact that she came from Britain! Britain, aside from being Holmes country, has been foreshadowed, or hinted, to have a connection with a few characters in the series, such as James Black, Sera Masumi, Furuya Rei and Miyano Elena ofc. My Idea is that Britain, will also have a major role in the series, aside from being the place that shinichi confessed to ran.
To go straight to my theory, which a lot of you might've thought about, is that Elena Myiano was a secret agent who infiltrated the Black Organization, and worked for SIS(MI6). I really think that Gosho is gonna play this card, judging from his repetitive behavior. Elena Miyano, former name Elena Sera, worked as a researcher for the MI6, who've been on the BO's tail, just like FBI. Highly possible reason for that is that a British citizen is a member of the Black Organization, could be RUM, a currently-dead low ranked member, or even the Boss(which would fit the story). Either way, Their tailing lead to Myiano Atsushi, the outcasted scientist who's become known for his, probably absurd, ideas that every scientist believes goes outside the barrier of morality(Immortality, fountain of youth, call it whatever you like). He has been in the BO radar ever since he presented his thesis, so before the BO took action, elena was assigned with the mission to investigate him and his research. One thing lead to another, and they ended up getting married. Elena managed to infiltrate the BO when the they started to fulfill atsushi's financial needs for his research and atsushi found out about his wife's secret job along the way.
Drug Research
Miyano Atsushi and Elena started their drug research together and progressed to the same results that shiho has, which many of you might disagree with, since Pisco said in FILE 242 that her parents would be proud of her for taking the research to such a stage. That's not true!(according to my theory). Elena and atsushi had in fact, with the support of the whole research team kept their true research progress in the dark from the higher ups of the BO, with the intent of not letting the prototype fall in the wrong hand. So, in reality, they've already taken the Apotoxin 4869 to the known stage that shiho has, but kept that information away from members, who've been around for awhile, like Pisco, and just kept on their mask. But since Elena and atsushi didn't want to finish the drug, knowing what the BO was planning to do with, they prepared a countermeasure, the Silver Bullet project. It was basically the antidote for the drug(mentioned in FILE 821). But, since starting a new project without the BO's consent meant betrayal, there was no way to predict when the BO would find out and eventually kill them.
So they decided to take desperate measures,..to leave their kids behind for the sake of finishing the Silver Bullet Project without interruption, so that they can even have a chance on stopping the BO's plan. Their plan was to fake their death, and leave the BO with the help of MI6 and Zero and continue their research in Britain with full protection. Since baby shiho was held as hostage to make them work, they couldn't bring her with them. Akemi was left behind so that she could take care of her sister, and guide her to a better path, rather then being raised as a villain in the BO.
Furuya Rei
As elena was infiltrating the BO, She, and the MI6, got support from The Secret Police(Zero) who was also investigating the BO. Their cooperation was agreed on the terms that the MI6 would share some of their important Intel they got on the BO(such as how their operations worked, information regarding Vermouth for example[her secret]). Through their alliance, elena met the little boy Furuya Rei who was hanging around the secret police to support his brother(scotch) who worked for Zero. after elena and atsushi faked their death, elena spend a short period of time hiding in japan, with the secret police's full protection. Because rei and elena both had British blood, they got along pretty well and she even attended to the wounds he got from fighting in school. the time came when she had to flee to Britain, and she told rei that she couldn't attend to his wounds anymore because she was leaving. That's how Furuya Rei come to know about Miyano Elena, and why the MI6 came to mind when he was describing Agasa's inventions.
''Sister outside the domain''
Now, many have already started to speculate about who the-sister-outside-domain's sister is. My strong believe(which you can already guess by my naming in the beginning) is that it's Elena, the only important british woman in the serie. I have many reasons to believe so(here's a link to my thoughts on this matter:viewtopic.php?p=843317#p843317). Elena's sister visited her in Britain often as almost 20 years was passing. I would find it odd that gosho would keep shiho's parents alive after building so much character development around the fact that haibara was alone and that only she had the potential of creating an antidote, so I'd assume that their years of working with the silver bullet project has became impossible to finish, since maybe a key part of it was missing(vermouth de-aging DNA perhaps

Elena's sister, however, was given the apotoxin 4869 prototype, that elena had kept in her lab, as a last wish for her sister to protect it and take it with her to the US, But it lead to the misfortune of her digesting it by accident. Since she was sickly from the beginning, she took pills daily, and as she asked her daughter to bring them for her, masumi gave her the wrong one by accident. So,..she witnessed her mother shrink into a kid(funny story). Since the only scientist who has knowledge about the apotoxin is her own niece, who lives in japan, she asked masumi, who already planned to go there, to take her with her. Elena's sister probably knew about akai's fake death as she might've been told by james Black, the friend of the family that supported their trip to japan financially. Now she's on the quest to meet her niece to tell her everything. Sera helped her mother out by investigating haibara, but to arrange the meeting, sera needs to get through conan(Her childhood crush) first!