Beijing, China – – Media outreach – – June 6, 2022 – Insilico Medicine, a clinical-stage, end-to-end artificial intelligence (AI) -led drug discovery company, today has a $ 60 million Series D from a syndicate of global investors with investment expertise. Announced that it has completed funding. Biopharmacy and life sciences sector.
Financing consists of new investors such as large and diverse asset management companies and BHR partners on the West Coast of the United States and current investors such as Warburg Pincus, B Capital Group, Kimin Venture Partners, BOLD Capital Partners and Pavilion Capital. Was being done. In silico founders and CEOs Alex Zhavoronkov and PhD have also invested in the Series D round.
The capital raised in the round will further strengthen in silico’s financial position and drive the growth of its advancing pipeline, including lead programs. This is now Continued development of the Pharma.AI platform in Phase I research. Revenues also fund ongoing global expansion and planned strategic initiatives. This includes a fully automated AI-powered robot drug discovery laboratory and a fully robotic biological data factory that complements In silico’s vast curated data assets.
“Despite unprecedented market conditions in the biotechnology sector, we have sourced this Series D round from some of the most reputable US-based investors in the world.” Dr. Alex Zhavoronkov, Founder and CEO of Insilico Medicine, said: “This is an end-to-end AI platform that has been validated by many partners, discovered using AI and aging research, and created the first new anti-fibrotic program designed using a generative AI chemistry engine. This unique program has completed the first human Phase 0 trial in healthy volunteers and participated in Phase I clinical trials, and many others since 2021. We have nominated seven preclinical candidates for disease indications. We are very excited about this progress and have decided to personally invest in this round. “
“The application of artificial intelligence and machine learning for drug discovery has incredible potential to transform the way new therapies are developed.” Minfang, Managing Director of China Healthcare at Warburg Pincus, said. “For in silico, 2022 was an incredible year of growth and progress. They combine deep scientific expertise with state-of-the-art technological capabilities to demonstrate the value of significantly accelerating drug discovery. We are pleased to continue our partnership with the In silico team and support companies at the forefront of this innovation. ”
Since the last round of funding, Insilico has developed a growing portfolio in the frontier area powered by its own AI platform. The seven programs in the internal pipeline are in the IND-ready stage, including: A new 3CL protease inhibitor for the treatment of COVID-19And two synthetic lethality programs MAT2A When USP1 For oncology. In addition, the Phase 0 microdose research was successfully completed. Participate in Phase I clinical trials It has the first in-house development program for fibrosis.
“We joined the company in 2021 with the power of a state-of-the-art AI platform fully developed in-house and validated by many global pharmaceutical companies, and an innovative, highly parallelized, fully decentralized drug discovery model. Since then, we have nominated seven preclinical candidates. ” Dr. Feng Ren, Chief Scientific Officer and Head of Global R & D at In Silico, said:.. “I have 15 years of experience in major pharmaceutical companies and CROs and am impressed with the speed and quality of the discovery program. We will continue to broaden our pipeline and enhance AI and robotics capabilities globally. Our rapidly growing team is made up of drug discovery talents and experienced scientists with a diverse background and a relentless passion for innovation and innovation, waiting patients. We are fully committed to developing new drugs with a sense of urgency. ”
Insilico is also expanding its collaboration with the pharmaceutical industry through collaborative development and software licensing agreements with many major pharmaceutical companies. Since the launch of Panda Omics ™ and Chemistry 42 ™ in late 2020, nine of the top 20 pharmaceutical companies have licensed Insilico’s AI platform. In 2022, in silico signed a multi-asset partnership agreement with Fosun Pharma and EQRX in January and a drug discovery joint development agreement with EQRx in March. In silico, in particular, achieved the first major milestone, Nominated as Preclinical Candidate for QPCTL Program for Cancer Immunotherapy Within 40 days of strategic collaboration with Fosun Pharma.
About in silico medicine
Insilico Medicine, a clinical-stage, end-to-end artificial intelligence (AI) -led drug discovery company, uses next-generation AI systems to connect biology, chemistry, and clinical trial analysis. The company has developed an AI platform that leverages deep generative models, reinforcement learning, transformers, and other state-of-the-art machine learning techniques to discover new targets and design new molecular structures with desired properties. Insilico Medicine offers breakthrough solutions for discovering and developing innovative medicines for cancer, fibrosis, immunity, central nervous system diseases and aging-related diseases.