Sunday, 22 September 2019

Insilico Medicine secures $37M in series B funding

10 September 2019 | News

The Series B funding will be used to commercialize the validated generative chemistry and target identification technology.

image credit- istock.com

image credit- istock.com

Hong Kong headquartered Insilico Medicine, a pioneer in next-generation artificial intelligence technology for drug discovery, recently completes a $37 million funding round led by Qiming Venture Partners, joined by Eight Roads, F-Prime Capital, Lilly Asia Ventures, Sinovation Ventures, Baidu Ventures, Pavilion Capital, BOLD Capital Partners and other investors including series A investors.

The Series B funding will be used to commercialize the validated generative chemistry and target identification technology. The company will also build up a senior management team with the experience in the pharmaceutical industry, further develop its pipeline in cancer, fibrosis, NASH, immunology and CNS for the purposes of partnering with the pharmaceutical companies on specific therapeutic programs.

Insilico Medicine has developed and validated a comprehensive drug discovery pipeline which includes a state-of-the-art molecular generator utilizing multiple proprietary generative and reinforcement learning technologies. The company identified promising targets in a variety of therapeutic modalities including cancer, fibrosis, NASH, immunology and CNS. Through a network of joint ventures, partnerships with early-stage biotechnology and large pharmaceutical companies, Insilico Medicine is powering the new digital-age biopharmaceutical industry.

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