New York, June 6, 2022 – Insilico Medicine, a clinical-stage end-to-end artificial intelligence (AI)-driven drug discovery company, announced today that it has completed a $60 million Series D financing and launch AI-powered drug discovery robotics laboratory.
Insilico has developed a growing portfolio in frontier areas empowered by its proprietary AI platform. Seven programs in its internal pipeline have progressed to the IND-enabling stage, including a novel 3CL protease inhibitor for COVID-19 treatment, and two synthetic lethality programs targeting MAT2A and USP1 for oncology. It also successfully completed a Phase 0 microdose study and entered a Phase I clinical trial with its first internally developed program targeting fibrosis.
“With the power of cutting-edge AI platforms developed fully in house and validated by many global pharmaceutical companies and our innovative, highly parallel, fully distributed drug discovery model, we nominated seven preclinical candidates since I joined the company in 2021,” said Feng Ren, PhD, Insilico’s Chief Scientific Officer and Head of Global Research and Development. “I have 15 years of experience working in large pharmaceutical companies and CROs and I am impressed by the speed and quality of our discovery programs.”
Capital raised in the round will further bolster Insilico’s financial position and fuel the growth of its advancing pipeline, including its lead program which is currently in a Phase I study, and continued development of its Pharma.AI platform. The proceeds will also fund ongoing global expansion and planned strategic initiatives, including a fully automated, AI-driven robotic drug discovery laboratory, and fully robotic biological data factory to complement Insilico’s vast curated data assets.
“Despite unprecedented market conditions in the biotechnology sector, we raised this Series D round from several of the most reputable US-based and global investors,” said Alex Zhavoronkov, PhD, Founder and CEO of Insilico Medicine. “It is a testament to the strength of our end-to-end AI platform, which has been validated by many partners, and produced our first novel antifibrotic program discovered using AI and aging research, and designed using our generative AI chemistry engine. This unique program completed a first-in-human Phase 0 study in healthy volunteers and has entered Phase I clinical trials. We have also nominated seven preclinical candidates across a number of other disease indications since 2021.”
Insilico has also expanded its collaborations with the pharmaceutical industry through co-development and software licensing deals with a number of major pharmaceutical companies. Since the launch of its PandaOmics™ and Chemistry42™ in late 2020, nine out of the top 20 pharmaceutical companies have licensed Insilico’s AI platforms. In 2022, Insilico signed a multi-asset partnership deal with Fosun Pharma in January, and a drug discovery co-development deal with EQRx in March. Notably, Insilico achieved its first major milestone and nominated a preclinical candidate for the QPCTL program for cancer immunotherapy in less than 40 days into the strategic collaboration with Fosun Pharma.
About Insilico Medicine
Insilico Medicine, a clinical stage end-to-end artificial intelligence (AI)-driven drug discovery company, is connecting biology, chemistry, and clinical trials analysis using next-generation AI systems. The company has developed AI platforms that utilize deep generative models, reinforcement learning, transformers, and other modern machine learning techniques to discover novel targets and to design novel molecular structures with desired properties. Insilico Medicine is delivering breakthrough solutions to discover and develop innovative drugs for cancer, fibrosis, immunity, central nervous system diseases and aging-related diseases.