BEIJING and HONG KONG, CHINA, March 17, 2020 (9 AM Beijing time) - Beijing Tide Pharmaceutical Co., Ltd. (Tide), a subsidiary of Sino Biopharmaceutical Limited, and Insilico Medicine, an artificial intelligence company developing end-to-end drug discovery pipelines, announced today that they are entering a collaboration, applying artificial intelligence (AI) technology to drug discovery, to jointly accelerate the process for multiple types of cancer treatment. This agreement includes an upfront payment, milestone payments, and royalties based on the sales of the products from the collaboration.
"Tide is the second pharma company of Sino Biopharmaceutical Limited working with Insilico Medicine. We see a great potential of applying AI technology to drug discovery and healthcare sections, and we will invest more in AI applications," said Sino Biopharmaceutical Limited's Chairlady Theresa Tse.
Alex Zhavoronkov, CEO of Insilico Medicine, is likewise excited about the joint effort: "This collaboration was established for a single purpose: to support combined efforts to find a cure for and eliminate cancer. By using our resources and working with others dedicated to a common cause, there is a hope that together we can beat this disease."
Tide is a high-tech pharmaceutical enterprise in China with the capability of developing, manufacturing as well as marketing series of targeted drugs. Through years of experience, Tide has been identified as one of the innovation pilot enterprises, committed to innovation in science and technology. With the help of Insilico Medicine's AI platform, the new era of research and development of the Pharmaceutical industry has arrived. Tide Pharmaceutical and Insilico Medicine look forward to a long term and win-win partnership from the joint alliance of both companies.
Last September Insilico Medicine published a landmark paper in Nature Biotechnology demonstrating the application of its generative tensorial reinforcement learning systems to generate novel molecules for kinases in just 46 days including experimental validation which was widely covered by the press. The emerging AI technologies are expected to improve drug discovery process, and Tide commits to be a part of the AI revolution.
About Beijing Tide Pharmaceutical Co., Ltd
Beijing Tide Pharmaceutical Co., Ltd (Tide) is an innovative pharmaceutical company with integrated R&D, manufacturing, marketing, sales, and distribution capabilities. Beijing Tide is a major subsidiary company in Sino Biopharmaceutical Limited. Tide focus on developing both innovative and special formulation drugs in cardiovascular, pain management, respiratory, and oncology. There are both chemical and biological innovative drugs under development in different phases. The leading first-in-class small molecule for various fibrotic diseases is in Phase I trial in US, and there are also several US ANDAs approved or submitted. Tide adheres to the principle of "Care for Life and Keep Innovating." and focuses on the domestic market while aiming at the world market.
About Insilico Medicine
Insilico Medicine is an artificial intelligence company headquartered in Hong Kong, with offices in 6 countries. The company was the first to apply the generative adversarial networks (GANs) and reinforcement learning (RL) to generate new molecular structures with the specified parameters in 2015. In addition to collaborating with large pharmaceutical companies, Insilico Medicine is also pursuing internal drug discovery programs in different types of diseases and anti-aging fields. Recently, Insilico Medicine published a paper in Nature Biotechnology, hits found within 46 days, and secured $37 million in series B funding. Website?http://insilico.