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Insilico Medicine raises $95 M to further expand AI capabilities

11 August 2022 | News

The new Series D capital will support the continued advancement of Insilico’s pipeline

Image credit: shutterstock

Image credit: shutterstock

Hong Kong-based startup Insilico Medicine, a clinical-stage end-to-end artificial intelligence (AI)-driven drug discovery company, has completed a second closing of its Series D round, led by Prosperity7 Ventures, the diversified growth fund of Aramco Ventures, bringing the total Series D financing to $95 million. Other global investors with expertise in the biopharmaceutical and life sciences sectors also participated.

The new Series D capital will support the continued advancement of Insilico’s pipeline, including its lead program which is currently in a Phase 1 study in New Zealand and in China, as well as several pipeline programs in IND-enabling studies. The proceeds will also fund other key strategic initiatives, including further development of its end-to-end Pharma.AI platform, the launch of a fully automated, AI-driven robotic drug discovery laboratory and biological data factory, and the establishment of regional centers.

The investment from Prosperity7 further diversifies the company’s investor base globally and brings a potential strategic partner with deep expertise in high-performance and environmentally friendly energy R&D. Relying on Prosperity7's global network and generous resources, Insilico will expand its AI capabilities from drug R&D to multiple areas, including sustainable chemistry, green energy, and agriculture to actively support sustainable development. Insilico had already leveraged the power of its platform to accelerate innovation in sustainable agriculture in a multi-year collaboration with Syngenta which validated that the platform’s capabilities in AI-enabled multiparameter optimization could create substantial value.

 

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