Insilico Medicine, an NYC-based clinical-stage end-to-end artificial intelligence (AI)-driven drug discovery company, announced that it has completed a $60 million Series D.
New investors, including a large, diversified asset management firm on the US West Coast and BHR Partners joined the round, along with current investors, including lead investor of Series C financing round Warburg Pincus, B Capital Group, Qiming Venture Partners, BOLD Capital Partners, and Pavilion Capital. Insilico's founder and CEO, Alex Zhavoronkov, PhD, also invested in the Series D round.
The company intends to use the funds to further bolster its financial position and accelerate the growth of its advancing pipeline, including its lead program which is currently in a Phase I study, and the 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 a fully robotic biological data factory to complement Insilico’s vast curated data assets.
Company: Insilico Medicine, Inc
Raised: $60.0M
Round: Series D
Funding Month: June 2022
Lead Investors:
Additional Investors: Warburg Pincus, B Capital Group, Qiming Venture Partners, BOLD Capital Partners, Pavilion Capital, and Alex Zhavoronkov
Company Website: https://insilico.com/
Software Category: Drug Discovery Platform
About the Company: Led by Alex Zhavoronkov, PhD, Founder, and CEO, 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 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.
Source: https://www.prnewswire.com/in/news-releases/insilico-medicine-raises-60-million-in-series-d-financing-to-advance-pipeline-and-launch-ai-powered-drug-discovery-robotics-laboratory-846080945.html