Date: 10th September 2019
Insilico Medicine was founded in 2014 by CEO Alex Zhavoronkov as an alternative to animal research models. Driven by using artificial intelligence for drug discovery and aging research their aspiration is to be world leaders in deep learning with a view to extending healthy longevity. They have developed an extensive drug discover engine which has access to millions of samples and data and can identify promising drug targets for billions of already existing molecules or ones that can be newly synthesised.
This series B funding of $37M was led by Qiming Venture Partners, a leading venture capital firm based in China, who own a portfolio of fast-growing, innovative companies. This funding will be used to commercialise their validated generative chemistry and target identification technology. They also aim to solidify their expansion into the pharma industry by strengthening the senior management team with experts in the field. The identification of promising targets for varying crippling diseases such as cancer, fibrosis and liver disease, amongst others, will be further developed and, with a strong collaborative ethos, it is hoped that together with their partners they can provide a next-generation of digital solutions for drug discovery.
For further details read the press release.