Insilico Medicine, a Hong Kong-based developer of next-generation artificial intelligence technology for drug discovery, completed a $37m Series B funding round.
The round was led by Qiming Venture Partners, joined by Eight Roads, F-Prime Capital, Lilly Asia Ventures, Sinovation Ventures, Baidu Ventures, Pavilion Capital, Bold Capital Partners and others.
The company intends to use the funds to:
– commercialize the validated generative chemistry and target identification technology,
– build up a senior management team with the experience in the pharmaceutical industry,
– further develop its pipeline in cancer, fibrosis, NASH, immunology and CNS for the purposes of partnering with the pharmaceutical companies on specific therapeutic programs.
Insilico Medicine is an artificial intelligence company dedicated to developing and applying deep learning approaches to every step of the drug discovery and drug development process. The company is collaborating with biopharmaceutical companies with disease-relevant assays to validate its solutions and generate high-quality machine-learnable data.
Insilico identified promising targets in a variety of therapeutic modalities including cancer, fibrosis, NASH, immunology and CNS.