Insilico Medicine, a company engaged in generative artificial intelligence for drug discovery, has raised $110 million in a Series E funding round, led by a private equity fund from Value Partners Group.
The proceeds from this financing will be allocated towards advancing the company’s drug development pipeline and improving its AI platform.
The funding will support the enhancement of AI algorithms and models, as well as the expansion of Insilico’s automatic laboratory, which is designed to further streamline and automate research and development activities.
The company is also set to accelerate the clinical validation of its leading candidate for idiopathic pulmonary fibrosis and to push forward with the exploration of additional drug pipelines, both those developed independently and in collaboration with partners.
Following its previous funding round, Insilico has achieved notable progress in both its AI platform and drug discovery initiatives. The firm has highlighted its ability to significantly lower costs and improve efficiency in the early phases of drug discovery through its proprietary platform.
Internal benchmarks for preclinical candidate (PCC) programmes indicate that Insilico has shortened the average time for PCC nomination to 12-18 months, in contrast to the traditional drug discovery timeline of 2.5-4 years, while managing the synthesis and testing of a limited number of molecules per programme.
The Pharma.AI platform, developed by Insilico, receives major updates every six months to ensure it remains at the forefront of technology. This platform integrates generative AI and cutting-edge technologies, providing a holistic solution that spans various fields, including biology, generative chemistry, clinical medicine, and scientific research.
Recent upgrades to Pharma.AI include the introduction of advanced engines powered by large language models (LLMs), such as Nach01, which serves as a multimodal foundation model for both natural and chemical languages, and Dora, a generative research assistant that operates as a multi-agent system.
Recently, Insilico introduced its first bipedal humanoid AI Scientist within Life Star1, a fully automated laboratory connected to Pharma.AI, with the aim of further enhancing and automating research workflows.
Insilico Medicine founder and CEO Alex Zhavoronkov said: “We are thrilled to announce our $110m Series E financing – a key milestone that reflects our unwavering commitment to transforming healthcare and the strong confidence of our investors.
“This round, led by Value Partners and anchored by industry-focused investors, was heavily oversubscribed, drawing exceptional interest from prominent investors.
“The funds raised will accelerate the advancement of our drug pipeline and AI platform, further solidifying Insilico’s leadership in this rapidly evolving sector.
“We remain dedicated to our mission of extending productive longevity to people and are proud to be at the forefront of innovation in healthcare.”
In 2022, Insilico Medicine partnered with the French healthcare company Sanofi. The collaboration aims to use Insilico Medicine’s AI platform, known as Pharma.AI, to enhance the development of drug candidates for as many as six new targets.
