image: Insilico Medicine gets $255 Million to boost AI-powered R&D view more
Credit: Insilco
June 22, 2021, New York / Hong Kong -- Insilico Medicine, a global leader in end-to-end artificial intelligence for target discovery, small molecule chemistry, and clinical development, announced that it has closed a $255 million from biotechnology experts to progress Insilico Medicine's current therapeutic programs into human clinical trials, initiate multiple new programs for novel and difficult targets, and further develop its AI and drug discovery capabilities.
It also announced that it entered into a collaboration with Teva Branded Pharmaceutical Products R&D, Inc. to utilize Insilico's generative machine learning technology and proprietary PandaOmics Drug Discovery Platform, which aims at identifying novel therapeutic targets implicated in a variety of diseases.
As a pioneer and leader in the industry, Insilico Medicine has built a strong drug discovery and drug development team, a broad distributed discovery partner network, and initiated multiple internal therapeutic programs. Previously, the company published a range of papers on generative chemistry and achieved multiple milestones with the pharmaceutical industry partners. The company demonstrated the first case of AI identifying a novel target for a major pulmonary disease, generating novel molecules for that novel target, and completing the preclinical experiments required to nominate a preclinical candidate in under 18 months. Insilico Medicine also developed the AI-powered drug discovery platform consisting of PandaOmics AI-powered novel target discovery engine, Chemistry42 deep generative reinforcement learning system allowing for de-novo design of novel molecules with the desired properties that do not exist in the known chemical space, and InClinico, which predicts clinical trial outcomes.
Alex Zhavoronkov, PhD, founder and CEO of Insilico Medicine said, "The artificial intelligence technologies we invented are now demonstrating impressive results in both biology and chemistry delivering valuable and absolutely novel therapeutic assets with high probability of clinical success. We are pleased and proud to have gained the recognition and investment from some of the world's most reputable investors with strong expertise in the biopharmaceutical industry. With their support, we will continue to innovate and bring revolutionary solutions to the pharmaceutical industry."
Insilico Medicine is making its technologies available for licensing for the leading pharmaceutical and biotechnology companies looking to gain a head start in AI and accelerate their drug discovery programs. It has collaborated with first-in-class biopharmaceutical companies, including Pfizer, Astellas, Johnson & Johnson, Taisho, and many others, with multiple partners reaching major milestones. Insilico Medicine also exclusively partnered with the main innovative sustainable agriculture company, Syngenta, on the discovery of novel molecules for sustainable regenerative farming. Since the launch of Chemistry42 in September 2020, 7 out of the top 30 pharmaceutical companies deployed its software, including Merck KGaA and UCB. Insilico Medicine also built a drug discovery team and platform in China and started multiple therapeutic programs targeting novel, difficult, and previously undruggable targets.
###
About Insilico Medicine
Insilico Medicine develops artificial intelligence systems that utilize deep generative models, reinforcement learning (RL), transformers, and other modern machine learning techniques for the generation of new molecular structures with specific properties. Insilico Medicine also develops software for the generation of synthetic biological data, target identification, and the prediction of clinical trials outcomes. The company integrates two business models; providing AI-powered drug discovery services and software through its Pharma.AI platform (http://www.insilico.com/platform/) and developing its own pipeline of preclinical programs. It has demonstrated the ability to identify the novel target for a major disease, generate and validate novel molecules with the desired properties for that target and nominate a preclinical candidate in under 18 months. Since its inception in 2014, Insilico Medicine has raised over $310 million from expert pharmaceutical, and technology investors, and received multiple industry awards. Insilico Medicine has also published over 130 peer-reviewed papers and has applied for over 30 patents. For more information, please visit http://www.insilico.com.