Today, Insilico Medicine, a biopharmaceutical company specializing in generative artificial intelligence (AI) technology, announced the successful completion of a $110 million Series E financing round. This round was led by a private equity fund under Value Partners Group (HKG:0806), Pudong New Area Investment, Shanghai Pudong Development Bank Group, Sichuan Innovation Investment, and Yixing State-owned Assets Supervision and Administration Commission. Several new investors focused on the industry and technology sectors also participated, along with strong support from existing investors.
Insilico Medicine stated that the funds raised will primarily be used to drive breakthroughs in its AI platform and drug discovery pipeline. Specifically, the funds will be allocated in two key areas: Firstly, to refine and enhance Insilico Medicine's proprietary AI models and algorithms, and simultaneously upgrade and expand its leading automated robotic laboratory to automate and optimize the R&D process, further improving R&D efficiency and accuracy.
Secondly, Insilico Medicine will invest in clinical validation of its core drug candidates, particularly those for the treatment of idiopathic pulmonary fibrosis (IPF). The company will also accelerate exploration of other independently developed and collaboratively developed drug pipelines, aiming for more groundbreaking innovations in biopharmaceutical R&D.
As a generative AI-powered biopharmaceutical company, Insilico Medicine's successful Series E financing round not only injects strong momentum into its future development but also demonstrates the capital market's recognition and confidence in Insilico Medicine's innovative capabilities in the biopharmaceutical field.
