Insilico Medicine has completed a Series E financing round, raising $110m to progress the development of its pipeline of drugs and AI platform.
Value Partners Group’s private equity fund led the financing round with additional support from new investors who are focused on the industry and technology, as well as ongoing backing from current worldwide investors.
Go deeper with GlobalData
The company plans to refine its AI models and algorithms and widen its automated laboratory, aiming to streamline research and development processes.
The focus will be on progressing the clinical validation of its idiopathic pulmonary fibrosis (IPF) treatment and expediting the development of other drug pipelines.
Rentosertib, the candidate developed for treating IPF, showed favourable tolerability and safety in a concluded Phase IIa clinical trial.
Since its last funding round, the company has made advancements in the development of the Pharma.AI platform and its drug discovery pipeline.
The platform encompasses clinical medicine, generative chemistry, scientific research and biology.
It has been upgraded with engines driven by large language models such as a multimodal foundation model intended for natural and chemical languages called Nach01, and multi-agent generative research assistant Dora.
Insilico has recently deployed the initial bipedal humanoid AI Scientist in Life Star1, its fully robotic laboratory that integrates with this platform.
The company’s drug discovery portfolio, driven by Pharma.AI, now includes wholly owned 30 assets, with 10 holding investigational new drug clearance.
Insilico Medicine CEO and founder Alex Zhavoronkov stated: “The funds raised will accelerate the advancement of our drug pipeline and AI platform, further solidifying Insilico’s leadership in this rapidly evolving sector.”
In January 2024, the company partnered with Menarini’s subsidiary Stemline Therapeutics to develop a small molecule KAT6A inhibitor aimed at treating hormone-sensitive cancers, with a focus on ER +/human epidermal growth factor receptor 2- breast cancer.
