Insilico Medicine has completed a $35 million series D2 round bringing the funding to $95 million.
The D2 round was led by Prosperity7 Ventures, a $1 billion diversified venture capital fund of Armco Ventures.
The new capital will support the continued advancement of Insilico’s pipeline.
Insilico Medicine is a biotechnology company based in Hong Kong. The company combines genomics, big data analysis and deep learning for in silicon drug discovery.
Aysar Tayeb, executive managing director of Prosperity7 Ventures, said: “The deepening application of AI and machine learning for drug discovery has demonstrated a transformative positive impact on the pharmaceutics industry and we are delighted to embark on this partnership with Insilico Medicine, a forerunner leading this innovation.
“Backed by patient capital and the breadth of Aramco’s ecosystem across geographies and sectors, we look to support the company to scale up and expand its footprint globally, to drive biotechnology excellence and bring positive impact for greater wellbeing.”
What does Insilico Medicine do?
Insilico Medicine has multiple global collaborations in the application of next-generation AI technologies such as reinforcement learning and generative adverbial networks to enable the generation of novel molecular structures with desired properties.
These collaborations align with the company’s aim of affiliating with the top companies and institutions to provide space-age solutions for drug discovery and biomarker development.
What is biotechnology?
Biotechnology is the integration of natural science and engineering sciences in order to achieve the application of cells, organism, parts thereof and molecular analogues for services and products.
Biotechnology’s aim is to develop technologies and products that help improve our lives and the health of the planet.
Feng Ren, co-CEO of Insilico Medicine, said: “We have the structure in place as an equal AI and drug development company.
“And a number of exciting developments in motion – including an expended global presence, a robotics lab in development, and significant progress on our internal pipeline programs.
“With this latest funding round, we will be able to scale up our capabilities even further, advancing our internal programs, developing our AI, and aligning with partners in the Saudi region to develop new regional technology hubs.”
