Insilico Medicine, a tech-enabled drug discovery company, recently closed an oversubscribed Series E funding round, securing a whopping $110 million from a large equity fund of Value Partners Group and both new and existing investors. This Massachusetts-based company is known for its proprietary generative AI platform, Pharma.AI, which combines biology, clinical medicine, scientific research, and generative chemistry to drive drug discovery.
One of Insilico’s standout features is its AI Scientist, Insilico, a bipedal humanoid AI working in the company’s robotic lab, Life Star1. This lab is fully automated and connected to Pharma.AI, allowing for optimized and automated research workflows. With the latest funding injection, Insilico plans to advance its drug pipeline, AI platform, and biopharmaceutical research and development efforts. Additionally, the company aims to expand collaborations within the industry and further apply its AI platform across various scenarios in the life sciences sector.
“We are excited to partner with Insilico Medicine in its mission to transform drug discovery with AI and automation,” said Dr. Chuen Yan Leung, partner at Value Partners Group. “Insilico’s advancements will not only accelerate the development of life-saving therapies but also redefine the future of biopharmaceutical R&D.”
In terms of market activity, Insilico recently inked a licensing agreement with the Menarini Group, allowing a subsidiary of Menarini to leverage an AI-discovered preclinical asset focused on oncology. This agreement could potentially yield over $550 million in value through development, regulatory, and commercial milestones, in addition to royalties for Insilico.
The AI drug discovery space is heating up, with companies like Manas AI and AION Labs making waves. Manas AI, co-founded by LinkedIn’s Reid Hoffman and renowned oncologist Dr. Siddhartha Mukherjee, secured $24.6 million in seed funding earlier this year. On the other hand, AION Labs, a partnership between major pharma companies and tech giants like Amazon Web Services, is making significant strides in AI-driven life sciences research.
Overall, Insilico Medicine’s latest funding round underscores the growing importance of AI in revolutionizing drug discovery and development. With its cutting-edge technology and strategic partnerships, the company is poised to lead the charge in transforming the biopharmaceutical industry.
