Insilico Medicine, an end-to-end artificial intelligence for target discovery, small molecule chemistry, and clinical development company, has announced that it has closed a $255 million Series C financing led by Warburg Pincus.
The financing was also participated by current investors including Qiming Venture Partners, Pavilion Capital, Eight Roads Ventures, Lilly Asia Ventures, Sinovation Ventures, BOLD Capital Partners, Formic Ventures, Baidu Ventures, and new investors including CPE, OrbiMed, Mirae Asset Capital, B Capital Group, Deerfield Management, Maison Capital, Lake Bleu Capital, President International Development Corporation, Sequoia Capital China and Sage Partners.
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.”
Min Fang, Managing Director at Warburg Pincus, will join Insilico Medicine’s Board of Directors.
Fred Hassan, former Chairman and CEO of Schering Plough Corporation, commented on behalf of Warburg Pincus, “Artificial Intelligence and Machine Learning is a powerful tool to revolutionize the drug discovery process and bring life-changing therapies to patients faster than ever before. We are pleased to partner with Insilico, which has demonstrated strong value proof of its AI technologies both through partnerships with leading pharmaceutical and biotech companies and the development of exciting internal pipeline. Insilico fits strongly with our strategy of investing in the best-in-class innovators in the healthcare and we will continue to support the company’s ambitious vision of transforming drug discovery through harnessing AI and Machine Learning.”
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