Insilico Medicine, a Hong Kong-based artificial intelligence (AI)-driven drug discovery company, announced the closure of a USD95 million Series D financing round following Series D2 funding. The round was led by Saudi Aramco’s Prosperity7 Ventures. The proceeds will be used to advance its in-house developed product pipeline and accelerate pivotal strategic initiatives, including further development of its Pharma.AI, an end-to-end AI drug development platform, the construction of a fully automated intelligent robotic drug R&D laboratory and robotic biodata factory, and the establishment of regional centers around the globe.
Leadership Update
Following the financing, Insilico Medicine’s chief science officer, Dr. Ren Feng, was nominated to act as co-chief executive officer (CEO).
Product Pipeline
The company currently has seven programs at the IND-enabling stage. These include a novel 3CL protease inhibitor preclinical drug candidate for the treatment of COVID-19 and two “synthetic lethal” antitumor therapies targeting MAT2A and USP1, respectively. Its anti-fibrosis drug candidate has entered Phase I clinical studies in New Zealand and China.-Fineline Info & Tech
