China’s generative artificial intelligence (AI)-driven biotech Insilico Medicine announced the completion of a USD110 million Series E financing round. The round was led by a private equity fund of Value Partners Group (HKG: 0806), with participation from Shanghai Pudong Venture Investment, Shanghai Pudong Development (Group), Wuxi Innovation Investment, and Yixing State-owned Capital Investment. The financing also saw strong interest from new investors focused on industry and technology, alongside continued support from existing global backers.
Funding Allocation and Strategic Focus
The proceeds from this financing round will be dedicated to advancing Insilico’s innovative drug pipeline and AI platform development. Specifically, the company plans to refine its AI models and algorithms, update and expand its state-of-the-art automatic lab to further automate and streamline R&D processes. Additionally, Insilico will focus on advancing the clinical validation of its flagship candidate for idiopathic pulmonary fibrosis treatment and accelerating the exploration of other independently developed and co-developed drug pipelines.-Fineline Info & Tech
Leave a Reply