Insilico secures $110m for drug development and AI platform

Insilico Medicine has successfully concluded a Series E financing round, securing $110 million to further enhance its drug development pipeline and artificial intelligence (AI) platform. This financial injection was primarily led by Value Partners Group’s private equity fund. Additional support came from new investors who specialize in industry and technology, as well as continued contributions from existing global backers.

Central to Insilico's strategy moving forward is the refinement of its AI models and algorithms, alongside the expansion of its automated laboratory. This approach is intended to streamline and optimize research and development processes. A significant focus will be placed on advancing the clinical validation of their treatment for idiopathic pulmonary fibrosis (IPF) and hastening the progress of other drug candidates within their pipeline.

Rentosertib, Insilico's drug candidate for IPF, demonstrated positive tolerability and safety outcomes in a completed Phase IIa clinical trial. Since the last funding round, Insilico has made substantial progress in advancing its Pharma.AI platform and its associated drug discovery pipeline. The platform itself covers a wide range of areas including clinical medicine, generative chemistry, scientific research, and biology.

Enhancements to the platform have been achieved through engines powered by large language models. This includes a multimodal foundation model for natural and chemical languages named Nach01, as well as a multi-agent generative research assistant known as Dora. In an innovative move, Insilico has also recently launched its initial bipedal humanoid AI Scientist within Life Star1, a fully robotic laboratory that seamlessly integrates with the platform.

The company’s extensive drug discovery portfolio, powered by Pharma.AI, now boasts 30 wholly owned assets. Out of these, 10 have obtained investigational new drug clearance, marking significant milestones in their developmental journey.

Alex Zhavoronkov, CEO and founder of Insilico Medicine, emphasized the importance of the newly acquired funds, stating that they would expedite the advancement of both their drug pipeline and AI platform, thereby reinforcing Insilico's leading position within this rapidly evolving sector.

In a strategic collaboration announced in January 2024, Insilico partnered with Stemline Therapeutics, a subsidiary of Menarini, to develop a small molecule KAT6A inhibitor. This partnership aims to target hormone-sensitive cancers, with a particular emphasis on treating ER+/human epidermal growth factor receptor 2-negative breast cancer.

Through these initiatives, Insilico Medicine continues to push the boundaries of drug discovery and development, leveraging cutting-edge AI technology to address pressing medical challenges. The company's focus on integrating advanced AI systems and expanding their automated laboratory facilities represents a forward-thinking approach to modern pharmaceutical research and development. By fostering these advancements, Insilico remains committed to driving innovation and offering potential solutions for complex diseases like idiopathic pulmonary fibrosis and various forms of cancer.