Insilico secures $110M in new funding for AI-designed pipeline

Insilico Medicine, a leading AI-driven drug discovery company, has secured $110 million in Series E funding to advance its AI-designed drug pipeline and clinical trials. Here are the key details:

Funding Details

- Amount raised:
$110 million in Series E funding

- Lead investor:
Hong Kong-based Value Partners

- Other investors:
Warburg Pincus, OrbiMed Advisors, Eli Lilly's venture arm, and new undisclosed investors

- Valuation:
Over $1 billion, achieving unicorn status1 16

Use of Funds

Accelerate clinical trials of AI-designed drug candidates
Further develop AI-driven drug discovery programs and platform
Support pivotal clinical trials for lead drug candidate rentosertib (ISM001-055) for idiopathic pulmonary fibrosis1

Pipeline Progress

- Rentosertib (ISM001-055):

Phase IIa trial in China showed dose-dependent improvements in lung capacity
Phase I trials ongoing in U.S. and China

- ISM6331:
Phase I trials begun for mesothelioma and other solid tumors
- 30 total drug candidates in pipeline, 10 with FDA clearance for human studies1

AI Platform Capabilities

- PandaOmics:
AI target discovery engine

- Chemistry42:
AI compound generation engine
- Can design and test drug candidates in average of 13 months1

Other Developments

Unveiled prototype of humanoid lab robot "Supervisor" to perform routine laboratory tasks1
Considering IPO options, primarily looking at Hong Kong listing1
Established partnerships with companies like Fosun Pharma, Exelixis, Sanofi, with total contract values approaching $3.5 billion1

This funding round demonstrates continued investor confidence in Insilico's AI-driven approach to drug discovery and development, positioning the company for further growth and advancement of its pipeline.

Sources:

1. https://www.biopharmatrend.com/post/1162-insilico-medicine-raises-110m-to-advance-ai-drug-design-unveils-its-humanoid-lab-robot/

16. https://longevity.technology/news/insilico-seals-unicorn-status-after-landing-110m-for-ai-drug-discovery/