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AI drug discovery platform Insilico Medicine announces $255 million in Series C funding

Insilico Medicine, an AI-based platform for drug development and discovery, announced $255 million in Series C financing on Tuesday. The massive round is reflective of a recent breakthrough for the company: proof that its AI-based platform can create a new target for a disease, develop a bespoke mo…

  • Posted on 31st Aug, 2021 08:54 AM
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AI drug discovery platform Insilico Medicine announces $255 million in Series C funding Image

Insilico Medicine, an AI-based platform for drug development and discovery, announced $255 million in Series C financing on Tuesday. The massive round is reflective of a recent breakthrough for the company: proof that its AI-based platform can create a new target for a disease, develop a bespoke molecule to address it and begin the clinical trial process. 

It’s also yet another indicator that AI and drug discovery continues to be especially attractive for investors. 

Insilico Medicine is a Hong Kong-based company founded in 2014 around one central premise: that AI-assisted systems can identify novel drug targets for untreated diseases, assist in the development of new treatments and eventually predict how well those treatments may perform in clinical trials. Previously, the company had raised $51.3 million in funding, according to Crunchbase

Insilico Medicine’s aim to use AI to drive drug development isn’t particularly new, but there is some data to suggest that the company might actually accomplish that gauntlet of discovery all the way through trial prediction. In 2020, the company identified a novel drug target for idiopathic pulmonary fibrosis, a disease in which tiny air sacs in the lungs become scarred, which makes breathing laborious. 

AI drug discovery platform Insilico Medicine announces $255 million in Series C funding View Story

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