Insilico Medicine Raises $110 Million to Propel Clinical Trials and AI Development Amid IPO Considerations
53m ago
Insilico Medicine Considers IPO After Securing $110 Million Funding
- Insilico Medicine Inc. is considering an initial public offering after securing funding at a valuation of more than $1 billion, reflecting growing interest in AI for drug discovery.1
- The startup has filed for a Hong Kong IPO twice, in 2023 and 2024, but let those applications lapse without proceeding to take investor orders.1
- Insilico Medicine is considering an IPO after raising $110 million, valuing the company at over $1 billion.
- The startup has previously filed for a Hong Kong IPO twice but let those applications lapse.
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10h ago
Background
- Insilico Medicine raised $110 million to support pivotal clinical trials of its lead candidate for idiopathic pulmonary fibrosis and the development of a humanoid lab robot.1
- The funds will help refine Insilico's AI models and support pivotal clinical trials of its lead drug candidate, now named rentosertib, which was developed using generative AI.1
- Insilico's founder and CEO Alex Zhavoronkov stated that the funds raised will accelerate the advancement of their drug pipeline and AI platform, solidifying Insilico's leadership in the sector.2
- Insilico has begun dosing in China and the U.S. with ISM6331, its wholly-owned molecule aimed at mesothelioma and other solid tumors.1
- Insilico Medicine raised $110 million to support pivotal clinical trials of its lead candidate for idiopathic pulmonary fibrosis and develop a humanoid lab robot.
- The funds will refine Insilico's AI models and support clinical trials for rentosertib, developed using generative AI.
- CEO Alex Zhavoronkov stated the funds will accelerate their drug pipeline and AI platform, solidifying Insilico's leadership.