"WuXi AppTec is a leading global pharmaceutical and technology platform company and it has been a privilege to work hand-in-hand with WuXi AppTec's world-class chemists and biologists, who routinely solve some of the most complex challenges presented by the global pharmaceutical industry," said Dr. Alex Zhavoronkov, founder and chief executive officer of Insilico Medicine. "We are fortunate to partner with WuXi AppTec and a consortium of internationally renowned investors with deep domain expertise both in drug discovery and artificial intelligence, validating our approach and supporting our vision."
The funding is intended to enhance Insilico Medicine's work in the innovative approaches to the generation of novel molecules using a variety of machine learning and deep learning techniques, as well as to expand a variety of the biomarker discovery initiatives.
"WuXi AppTec and Insilico Medicine share a mutual vision that artificial intelligence and machine learning will optimize the drug discovery process by increasing the probability of success at the pre-clinical level," said Dr. Ge Li, chairman of WuXi AppTec Group. "Insilico Medicine's domain expertise in next-generation artificial intelligence, coupled with WuXi AppTec's capability platform, can potentially improve the efficiency of drug discovery and increase the productivity to serve our partners."