Insilico Medicine, Hong Kongese drug development and artificial intelligence company, has raised $37 million in a Series B round of financing led by China-based Qiming Venture Partners.
The funding round also had participation from Eight Roads, F-Prime Capital, Lilly Asia Ventures, Sinovation Ventures, Baidu Ventures, Pavilion Capital, Bold Capital Partners, among others
Insilico Medicine will leverage the new capital to commercialize the validated generative chemistry and target identification technology, build up a senior management team with the experience in the pharmaceutical industry.
The startup will also use the funds to further develop its pipeline in cancer, fibrosis, non-alcoholic steatohepatitis, immunology and central nervous system for the purposes of partnering with the pharmaceutical companies on specific therapeutic programs.