A company that uses artificial intelligence to discover and develop new drugs has received a $60 million series D investment to grow its robotics offerings.
Insilico Medicine, based in Hong Kong, said it intends to use the capital to expand its global operations and planned initiatives, including a fully automated, AI-directed robotic drug discovery lab and fully robotic biological data factory.
"We plan to continue expanding the breadth of the pipeline and enhance our AI and robotics capabilities globally," said Feng Ren, PhD, Insilico's chief scientific officer and head of global research and development, in a June 6 company news release. "Our rapidly growing team is composed of talented and experienced scientists in drug discovery with diverse backgrounds and relentless passion for novelty and innovation, and fully committed to developing novel drugs with a sense of urgency for the waiting patients."