Insilico was founded in 2014 and claims its AI platforms can produce a drug candidate ready for human trials in about 20 months, significantly faster and cheaper than traditional methods. The company is currently working on 31 AI-discovered drug candidates, with its lead candidate, a potential drug for idiopathic pulmonary fibrosis, in mid-stage human trials. Despite a lapsed IPO application in December, founder Alex Zhavoronkov insists the company still plans to go public when market conditions improve.
Key takeaways:
- Insilico Medicine, a Hong Kong and New York-based company, claims to be ahead in the race to discover the next blockbuster drug using artificial intelligence, with 17 preclinical candidates.
- Insilico recently entered into an agreement that could be worth more than $500 million to license a potential breast cancer drug to Stemline Therapeutics, a subsidiary of Menarini Group.
- The company's AI platforms can reportedly produce a drug candidate ready for human trials in about 20 months, which is at least twice as fast as the traditional approach.
- Insilico filed for a Hong Kong initial public offering in June, and despite the application lapsing in December, the company has not abandoned its listing plan.