Insilico Medicine, a global leader in end-to-end artificial intelligence for 
target discovery, small molecule chemistry, and clinical development, announced 
that it has closed a $255 million Series C financing led by Warburg Pincus. The 
financing was also participated by current investors including Qiming Venture 
Partners, Pavilion Capital, Eight Roads Ventures, Lilly Asia Ventures, 
Sinovation Ventures, BOLD Capital Partners, Formic Ventures, Baidu Ventures, 
and new investors including CPE, OrbiMed, Mirae Asset Capital, B Capital Group, 
Deerfield Management, Maison Capital, Lake Bleu Capital, President 
International Development Corporation, Sequoia Capital China and Sage Partners.

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As a pioneer and leader in the industry, Insilico Medicine has built a strong 
drug discovery and drug development team, a broad distributed discovery partner 
network, and initiated multiple internal therapeutic programs.  The Company 
demonstrated the first case of AI identifying a novel target for a major 
pulmonary disease, generating novel molecules for that novel target, and 
completing the preclinical experiments required to nominate a preclinical 
candidate in under 18 months. Insilico Medicine also developed the AI-powered 
drug discovery platform consisting of PandaOmics(TM) AI-powered novel target 
discovery engine, Chemistry42(TM) deep generative reinforcement learning system 
allowing for de-novo design of novel molecules with the desired properties that 
do not exist in the known chemical space, and InClinico(TM), which predicts 
clinical trial outcomes.

Proceeds from the financing will be used to progress Insilico Medicine's 
current therapeutic programs into human clinical trials, initiate multiple new 
programs for novel and difficult targets, and further develop its AI and drug 
discovery capabilities.

Alex Zhavoronkov, PhD, founder and CEO of Insilico Medicine said, "The 
artificial intelligence technologies we invented are now demonstrating 
impressive results in both biology and chemistry delivering valuable and 
absolutely novel therapeutic assets with high probability of clinical success.  
We are pleased and proud to have gained the recognition and investment from 
some of the world's most reputable investors with strong expertise in the 
biopharmaceutical industry. With their support, we will continue to innovate 
and bring revolutionary solutions to the pharmaceutical industry."

Min Fang, Managing Director at Warburg Pincus, will join Insilico Medicine's 
Board of Directors. 

Fred Hassan, former Chairman and CEO of Schering Plough Corporation, commented 
on behalf of Warburg Pincus, "Artificial Intelligence and Machine Learning is a 
powerful tool to revolutionize the drug discovery process and bring 
life-changing therapies to patients faster than ever before. We are pleased to 
partner with Insilico, which has demonstrated strong value proof of its AI 
technologies both through partnerships with leading pharmaceutical and biotech 
companies and the development of exciting internal pipeline.  Insilico fits 
strongly with our strategy of investing in the best-in-class innovators in the 
healthcare and we will continue to support the company's ambitious vision of 
transforming drug discovery through harnessing AI and Machine Learning."

Since the previous round of financing, Insilico Medicine is making its 
technologies available for licensing for the leading pharmaceutical and 
biotechnology companies looking to gain a head start in AI and accelerate their 
drug discovery programs. It has collaborated with first-in-class 
biopharmaceutical companies, including Pfizer, Astellas, Johnson & Johnson, 
Taisho, and many others, with multiple partners reaching major milestones. 
Insilico Medicine also exclusively partnered with the main innovative 
sustainable agriculture company, Syngenta, on the discovery of novel molecules 
for sustainable regenerative farming.  Since the launch of Chemistry42 in 
September 2020, 7 out of the top 30 pharmaceutical companies deployed its 
software, including Merck KGaA and UCB.  Insilico Medicine also built a drug 
discovery team and platform in China and started multiple therapeutic programs 
targeting novel, difficult, and previously undruggable targets.

About Insilico Medicine

Insilico Medicine develops artificial intelligence systems that utilize deep 
generative models, reinforcement learning (RL), transformers, and other modern 
machine learning techniques for the generation of new molecular structures with 
specific properties. Insilico Medicine also develops software for the 
generation of synthetic biological data, target identification, and the 
prediction of clinical trials outcomes. The company integrates two business 
models; providing AI-powered drug discovery services and software through its 
Pharma.AI platform (www.insilico.com/platform/) and developing its own pipeline 
of preclinical programs. It has demonstrated the ability to identify the novel 
target for a major disease, generate and validate novel molecules with the 
desired properties for that target and nominate a preclinical candidate in 
under 18 months. Since its inception in 2014, Insilico Medicine has raised over 
$310 million from expert pharmaceutical, and technology investors, and received 
multiple industry awards. Insilico Medicine has also published over 130 
peer-reviewed papers and has applied for over 30 patents. For more information, 
please visit www.insilico.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on growth 
investing. The firm has more than $60 billion in private equity assets under 
management. The firm's active portfolio of more than 200 companies is highly 
diversified by stage, sector, and geography. Warburg Pincus is an experienced 
partner to management teams seeking to build durable companies with sustainable 
value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, 
which have invested more than $90 billion in over 930 companies in more than 40 
countries. 

Since entering China in 1994, Warburg Pincus has invested nearly $14 billion in 
nearly 140 companies in the region. Warburg Pincus is one of the most active 
investors in the China healthcare industry, having invested more than $1.85 
billion in the sector. Select investment cases include Abbisko Therapeutics, 
Haihe Biopharma, Lepu Medical, Wuxi AppTec, China Biologics, Hygeia and Jinxin 
Fertility, etc. For more information please visit www.warburgpincus.com. 

CONTACT: Polly Firs, polly.firs@insilicomedicine.com

SOURCE: Insilico Medicine Hong Kong Limited