Insilico Medicine submitted a listing application to the Hong Kong Stock Exchange

Healthcare Author: EqualOcean News Mar 28, 2024 06:08 PM (GMT+8)

On March 27, Insilico Medicine, an AI drug research and development company, once again submitted its listing application to the Hong Kong Stock Exchange.

insilico medicine

The joint sponsors were Morgan Stanley and CICC. Fosun Pharma will also make an equity investment in Insilico Medicine. On June 27 last year, Insilico Medicine submitted a report to the Hong Kong Stock Exchange.

Founded in 2014, Insilico is an AI-driven biotechnology company with global operations in the United States, Greater China, Canada and the Middle East. Today, AI technology plays an increasing role in drug discovery as it improves efficiency and accuracy while reducing time-consuming research and development. Currently, the company has a pipeline of 15 drug candidates covering fibrosis, oncology, immunology and other therapeutic areas, six of which have received IND approval for clinical trials. Its core product ISM001-055 is a small molecule drug candidate that mainly treats fibrosis-related indications by inhibiting TRAF2 and NCK-interacting protein kinase ("TNIK"), a newly discovered anti-fibrotic target.

At the same time, Insilico has expanded its cooperation with the biopharmaceutical industry through joint development and software licensing. In January and March 2022, Insilico reached strategic cooperation with Fosun Pharmaceuticals and the American biopharmaceutical company EQRx respectively to jointly promote the research and development of AI drugs for multiple targets globally. It is worth mentioning that in its strategic cooperation with Fosun Pharma, Insilico reached its first major milestone in less than 40 days. In addition, Insilico has also established cooperative relationships with a number of large pharmaceutical companies. Nine of the world's top 20 pharmaceutical companies have authorized the introduction of Insilico's artificial intelligence drug research and development platform.

In 2022 and 2023, Insilico's revenue will be US$30.147 million and US$51.18 million respectively, and its losses during the year will be 222 million yuan and 212 million yuan respectively.

Ren Feng, the company's chief scientific officer and head of global drug research and development, said, "Since I joined Insilico in 2021, with its powerful artificial intelligence platform and innovative drug discovery model, the company has discovered seven preclinical drug candidates. I have more than 15 years of working experience in large pharmaceutical companies and CROs, I am still impressed by the speed and quality of the company's discovery projects. Insilico plans to further broaden the existing R&D pipeline and deploy artificial intelligence and robotics technologies globally. We Our rapidly growing team is composed of talented and experienced drug discovery scientists with diverse backgrounds and a tireless passion for innovation, and is fully committed to accelerating the delivery of new treatment options to patients who desperately need innovative therapies."