CTFH and Insilico Medicine Enter Al Drug Discovery Collaboration Focused On Accelerating First-in-Class Therapeutics, Worth Up to $200 million
HONG KONG and NANJING,China,Oct. 9,2019 -- Insilico Medicine,a company developing an end-to-end drug discovery pipeline utilizing the latest advances in deep learning,has entered into a two-program AI drug discovery collaboration agreement with Jiangsu Chia Tai Fenghai Pharmaceutical Co.,Ltd. (CTFH),taking on previously undruggable targets. This partnership is expected to accelerate drug discovery and development with an AI-enabled platform for triple-negative breast cancer. Insilico Medicine will be eligible to receive up to $200 million for the achievement of milestone payments and royalties based on the net sales on the products from the collaboration.
CTFH is an active adopter of state-of-the-art technologies and has achieved significant milestones in first-in-class drug development. Wenyu Xia,General Manager of CTFH,said: "We are very pleased to establish the partnership with Insilico Medicine,entering the new era of AI-enabled drug development. We look forward to a long-term partnership with Insilico Medicine. As the premier AI drug discovery company in the industry,Insilico Medicine has demonstrated capabilities to generate novel molecules with specified properties using its next-generation AI platform. We believe that this collaboration will speed up the R&D process,reduce the cost and provide greater benefits to patients."
Last month,Insilico Medicine published a landmark paper in Nature Biotechnology,demonstrating the application of its generative tensorial reinforcement learning systems in the generation of novel molecules for simple kinases in 46 days,including experimental validation. It also announced a $37 million round led by prominent biotechnology and AI investors.
About CTFH:
Jiangsu Chia Tai Fenghai Pharmaceutical Co.,Ltd. (CTFH) is an integrated pharmaceutical company with capabilities in R&D,production,sales. It is a joint venture between the Chia-Tai Group (CP Pharmaceutical),a world top 500 company,and Jiangsu Agriculture Reclamation Group. CTFH has developed several finished dosages and active pharmaceutical ingredients including a new formulation of sugar infusions and injections,gastrointestinal,cardiovascular,respiratory,neuropsychopathy and oncology medicines,etc. CTFH focuses on advanced R&D technologies and has established long-term relationships with many companies to provide quality services. CTFH strives to become a global leader in the pharmaceutical industry with relentless pursuit of high product quality,trust of customers,and benefits for patients.
About Insilico Medicine
Insilico Medicine is an artificial intelligence company headquartered in Hong Kong,with offices in six countries and regions. The Company was the first to apply the generative adversarial networks (GANs) and reinforcement learning (RL) to generate new molecular structures with the specified parameters in 2015. In addition to collaborating with large pharmaceutical companies,Insilico Medicine is also pursuing internal drug discovery programs in different disease areas and anti-aging fields. Recently,Insilico Medicine published some of the resuts in Nature Biotechnology,and secured $37 million in series B funding,led by Qiming Venture Partners,joined by Eight Roads,F-Prime Capital,Lilly Asia Ventures,Sinovation Ventures,Baidu Ventures,Pavilion Capital and BOLD Capital Partners. Website http://insilico.com/
CONTACT: Anastasia Steele,+44 7937 256952,ai@insilicomedicine.com
