Longevity Vision Fund, one of the few life extension-focused funds in the world, announced on Thursday it had invested into Insilico Medicine, a pioneer in next-generation artificial intelligence technology for drug discovery led by Alex Zhavoronkov.
This completes a $37 million Series B funding round total together with other investors including Qiming Venture Partners, Eight Roads, F-Prime Capital, Lilly Asia Ventures, Sinovation Ventures, Baidu Ventures, Pavilion Capital, BOLD Capital Partners, Juvenescence and Oculus VR co-founder Michel Antonov.
Sergey Young, Founder of Longevity Vision Fund, exclusively told AMEinfo:
“Artificial intelligence (AI) plays an important role in the future of healthcare and is one of the key investment interests for Longevity Vision Fund. Apart from speeding up the process of designing new drugs from years to just days, AI can also democratize and decentralize pharma and digital healthcare. The epicenter of longevity can now be anywhere in the world – not just in USA and China, but anywhere in the Middle East.”
New drug candidates in days not years
The announcement comes amongst Insilico’s resonant publication of its latest research paper in Nature Biotechnology, which sent shockwaves through the biomedical industry by demonstrating Insilico’s capability to design, synthesize and validate a novel drug candidate in just 46 days, compared to the typical 2-3 years required for a standard approach used by the majority of pharma companies.
With a typical estimated $2.6 billion price tag of developing a new treatment, Insilico’s AI-powered drug discovery technology has unparalleled disruptive potential – cutting drug development costs not only by shortening the drug development timeframe, but also by eliminating many false starts, which can occur at any stage of the development process.
This investment fits Longevity Vision Fund’s mission of accelerating longevity breakthroughs and, on a more personal level, the goal of the fund’s Founder Sergey Young to democratize longevity technology and make it more affordable and accessible.
“Insilico leads an important breakthrough in accelerating progress in drug discovery. I am excited to see the shortening of time and the reduction in drug discovery costs in the near future. This has the potential to change billions of lives,” said Sergey Young.
The Series B funding will be used to commercialize the validated generative chemistry and target identification technology. The company will also build up a senior management team with the experience in the pharmaceutical industry, further develop its pipeline in cancer, fibrosis, NASH, immunology and CNS for the purposes of partnering with the pharmaceutical companies on specific therapeutic programs.
About Longevity Vision Fund
Longevity Vision Fund is a $100M life extension-focused investment fund dedicated to making longevity affordable and accessible to all. The fund accelerates breakthroughs in longevity by investing in start-ups and companies that develop technologies, products, and services that extend human lifespans and overcome the negative effects of aging.
The Fund provides Seed, Series A and Series B funding to biotech and life extension-focused companies that have demonstrated affordable longevity potential and a strong technological infrastructure.