Insilico Medicine Inc. is considering an initial public offering after securing funding at a valuation of more than $1 billion, reflecting growing interest in the potential use of AI to discover ground-breaking new drugs. US-based Insilico, which has extensive operations in China, secured $110 million in a financing round led by Value Partners Group. Existing backers including Warburg Pincus, US biotech investor OrbiMed Advisors Llc and the venture arm of Eli Lilly & Co. participated, the company said in a statement. Investor interest in generative AI startups has soared around the region since the emergence of China’s DeepSeek demonstrated advances made outside the US, Chief Executive Officer Alex Zhavoronkov told Bloomberg News. The Series E funding took Insilico’s valuation to well above $1 billion, he added. Insilico and rivals like Atomwise Inc. and BenevolentAI aim to use AI to improve drug discovery, historically a time-consuming and costly process. It’s one of the fields AI optimists have been most enthusiastic about, though the concept has so far failed to live up to its early promise for drug development.

Full report : Boston-based Insilico, which uses AI for drug discovery and has extensive operations in China, raised a $110 million Series E led by Value Partners at a $1 billion valuation.