Insilico Medicine is on the brink of completing its phase-one clinical trials, conducted simultaneously in Australia and China, with results anticipated early next year. According to Zhavoronkov, the company does not foresee any surprises in these outcomes.
Looking ahead, Insilico is open to partnerships for its phase-two clinical trials, with the locations yet to be determined. Zhavoronkov highlighted China as a logical market for these trials, citing the country's capability for rapid enrolment and the recent enhancement in the quality of clinical trial data.
Since its inception in 2014, Insilico has been generating revenue through the sale of its drug candidates and by offering generative AI drug discovery software services. A notable transaction occurred in January when the company sold its preclinical drug candidate for breast cancer treatment to the Italian-based pharmaceutical company Menarini Group. This deal has the potential to exceed US$500 million.
Insilico's financial health appears robust, with last year's revenue reported at US$51 million and expectations to double this year. Despite being "reasonably well-funded," the company remains open to additional funding opportunities.
In terms of public offerings, Insilico had initially planned to go public in New York but shifted its focus to Hong Kong in June last year. However, concerns over market sentiment led to a postponement of these plans in January. Although market conditions have seen recent improvements, they are not yet favorable enough for Insilico to proceed with its public offering, as per Zhavoronkov's assessment.
