Abu Dhabi, Feb. 01, 2023 (GLOBE NEWSWIRE) — Insilico Medicine (“Insilico”), a clinical-stage artificial intelligence (AI)-led drug discovery company, today announces the opening of the Insilico Medicine Generation Artificial Intelligence and Center Quantum Computing Research and Development in Abu Dhabi, the largest AI-powered biotechnology research center in the region.
Located in the headquarters of the International Renewable Energy Agency (IRENA) in Masdar City, Abu Dhabi’s flagship sustainable urban development project, the research and development (R&D) hub will house global talent in artificial intelligence and software development dedicated to expanding Insilico’s end-to-end capabilities . -end AI-driven drug discovery platform, Pharma.AI, exploring aging research and sustainable chemistry, and supporting the digital transformation of healthcare in the region.
The grand opening took place at the IRENA headquarters atrium in Masdar City, which saw nearly 100 ecosystem partners from government, academia, the investment community, and the AI and biotechnology industry. The event featured speeches from HE Omar Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, Alex Zhavoronkov, Ph.D., Founder and CEO of Insilico, and Alex Aliper, Ph.D., President of Insilico.
“Due to its prime location, strong and stable economy, developed infrastructure, and highly skilled talent, Abu Dhabi is an emerging hub that attracts high-tech companies from around the world. We are excited to be a part of this,” said Alex Aliper, Ph.D., President of Insilico, who will act as general manager of the regional hub. “We plan to hire locally and work closely with biotech companies and academic partners to license Insilico’s proprietary software and collaborate on joint research projects to facilitate the digital transformation of the local healthcare industry.”
“This is exactly the kind of pioneering work in artificial intelligence that we aim to support in our free zone and innovation ecosystem,” said Ahmed Bachoum, acting CEO of Masdar City. “We’re excited about this milestone for Insilico Medicine – especially since it’s taking place during the Year of Sustainability. We look forward to the transformational research that will come from this incredible new hub, and we thank the Abu Dhabi Investment Office for attracting organizations of this nature to Masdar City.”
Insilico has made steady progress into the Middle East. On January 31, 2023, the Company announced that it will receive support from the Abu Dhabi Investment Office (ADIO) to establish its regional headquarters in Abu Dhabi focused on R&D for its AI platform. Eng. Abdulla Abdul Aziz AlShamsi, Acting Director General of the Abu Dhabi Investment Office, said: “ADIO congratulates Insilico Medicine on the opening of a regional Headquarters in the UAE capital. Abu Dhabi’s priority is to promote technology solutions that will contribute to economic progress for the region and beyond. Insilico Medicine is a great example of the success of that strategy, and proof of the limitless opportunities available to health technology companies in Abu Dhabi.”
In August 2022, the Company announced a Series D2 investment led by Prosperity7 Ventures, Aramco Ventures’ diversified growth fund, expanding its AI biotechnology expertise into Saudi Arabia. The company also signed a Memorandum of Understanding with the Saudi Arabian Ministry of Investment, including providing Insilico end-to-end AI drug discovery platform to local biotech companies, partnering with local biotechs on robotic drug discovery, adding clinical trial expertise local. , and further develop projects that extend healthy and productive longevity.
Insilico founder and CEO Alex Zhavoronkov, Ph.D., was also a featured speaker at the AI World Summit in Riyadh, Saudi Arabia, in September 2022, an event focused on AI for the benefit of humanity.
“Since its inception, our mission has been to extend healthy, productive longevity for everyone on the planet. Over the past ten years, we have developed a platform for drug discovery and longevity and become one of the largest companies in this field. Now, we want to expand our global infrastructure to the Middle East,” said Alex Zhavoronkov, Ph.D., founder and CEO of Insilico Medicine. “We look forward to expanding our presence and connections in the region by creating a true AI drug discovery hub in Abu Dhabi.”
About Insilico Medicine
Insilico Medicine, an end-to-end clinical stage drug discovery company led by artificial intelligence (AI), connects biology, chemistry, and clinical trials using next-generation AI systems. The company has developed AI platforms that use deep generative models, reinforcement learning, transforms, and other modern machine learning techniques to discover novel targets and design novel molecular structures with desired properties. Insilico Medicine provides cutting-edge solutions for the discovery and development of innovative drugs for cancer, fibrosis, immunity, central nervous system (CNS), and aging-related diseases.
For more information, visit www.insilico.com
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Launch of Insilico Medicine AI and Quantum Computing R&D Center in Abu Dhabi