Abu Dhabi: Insilico Medicine, a clinical-stage artificial intelligence (AI)-driven drug discovery company, has announced the opening of the Insilico Medicine Generative Artificial Intelligence and Quantum Computing Research and Development Centre in Abu Dhabi, the region’s largest AI-powered biotechnology research centre.
The research and development hub, located in the International Renewable Energy Agency (IRENA) headquarters in Masdar City, will comprise global talent in artificial intelligence and software development dedicated to expanding the capabilities of Insilico’s end-to-end AI-driven drug discovery platform, Pharma.AI, exploring aging research and sustainable chemistry, as well as supporting the digital transformation of healthcare in the region.
The prime location, strong and stable economy, developed infrastructure, and highly educated talent make Abu Dhabi an emerging hub that attracts high-tech companies from around the world. We are excited to be a part of this.
Mr. Alex Aliper, President of Insilico, shared.
“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,” Mr. Aliper added.
Mr. Ahmed Baghoum, Acting CEO of Masdar City, commented that “we’re excited about this milestone for Insilico Medicine, particularly given it is taking place during the Year of Sustainability. We look forward to the transformational research that will come out of this incredible new hub. We thank the Abu Dhabi Investment Office for attracting these organisations to Masdar City.”
According to Mr. Abdulla Abdul Aziz AlShamsi, ADIO’s Acting Director-General, Insilico Medicine is a stellar example of the success of that strategy and proof of the limitless opportunities available for health tech companies in Abu Dhabi.
In August 2022, the company announced a Series D2 investment led by Prosperity7 Ventures, the diversified growth fund of Aramco Ventures, expanding its AI biotechnology expertise into Saudi Arabia.
Furthermore, the company had signed a Memorandum of Understanding with the Saudi Arabian Ministry of Investment. The MoU included providing Insilico’s end-to-end AI drug discovery platform to local biotech companies, partnering with local biotechs on robotic drug discovery, contributing to local clinical trial expertise, and further developing projects extending healthy and productive longevity.