Abu Dhabi, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Insilico Medicine ("Insilico"), a clinical-stage artificial intelligence (AI)-driven drug discovery company, is announcing today the opening of the Insilico Medicine Generative Artificial Intelligence and Quantum Computing Research and Development Center in Abu Dhabi, the region’s largest AI-powered biotechnology research center.
Located in the International Renewable Energy Agency (IRENA) headquarters in Masdar City, Abu Dhabi’s flagship sustainable urban development, the research and development (R&D) hub 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, and supporting the digital transformation of healthcare in the region.
The grand opening occurred at the IRENA headquarters atrium in Masdar City, witnessed by nearly 100 ecosystem partners from the government, academia, the investment community, and the AI and biotech industry. The event featured speeches from H.E. Omar Al Olama, the 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.
“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,” said Alex Aliper, Ph.D., President of Insilico, who will serve as the regional hub’s general manager. “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 groundbreaking work in artificial intelligence that we aim to support in our free zone and innovation ecosystem,” said Ahmed Baghoum, the acting CEO of Masdar City. “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 certainly come out of this incredible new hub, and we thank the Abu Dhabi Investment Office for attracting these kinds of organizations to Masdar City.”
Insilico has made steady inroads 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 HQ 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 HQ in the UAE capital. Abu Dhabi has made it a priority to advance technological solutions that further economic progress for the region and beyond. 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. The company also signed a Memorandum of Understanding with the Ministry of Investment of Saudi Arabia, which includes 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.
Insilico founder and CEO Alex Zhavoronkov, Ph.D., was also a featured speaker at the Global AI Summit in Riyadh, Saudi Arabia, in Sept. 2022, an event focused on AI for the good of humanity.
“Since our very inception, our mission has been to extend healthy, productive longevity for everyone on the planet. Over the past decade, we developed a platform for drug discovery and longevity and became one of the dominant companies in this field. Now, we would like to extend 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, a clinical-stage end-to-end artificial intelligence (AI)-driven drug discovery company, connects biology, chemistry, and clinical trials analysis using next-generation AI systems. The company has developed AI platforms that utilize deep generative models, reinforcement learning, transformers, and other modern machine learning techniques to discover novel targets and design novel molecular structures with desired properties. Insilico Medicine delivers breakthrough solutions to discover and develop innovative drugs for cancer, fibrosis, immunity, central nervous system (CNS), and aging-related diseases.
For more information, visit www.insilico.com
For media inquiries, please contact media@insilicomedicine.com
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