insitro Announces $143 Million Raised in Series B Financing

insitro Announces $143 Million Raised in Series B Financing Proceeds will fund the expansion of insitro’s machine-learning-enabled drug discovery capabilities and the advancement of proprietary and partnered therapeutic programs May 26, 2020 09:00 AM Eastern Daylight Time SAN FRANCISCO--(BUSINESS WIRE)--insitro, a machine-learning driven drug discovery and development company, today announced that it has raised $143 million in an oversubscribed Series B financing. The financing was led by Andreessen Horowitz, with participation from new investors Canada Pension Plan Investment Board (CPP Investments) and funds and accounts advised by T. Rowe Price Associates, Inc. as well as funds managed by BlackRock, Casdin Capital, HOF Capital, WuXi AppTec’s Corporate Venture Fund, and other undisclosed investors. Current investors ARCH Venture Partners, Foresite Capital, GV, Third Rock Ventures, Two Sigma Ventures, and Alexandria Venture Investments also participated in the financing. In addition, insitro announced that Vijay Pande, Ph.D., general partner at Andreessen Horowitz, has been appointed to the board of directors. Proceeds from the financing will be used to continue to build insitro’s foundations of technology and automation, enabling data generation at larger scale and further expanding the capabilities to generate predictive models of human disease. In addition, this capital will be used to prosecute newly identified, genetically validated targets, to identify patient segmentation biomarkers, and to advance therapeutics in genetically-defined patient populations. insitro also plans to establish new, synergistic industry partnerships and build additional ML-enabled capabilities along the R&D value chain in order to accelerate drug discovery and development. About insitro insitro is a data-driven drug discovery and development company using machine learning and high-throughput biology to transform the way that drugs are discovered and delivered to patients. The company is applying state-of-the-art technologies from bioengineering to create massive data sets that enable the power of modern machine learning methods to be brought to bear on key bottlenecks in pharmaceutical R&D. The resulting predictive models are used to accelerate target selection, to design and develop effective therapeutics, and to inform clinical strategy. The company is located in South San Francisco, CA. For more information on insitro, please visit the company’s website at www.insitro.com.
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