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Aramco’s Prosperity7 powers AI drug firm Insilico’s $95M round

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Hong Kong-based drug discovery and development company Insilico has secured fresh capital at a time that its CEO described as a “biotech winter.”
The firm has raised $35 million on the heels of its last tranche in June, bringing its total Series D investment to $95 million. The new round was “oversubscribed”, the firm’s founder and CEO Alex Zhavoronkov told TechCrunch, declining to disclose the company’s valuation.
Prosperity7, the venture capital arm of Saudi Arabia’s state oil company Aramco, led the new capital infusion. The fund has been actively scouring for opportunities in and around China that can scale globally and particularly in the Middle East.
Insilico, which operates R&D teams across Hong Kong, Shanghai, and New York, seems to be a good fit for Prosperity7.
“Prosperity7 inspired us to look into sustainable chemistry,” said Zhavoronkov. Insilico uses machine learning to identify potential drug target …

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