TAIPEI, TAIWAN - Media OutReach - November 5, 2018 - Insilico Medicine, a Rockville-based company developing an end-to-end drug discovery pipeline utilizing next-generation artificial intelligence (AI), was invited to speak at the 6th Healthcare and Life Sciences Leadership Summit, held on November first and second in Shanghai, China.
The Summit is hosted by China Renaissance Group, a leading investment bank with investments in high-growth sectors including technology and healthcare, and is one of China's most prestigious annual events. Over the course of this year's two-day program, which included three keynote speeches, 16 panel sessions and 16 roadshow presentations, hundreds of leaders from the global biomedicine and healthcare sectors shared their latest insights and analysis on current trends and the state of the industry.
Artur Kadurin, Chief AI Officer of Insilico Medicine and CEO of Insilico Taiwan, was invited to present on the opening day of the Summit, at the session titled, "The role of AI in driving innovation and transformation of the healthcare sector." The session was moderated by Zhi Xiao, Director of China's State Development & Investment Corporation (SDIC), and featured panelists Xing He, Partner of Highlight Capital; Shigong Kong, Vice President of Beijing Allcure Medical; Lipeng Lai, co-founder of Big Data R&D at XtalPl; and Shaodian Zhang, founder and CEO of Synyi AI. The group of distinguished panelists discussed the key role that AI is playing as the new driver transforming the future of healthcare from the perspective of industry, academia.
Moderator Zhi Xiao noted that China's capital markets were very hot in the first half of the year, but experienced a dramatic slowdown in the second half. Nevertheless, the "AI" topic, hot since 2017, remains so and is "the" keyword for VC and PE investment, especially in the fields of biomedicine and healthcare. Recent data revealed that at least 31 AI companies have successfully completed 34 rounds of fundraising, totaling over US $400 million raised.
AI has been through three major ups and downs since the 1960s. Most recently, technology breakthroughs in pattern recognition have shown the greatest promise in future applications in therapeutics and diagnosis. Artur Kadurin, Chief AI Officer of Insilico Medicine and CEO of Insilico Taiwan said: "AI has had great success in computer vision and now outperforms humans. For example, we can currently apply AI to image pattern recognition for cancer screening." Many new AI applications in biomedicine and healthcare have also been developed rapidly, such as drug discovery, robotics care, electronic health records, precision diagnosis and therapy, and telemedicine.
In support of Mr. Kadurin's viewpoint, Beijing Allcure Medical recently received an investment of over RMB 700 million from a state-owned fund. This is the first time that China's state funds have been invested in a corporate platform focused on leveraging AI in radiation therapy for cancer. Additionally, Highlight Capital also invested in a number of startups using AI in molecular diagnosis and gene sequencing. In short, investment trends suggest that patient-doctor interactions and hospital operations are being completely revolutionized as AI successfully masters precision diagnosis.
As human life expectancy continues to increase, aging well has become one of the newest and hottest topics in healthcare today. Insilico Medicine has invested a great deal of effort in anti-aging studies using AI. Mr. Kadurin emphasized, "Since the rise of deep learning, AI systems have shown great potential and have outperformed humans in many health-related fields. I think it's time to use AI for creating super-man health."
About Insilico Medicine, Inc.
Insilico Medicine is an artificial intelligence company with R&D offices and resources in the US, Belgium, Russia, the UK, Taiwan and Korea, sourced through hackathons and competitions. The company and its scientists are dedicated to extending human productive longevity and transforming every step of the drug discovery and drug development process through excellence in biomarker discovery, drug development, digital medicine and aging research.
Insilico pioneered the applications of the generative adversarial networks (GANs) and reinforcement learning for generation of novel molecular structures for diseases with a known ligand and with no known targets. In addition to working collaborations with large pharmaceutical companies, the company is pursuing internal drug discovery programs in cancer, dermatological diseases, fibrosis, Parkinson's Disease, Alzheimer's Disease, ALS, diabetes, sarcopenia, and aging. Through a partnership with LifeExtension.com the company launched a range of nutraceutical products, compounded using advanced bioinformatics and deep learning techniques. It also provides a range of consumer-facing applications, including Young.AI.
In 2017, NVIDIA selected Insilico Medicine as one of the Top 5 AI companies for potential in social impact. In 2018, the company was named one of the global top 100 AI companies by CB Insights. In 2018 it received the Frost & Sullivan 2018 North American Artificial Intelligence for Aging Research and Drug Development Award accompanied by industry brief.
Brief company video: https://www.youtube.com/watch?v=l62jlwgL3v8
Roger Lai, Consultant