Insilico finds a new partner for AI drug discovery; EU launches Illumina probe after Grail merger close

Hot off a $255 million megaround, Chinese AI startup Insilico Medicine has found its latest partner.

Insilico is joining hands with Shanghai-based BioNova Pharmaceuticals to jointly develop small molecule inhibitors for hematologic malignancies. Though they’re not releasing the financial terms of the deal, the partners said they’re kicking things off with a discovery-stage project from BioNova.

While there’s been a recent explosion of activity in the AI space, Insilico CEO Alex Zhavoronkov predicts that some of those efforts will ultimately fail, akin to the dot-com bubble in the early 2000s. Once that happens, he told Endpoints News, Insilico will seek to emerge as the field’s Amazon or Google. The chief executive pulled in a $255 million Series C round back in June.

But he’s not alone in those goals: Miles away, in Shenzhen, China, XtalPi recently raked in a $400 million Series D round…
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