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Insilico Medicine, a 10-year-old AI drug discovery company, has decided to relocate its headquarters from New York to Massachusetts. The company has secured space at 1000 Massachusetts Ave. in Cambridge, while still maintaining a presence at Cure, a healthcare innovation campus in New York City. Insilico also operates in Greater China, Canada, and the Middle East. The founder and CEO, Alex Zhavoronkov, emphasized the importance of being in Boston for serious biotech endeavors, citing the city as a global epicenter for biomedical innovation.
Founded in 2014 at Johns Hopkins University, Insilico Medicine recently raised a significant Series C funding of $225 million, prompting its move to NYC. Now, the company is making the strategic shift to Cambridge to be at the forefront of biomedical innovation. With a focus on business and corporate development, Insilico aims to position itself as a key player in the industry. The company's revenue growth, exceeding $51 million last year, is driven by sales of AI-generated drugs, showcasing its commitment to transparency and industry transformation.
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