Boston – October 19, 2016: Silicon Therapeutics (STx), a computational drug discovery company creating novel small molecule drugs for difficult to target proteins, today announced the finalization of its series A financing led by Chengwei Capital, one of China’s largest and oldest independent evergreen Venture Capital firms. Silicon Therapeutics will use its proprietary In Silico drug discovery engine known as INSITE to progress its own pipeline. INSITE was developed at BIDMC by Drs. Elliot Chaikof, Lijun Sun and Finith Jernigan, III. INSITE is the outcome of a number of years of research aimed at difficult drug targets,” said Dr. Sun. “By applying INSITE, we have already had successes in targeting protein-protein interactions, nuclear receptors, and metalloproteins.”
Dr. Sun, a cofounder of Silicon Therapeutics, will continue to serve as Scientific Advisory Board Chairman. Dr. Jernigan, also a cofounder, will join Silicon Therapeutics full time as CTO. Mr. Lanny Sun, Venture Partner with Chengwei, will become the company’s CEO.
The funding will be used by Silicon Therapeutics to further develop its internal pipeline and INSITE – the In Silico Drug Design engine. INSITE discovery engine is a computational tool which recapitulates the system dynamics of protein ligand binding and will have exciting implications for targeting previously difficult to work with targets. Specifically, it’s better able to identify binding pockets and energy minimas for the purposes of creating drugs for proteins that experience significant conformational changes such as protein to protein interactions. STX plans to deploy this drug engine against highly implicated and validated targets in immuno-oncology as a start to building an integrated computational drug discovery company
About The Co-founders
Silicon Therapeutics’ founders and advisors are first and foremost drug discovers. They include:
- Dr. Elliot Chaikof, Surgeon-in-Chief and Chair of Surgery at BIDMC
- Dr. Lijun Sun, Director for Center for Drug Discovery at BIDMC
- Dr. Finith Jernigan, III, Postdoctoral Research Fellow at BIDMC
About Silicon Therapeutics
Silicon Therapeutics, a computational drug discovery company, is focused on targeting the high hanging fruit within drug discovery that are currently considered out of reach. We are building the most accurate in silico models of human proteins for the purposes of drug discovery to unlock targets previously considered difficult or inaccessible. Sitting at the intersection of computing and chemistry, our drug discovery process and algorithms better simulate the system dynamics of targets, enabling us to design lead compounds for targets that were previously considered “undruggable”. We are also constantly striving to improve by harnessing new advances in technology and developing new models. Our science, our team and our mission is to apply our technology to provide more therapeutic treatments for patients.
About Chengwei Capital
Chengwei is China’s oldest independent VC firm and one of China’s last remaining evergreen funds. Our capital base is permanent and from some of the top institutional investors in the US and globally. Chengwei is committed to investing in innovative businesses and long-term repeatable franchises. It was established in 1999 and is based out of Shanghai with offices in HK and San Francisco.