NEW YORK and HONG KONG, Sept. 23, 2021 /PRNewswire/ -- Insilico Medicine, an end-to-end artificial intelligence (AI)-powered drug discovery company, today announced the appointment of Nirav Jhaveri as Chief Financial Officer (CFO) to oversee capital markets, investor relations, financial operations, and corporate development.
"It is an honor to join a pioneering company at the forefront of innovation in drug discovery. Insilico is leveraging its AI platform to accelerate the research and development process across multiple therapeutic areas, including oncology, immunology, inflammation and infectious diseases," said Mr. Jhaveri. "Building on the momentum of the Company's recent Series C financing with $255 million raised from leading, global institutional investors, I look forward to supporting Insilico's goal of developing novel therapies to treat serious and life-threatening disorders."
In August, Insilico nominated a second preclinical candidate for kidney fibrosis following the nomination of its idiopathic pulmonary fibrosis candidate in February 2021. In September, the Company hired Dr. Robert Spiegel, the former Chief Medical Officer (CMO) of Schering Plough, as CMO to oversee clinical translation of these and other exciting preclinical pipeline assets.
Mr. Jhaveri brings two decades of capital markets, business development and biopharma experience. Before joining Insilico, he served as Chief Financial Officer of Journey Medical Corporation, a commercial-stage biopharmaceutical company, where he was responsible for business development, corporate strategy and capital raising. Prior to Journey Medical, Mr. Jhaveri was Vice President, Business Development, at Fortress Biotech. Earlier in his career, he held roles in equity research at Citigroup and investment banking at Bank of America. He earned his B.A. in Chemistry and Economics from the University of Pennsylvania and his MBA from New York University's Stern School of Business. Mr. Jhaveri is a CFA charterholder.
"Nirav brings substantial capital markets and business development experience that will complement the firm's strategic objectives. Our goal is to exploit our technology to develop novel, clinical-stage assets in- house as well as in collaboration with biopharmaceutical partners, which will further validate Insilico's leading AI capabilities in drug discovery," said Alex Zhavoronkov, PhD, founder and CEO of Insilico Medicine.
About Insilico Medicine
Insilico Medicine, an end-to-end artificial intelligence-driven drug discovery company, is developing artificial intelligence platforms. These platforms use deep generative models, reinforcement learning, transformers, and other modern machine learning techniques for novel target discovery and the generation of novel molecular structures with desired properties. Insilico Medicine is developing breakthrough solutions to discover and develop innovative drugs for cancer, fibrosis, infectious diseases, autoimmune diseases, and ageing-related diseases. Website http://insilico.com/
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SOURCE Insilico Medicine