From Code to Cure — AI Integrated Drug R&D Engine; Initiate at Buy

研报英文原文证据摘录

From Code to Cure — AI Integrated Drug R&D Engine; Initiate at Buy

Insilico Medicine (3696 HK)

Equity Research

July 8, 2026

Investment Thesis

1. Integrated Pharma.AI Platform with Clear First-Mover Advantages

Insilico has built one of the earliest and most integrated end-to-end AI drug discovery platforms,

spanning target identification through PCC nomination, with the potential to further expand into

and support clinical development activities. This first-mover advantage has enabled the company

to accumulate a compounding advantage across proprietary data, AI models, and workflow

execution. Meanwhile, Rentosertib (in China Ph3 study), as the most advanced AI-enabled drug

candidate globally, provides an important proof point for the platform’s ability to translate AI-

enabled discovery efforts into drug candidates with preliminary clinical validation.

1.1 Integrated AI platform covering the full drug discovery cycle across preclinical and clinical

stages

Insilico has built a platform-level solution spanning the full drug discovery lifecycle (0-to-PCC), with

the capability to extend into clinical development, forming an integrated discovery engine. The

platform is structured across core modules:

Preclinical:

Biology42/PandaOmics for target discovery, disease biology mapping, and biomarker•

analysis;

Chemistry42 for small-molecule generation, property prediction, ADMET optimization,•

retrosynthesis, and molecular refinement;

Clinical:

Medicine42/inClinico for clinical trial outcome prediction and development strategy support;•

Science42/DORA for AI-assisted scientific research, literature analysis, and document•

generation.

The integrated Pharma.AI platform enables AI models to support each stage of the R&D process,

across both preclinical and clinical development.