NEW YORK (GenomeWeb) – Deep Knowledge Ventures and Insilico Medicine today announced they have completed a milestone-based convertible bridge note agreement. 

The agreement is for an $800,000 convertible loan from Hong Kong-based Deep Knowledge, leading to a next funding round of at least $4 million, conditional on Insilico achieving certain R&D and corporate development milestones. They include the validation of Insilico's drug repurposing capabilities and the establishment by Baltimore-based Insilico of an office in Basel, Switzerland, the partners said. 

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