Insitro, a machine learning-driven drug discovery and development company, has raised $400 million in a Series C financing.

The financing was led by Canada Pension Plan Investment Board (CPP Investments), with significant participation from current investors Andreessen Horowitz, funds and accounts advised by T. Rowe Price Associates, Inc., Casdin Capital, and funds and accounts managed by BlackRock as well as ARCH Venture Partners, Foresite Capital, GV, Third Rock Ventures, Two Sigma Ventures, HOF Capital and Alexandria Venture Investments.

Also joining in the round are Temasek, Softbank Investment Advisors, an undisclosed leading global investment group, and an undisclosed market-leading payer provider health system in the United States.

Insitro is a data-driven drug discovery and development company using machine learning and data generation at scale to transform the way that drugs are discovered and delivered to patients. insitro's approach focuses on the development of predictive machine learning models to be brought to bear on key bottlenecks in pharmaceutical R&D. The company has established enabling collaborations with Gilead in NASH and Bristol Myers Squibb in ALS.