Frontier IP Group - Portfolio news – Exscientia raises $60 million
Portfolio news - Exscientia raises
The new capital will be used to expand Exscientia's existing portfolio and pipeline and to accelerate international expansion, including in the
The financing round has been led by new investor
As a result of the financing round,
Exscientia statement in full:
Exscientia, the world leading artificial intelligence (AI) drug discovery company, today announced it has raised
The new capital will be used to boldly expand Exscientia's existing portfolio and pipeline, by launching new projects, progressing advanced projects to the clinic, and expanding AI biology as part of Exscientia's full-stack capabilities. In addition, the company plans to accelerate its international expansion, including the build-out of its presence in the
Exscientia has demonstrated high growth and significant milestones in applying AI to small molecule drug discovery. Earlier this year, it announced that the first ever precision engineered drug designed using AI had entered Phase I human clinical trials for the treatment of obsessive-compulsive disorder in partnership with Sumitomo Dainippon Pharma (DSP). This project required less than 12 months to advance the programme from target to identifying developmental candidate, just a fraction of the typical average of 4.5 years using conventional research techniques. The company has been able to consistently deliver similar reductions in developmental timelines across its portfolio of projects.
Exscientia has continued to expand its portfolio into critical disease areas following the signing of multi-project partnerships with Bristol Myers Squibb, Bayer, Rallybio and GT Apeiron. In March this year, Exscientia announced a joint initiative to identify COVID-19 antiviral treatments with
Robert Ghenchev at
"This investment highlights the increasing commitment to the potential of AI to transform drug discovery and the excitement that we have garnered around the innovative work we are doing at Exscientia", said Prof.
Exscientia statement ends
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NOTES FOR EDITORS
Exscientia is a global Artificial Intelligence (AI)-driven drug discovery company and the first to have novel chemical molecules assessed in a clinical setting. Fusing the power of the original AI-design with the experience of seasoned drug hunters, Exscientia's Centaur Chemist™ platform enables the discovery of exquisitely optimised molecules with breakthrough productivity.
In tandem, Exscientia's Centaur Biologist™ platform drives the flexible analysis and prioritisation of discovery targets across all pharmaceutically relevant disease space. For more information visit us on www.exscientia.ai or follow us on Twitter @exscientialtd.
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide and our more than 3,000 employees provide the highest quality stand-alone and integrated drug discovery and development solutions. We cover all activities from target-to-clinic to meet the industry's need for innovation and efficiency in drug discovery and development (EVT Execute).
The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuronal diseases, diabetes and complications of diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases, fibrosis, rare diseases and women's health.
On this basis, Evotec has built a broad and deep pipeline of approx. 100 co-owned product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term alliances with partners including Bayer,
The Group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.
This information is provided by RNS, the news service of the
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