AI giant Exscientia files IPO, raises over US$460 million for drug research and development

UNITED KINGDOM – Exscientia’s initial public offering and private placement has raised US$464 million to fund its artificial intelligence-based approach to drug discovery and development. The new cash infusion follows a US$525 million fourth-round raise in April and a US$100 million third-round raise just a month earlier. Exscientia intends to develop its own drugs alongside a growing number of drug candidates licensed to other drugmakers, including Bristol-Myers Squibb (which recently signed a US$1.2 billion alliance with the Oxford, UK-based company), Sanofi, Bayer, Dainippon Sumitomo Pharma (DSP), and Evotec. The company’s…

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