Exscientia, which provides an AI-driven platform for drug design, discovery, and development, filed on Friday with the SEC to raise up to $100 million.
Exscientia states that it is an artificial intelligence-driven pharmatech company that aims to discover, design, and develop the best possible drugs in the fastest and most effective manner. The company has built a complete end-to-end solution of AI and experimental technologies for target identification, drug candidate design, translational models, and patient selection. The company states that it has originated the first three AI-designed precision drug candidates to enter human clinical trials. Its most advanced internally developed candidate, EXS21546, began a Phase 1 trial in December 2020. The other two candidates, which are being developed by its collaboration partner Sumitomo Dainippon Pharma, are also currently in Phase 1 trials. Exscientia has designed four additional candidates currently undergoing advanced profiling for submission of INDs; the company has more than 25 active projects in total.
The Oxford, United Kingdom-based company was founded in 2012 and booked $14 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol EXAI. Exscientia filed confidentially on June 21, 2021. Goldman Sachs, Morgan Stanley, BofA Securities, and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.
