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Exscientia announces drug discovery collaboration with Bristol Myers Squibb
StockMarketWire.com
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Exscientia, the clinical stage, artificial intelligence-driven pharmatech company, has entered into a collaboration agreement with Bristol-Myers Squibb Company.
This expanded collaboration has the potential to add to the Bristol Myers Squibb drug pipeline whilst enhancing Exscientia's portfolio of shared assets.
The collaboration will use AI to accelerate the discovery of small molecule therapeutic drug candidates in multiple therapeutic areas, including oncology & immunology under an agreement that includes up to $50 million in upfront funding, up to $125 million in near to mid-term potential milestones, and additional clinical, regulatory and commercial payments that take the potential value of the deal beyond $1.2 billion.
Exscientia will also receive tiered royalties on net sales of any marketed drug products resulting from the collaboration.
It builds upon Exscientia's existing collaboration with Bristol Myers Squibb that was initiated in 2019 with Celgene prior to Celgene's acquisition by Bristol Myers Squibb. Exscientia will take responsibility for AI-design and experimental work necessary to discover drug candidates associated with this collaboration for Bristol Myers Squibb.
Molecules will be designed using Exscientia's AI-driven drug discovery platform, which delivers optimised compounds fulfilling complex design goals faster and more effectively than traditional drug discovery.
At 1:08pm: (LON:FIPP) Frontier IP Group PLC share price was 0p at 67p
Story provided by StockMarketWire.com
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