pharmaphorum October 6, 2021
Exscientia’s artificial intelligence-based drug discovery engine is still largely unproven, but that hasn’t stopped the company raking in funding from investors keen to back its platform.
The final numbers are now in from its recently announced initial public offering on the US Nasdaq, and the numbers are impressive, swelling from an initially forecast $304 million to just over $350 million.
Added to that, Exscientia has just completed a $160 million private placement that ran concurrently with the IPO, backed by SoftBank and the Bill and Melinda Gates Foundation, that swelled its cash reserves by more than half a billion dollars.
The new cash injection adds to $525 million from a fourth-round raise in April, and $100 million in a third-round...
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