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Exscientia announces collaboration with Merck
Exscientia announces collaboration with Merck.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n\nReach - a non-regulatory announcement\nAIM: FIPP\n21 September 2023\n \nFrontier IP Group Plc\n(\"Frontier IP\" or the \"Group\")\n \n \nPortfolio news - Exscientia announces AI drug discovery collaboration with Merck KGaA, Darmstadt, Germany worth up to $674 million\n \n \nFrontier IP, a specialist in commercialising intellectual property, today notes the following announcement from portfolio company Exscientia plc (\"Exscientia\" or the \"Company\") of a new collaboration with Merck KGaA, Darmstadt, Germany, (\"Merck\") focused on the discovery of novel small molecule drug candidates across oncology, neuroinflammation and immunology.\nUnder the terms of the agreement, Exscientia will receive an upfront cash payment of $20 million from Merck and will be eligible for discovery, development, regulatory and sales-based milestone payments of up to $674 million in aggregate if all milestones for three initial programmes are achieved.\nFrontier IP holds a 0.4 per cent equity stake in Exscientia.\n \nExscientia statement begins:\n \n· Exscientia Announces AI Drug Discovery Collaboration with Merck KGaA, Darmstadt, Germany\n· Collaboration will leverage Exscientia's precision design capabilities to focus on previously unsolved drug design challenges\n· Exscientia is eligible to receive up to $674 million in discovery, development, regulatory and sales-based milestones for three projects, in addition to single to double digit royalty payments on net sales\n· Up to $113 million of potential milestone payments in the discovery phase, with $20 million upfront at initiation for three projects\nOXFORD, U.K. Exscientia plc (Nasdaq: EXAI) today announced a new collaboration with Merck KGaA, Darmstadt, Germany focused on the discovery of novel small molecule drug candidates across oncology, neuroinflammation and immunology. The multi-year collaboration will utilise Exscientia's AI-driven precision drug design and discovery capabilities while leveraging Merck KGaA, Darmstadt, Germany's disease expertise in oncology and neuroinflammation, clinical development capabilities and global footprint.\nThree potential first-in-class or best-in-class targets have been identified as the initial focus of the partnership. The collaboration allows Me...