Business
Exscientia announces investment from Evotec
Exscientia announces investment from Evotec.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 0156S Frontier IP Group plc 28 September 2017 \n\n \nRNS\nAIM: FIPP\n28 September 2017\n \nFrontier IP Group Plc\n(\"Frontier IP\" or the \"Group\")\n \nPortfolio News\n \nExscientia Announces €15 million Minority Evotec AG Investment in Exscientia to Advance AI-driven Drug Discovery\nFrontier IP, which specialises in the commercialisation of intellectual property, is pleased to announce that its portfolio company Exscientia Limited (\"Exscientia\") has today announced that Evotec AG (\"Evotec\") has made a € 15 M investment to take a minority stake in Exscientia. The resulting revaluation of the Group's holding in Exscientia will be reflected in the Group's audited final results to 30 June 2017, due to be released in October.\nThe full text of this announcement is set out below.\n \n} Evotec to invest € 15 m in Exscientia, A pioneer of ARtificial Intelligence (\"AI\") in drug discovery \n} new funds will enable exscientia to accelerate growth\n} Expansion of existing Partnership to discover Novel immuno-oncology therapeutics\n} fIRST EVOTEC Project supported by Recent € 75 m loan facility from the European Investment Bank\n \nHamburg, Germany, Dundee, UK: 28 September 2017\nEvotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) and Exscientia Ltd (\"Exscientia\") today announced that Evotec has made a € 15 m investment to take a minority stake in Exscientia. Through this investment, Evotec becomes the first strategic shareholder in the UK-based company. Exscientia is focused on Artificial Intelligence (\"AI\")-driven drug discovery and design. With more than 1,800 scientists, Evotec has one of the largest and leading drug discovery platforms in the industry.\nExscientia and Evotec have cooperated since early 2016 to advance small molecules and bispecific small molecules in immuno-oncology. The ongoing success of this partnership was the basis of this expanded and deepened corporate relationship. Exscientia is the world leader in developing and applying AI approaches specifically to design new and better therapeutic molecules in a faster and more cost-effective manner. Exscientia's approach fuses the power of AI with the discovery experience of seasoned drug hunters and chemistry experts. This investment will enable...