TIDMFIPP
RNS Number : 7917W
Frontier IP Group plc
28 April 2021
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RNS
AIM: FIPP
28 April 2021
Frontier IP Group plc
("Frontier IP" or the "Group")
Portfolio news - Exscientia announces investment of up to $525
million led by SoftBank Vision Fund 2
Frontier IP, a specialist in commercialising intellectual
property, notes the following statement from portfolio company
Exscientia Limited ("Exscientia" or the "Company") announcing an
investment of up to $525 million.
The Company has closed a Series D funding round of $225 million
and can access a further $300 million from SoftBank at its
discretion.
Exscientia statement begins:
Exscientia announces investment of up to $525M
Exscientia announces investment of up to $525M
Proceeds to continue expansion of proprietary pipeline and
end-to-end AI drug discovery capabilities
$225 million Series D round closed with access up to an
additional $300 million at Exscientia's discretion
Financing led by SoftBank Vision Fund 2
Exscientia, a clinical stage pharmatech company using artificial
intelligence (AI) to design patient-based drugs, announced that it
has completed a $225 million Series D funding round. SoftBank
Vision Fund 2(i) led the Series D and was joined by previous round
lead investors, Novo Holdings and funds managed by Blackrock. Other
investors included Mubadala Investment Company, Farallon Capital,
Casdin Capital, GT Healthcare Capital, Marshall Wace, Pivotal
bioVenture Partners, Laurion Capital, Hongkou and Bristol-Myers
Squibb. In addition, SoftBank is providing an additional $300
million equity commitment that can be drawn at the Company's
discretion.
Exscientia uses AI across its platform from target
identification through drug design and patient selection in order
to precision engineer new medicines. The Company has advanced the
first two fully AI-designed drugs into clinical trials and now has
over 20 active programs in its pipeline. Funding from the Series D
round will be used to advance Exscientia's proprietary pipeline
through clinical testing as well as to continue expanding the
technology platform toward autonomous drug design.
Commenting on the investment, Eric Chen, Managing Partner of
SoftBank Investment Advisers, said: "We believe Exscientia's
innovative use of AI to discover and design better quality drugs
with greater efficiency has the potential to create important
medicines faster than ever before. With the convergence of
technology and biology, drug discovery is rapidly evolving in ways
that will reshape the industry. The Exscientia team have been
leaders in AI-based drug discovery since the field's inception and
we believe they will continue shaping its future."
Exscientia has built and integrated a broad array of AI and
experimental technologies to capture and utilize the most
patient-relevant data to precision design drugs for multiparameter
optimization. The Company's platform evaluates the target and
mechanism through high content phenomics, novel biophysics and deep
learning from biological data. That information is then translated
into the design of precision drugs through proprietary AI
algorithms driven by thousands of models. By remaking the process
of drug discovery, Exscientia is also able to reset industry
standards for productivity. To date, the Company has been able to
advance seven precision designed drugs from project initiation to
development candidate in an average time of 12 months.
Andrew Hopkins, CEO of Exscientia added, "All of our investors
share Exscientia's vision to discover better drugs, faster, through
AI and automation. Our patient-first AI platform has repeatedly
demonstrated its ability to precision design drugs that address
patients' needs. With the Series D completed, the quality and depth
of our shareholder base allows us the freedom to continue to scale
both our platform and pipeline."
(i) As of the date of this press release, SoftBank Group Corp.
has made capital contributions to allow investments by SoftBank
Vision Fund 2 ("SVF 2") in certain portfolio companies. The
information included herein is made for informational purposes only
and does not constitute an offer to sell or a solicitation of an
offer to buy limited partnership interests in any fund, including
SVF 2. SVF 2 has yet to have an external close, and any potential
third-party investors shall receive additional information related
to any SVF 2 investments prior to closing.
Exscientia statement ends
ENQUIRIES
Frontier IP Group Plc T: 020 7332 2338
Neil Crabb, Chief Executive neil@frontierip.co.uk
Andrew Johnson, Communications & Investor M: 07464 546 025
Relations
Company website: www.frontierip.co.uk
Allenby Capital Limited (Nominated Adviser) T: 0203 328 5656
Nick Athanas / George Payne
N+1 Singer (Broker)
Sandy Fraser / Harry Gooden / George Tzimas T: 0207 496 3000
Exscientia Limited
Mark Swindells, Chief Commercial Officer contact@exscientia.ai
Edelman Public Relations
Stephanie Crisp T: + 44(0) 7583 003
417
Stephanie.crisp@edelman.com
Anitra Sprauten
T: + 44(0) 7896 859386
Anitra.sprauten@edelman.com
ABoUT EXscientia
Exscientia is an AI-driven pharmatech company committed to
discovering and designing the best possible medicines in the
fastest and most effective manner. Exscientia is the first company
to progress AI-designed small molecules into the clinical setting
and repeatedly demonstrate the ability of AI to transform how drugs
are created. Exscientia's AI platform has now designed two drugs
that are in Phase 1 human clinical trials.
Drug design is precision engineering at the molecular scale.
Exscientia has built dedicated AI systems that efficiently learn
from the widest range of data and consistently reapply enhanced
knowledge through iterations of design. Because Exscientia's AI
platform learns more effectively and rapidly than human-led efforts
alone, candidate molecules satisfying complex therapeutic
requirements are created with revolutionary efficiency. Exscientia
believes that designing better drugs, faster, will allow the best
ideas of science to rapidly become the best medicines for
patients.
Exscientia has offices in Oxford, Miami, Osaka and Dundee. For
more information visit www.exscientia.ai or follow Exscientia on
Twitter @exscientiaAI.
ABOUT FRONTIER IP
Frontier IP unites science and commerce by identifying strong
intellectual property and accelerating its development through a
range of commercialisation services. A critical part of the Group's
work is involving relevant industry partners at an early stage of
development to ensure technology meets real world demands and
needs.
The Group looks to build and grow a portfolio of equity stakes
and licence income by taking an active involvement in spin-out
companies, including support for fund raising and collaboration
with relevant industry partners at an early stage of
development.
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