Exscientia and BMS announce $1.2 billion collaboration
pharmafile | May 19, 2021 | News story | Research and Development | AI
Artificial intelligence (AI) pharmatech company, Exscientia, has announced a collaboration with Bristol Myers Squibb to accelerate the discovery of small molecule therapeutic drug candidates in multiple therapeutic areas, including oncology and immunology.
The agreement 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.
Under the agreement, Exscientia will take responsibility for AI-design and experimental work necessary to discover drug candidates for Bristol Myers Squibb, with molecules being designed using Exscientia’s AI-driven drug discovery platform.
This expanded collaboration 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.
Rupert Vessey, President of Research and Early Development at Bristol Myers Squibb, said: “We have been pleased with Exscientia’s work in tackling a number of distinct projects for Bristol Myers Squibb.
“Exscientia’s application of AI technologies is proving capable of generating best-in-class molecules while also reducing discovery times. Rapid discovery of molecules that can enter the clinic in a timely manner could positively impact our work in discovering treatments for areas of unmet medical need.”
In addition to Bristol Myers Squibb, Exscientia has previously entered collaborations with major pharmaceutical companies including Bayer, Sanofi, and Dainippon Sumitomo, multiple emerging biotech companies, and the Gates Foundation.
Andrew Hopkins, CEO of Exscientia, said: “We are proud that Bristol Myers Squibb wants to build on our work together with this expanded collaboration and believe it speaks to the strength and promise of Exscientia’s AI technologies and drug discovery expertise.
“We’re excited to work with such an experienced collaborator as Bristol Myers Squibb to develop the best possible medicines for patients.”
Kat Jenkins
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