TIDMFIPP
Frontier IP Group plc
19 May 2021
Reach - a non-regulatory announcement
AIM: FIPP
19 May 2021
Frontier IP Group plc
("Frontier IP" or the "Group")
Portfolio news - Exscientia announces multi-target, AI-driven
drug discovery collaboration with Bristol Myers Squibb
Frontier IP, a specialist in commercialising intellectual
property, notes the following statement from portfolio company
Exscientia Limited ("Exscientia" or the "Company") announcing that
it has entered into a collaboration agreement with Bristol Myers
Squibb.
Exscientia statement begins:
Exscientia announces multi-target, AI-driven drug discovery
collaboration with Bristol Myers Squibb
Upfront and potential milestones of over $1.2bn in addition to
tiered royalties
Exscientia, the clinical stage, Artificial Intelligence
(AI)-driven pharmatech company, announced today that it has entered
into a collaboration agreement with Bristol-Myers Squibb Company
(NYSE: BMY). This expanded collaboration has the potential to add
to the Bristol Myers Squibb drug pipeline whilst enhancing
Exscientia's portfolio of shared assets. The collaboration will use
AI to accelerate the discovery of small molecule therapeutic drug
candidates in multiple therapeutic areas, including oncology &
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. Exscientia will also receive tiered royalties on net sales
of any marketed drug products resulting from the collaboration.
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. Exscientia will take responsibility for AI-design and
experimental work necessary to discover drug candidates associated
with this collaboration for Bristol Myers Squibb. Molecules will be
designed using Exscientia's AI-driven drug discovery platform,
which delivers optimized compounds fulfilling complex design goals
faster and more effectively than traditional drug discovery.
Andrew Hopkins, CEO of Exscientia, commented, "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."
Rupert Vessey, President of Research & 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"
Exscientia has already built a strong track record for its drug
discovery platform, being the first company to advance AI-designed
small molecule drug candidates into clinical studies. 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, demonstrating Exscientia's reputation as
the collaborator of choice for high-value AI-driven drug discovery.
The company currently has more than a dozen partnered or wholly
owned drugs in development. Exscientia recently secured a $525
million Series D investment, led by Softbank, to further fund
expansion of its technology capabilities and proprietary drug
pipeline.
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
Exscientia Limited
Mark Swindells, Chief Commercial Officer contact@exscientia.ai
Edelman Public Relations T: + 44(0) 7583 003
Stephanie Crisp 417
Stephanie.crisp@edelman.com
Anitra Sprauten
T: + 44(0) 7896 859386
Anitra.sprauten@edelman.com
ABoUT EXscientia
Exscientia's AI centric, end-to-end drug discovery platform is
set to revolutionise the process invention of new drugs, designing
therapeutics for areas of high unmet medical need that could
positively impact patients, with timelines that are many years
shorter than industry standards. As a clinical stage company,
Exscientia is the first to advance AI-designed small molecules into
a clinical setting, demonstrating the potential of AI to transform
the pharmaceutical industry.
Drug design is precision engineering at the molecular scale. To
transform the industry, Exscientia has built dedicated AI systems
that efficiently learn from the widest range of data and
consistently re-apply enhanced knowledge through iterations of
design. Because Exscientia's AI systems learn more rapidly and
effectively than human-led efforts, candidate molecules satisfying
complex therapeutic requirements are discovered with revolutionary
efficiency.
For more information visit us on www.exscientia.ai or follow us
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.
About Reach announcements
This is a Reach announcement. Reach is an investor communication
service aimed at assisting listed and unlisted (including AIM
quoted) companies to distribute media only / non-regulatory news
releases into the public domain.
Information required to be notified under the AIM Rules for
Companies, Market Abuse Regulation or other regulation would be
disseminated as an RNS regulatory announcement and not on
Reach.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAKZGMKGLGGMZM
(END) Dow Jones Newswires
May 19, 2021 06:53 ET (10:53 GMT)
Frontier Ip (LSE:FIPP)
Historical Stock Chart
From Apr 2024 to May 2024
Frontier Ip (LSE:FIPP)
Historical Stock Chart
From May 2023 to May 2024