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Exscientia, Bristol Myers Expand AI Based Drug Discovery Collaboration With Potential Milestones Over $1.2B

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Exscientia, Bristol Myers Expand AI Based Drug Discovery Collaboration With Potential Milestones Over $1.2B
  • Privately-held Exscientia has expanded its collaboration agreement with Bristol-Myers Squibb Co (NYSE: BMY) that builds upon Exscientia's existing collaboration initiated in 2019 with Celgene, before Bristol-Myers acquisition.
  • 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 milestones, and additional payments that take the deal's potential value beyond $1.2 billion.
  • Exscientia will also receive tiered royalties on net sales of any marketed drug products resulting from the collaboration.
  • Exscientia will take responsibility for AI design and experimental work necessary to discover drug candidates.
  • Price Action: BMY shares are trading lower by 0.75% at $65.11 during the premarket session on the last check Wednesday.
 

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