AI Drug Hunter Firm Exscientia Fires Its CEO Over 'Inappropriate' Relationships with Two Employees

Tuesday, Exscientia Plc EXAI fired CEO Andrew Hopkins, effective immediately after the board determined he had engaged in two personal relationships with employees deemed “inappropriate and inconsistent” with company values.

Exscientia is an AI-driven precision medicine company focused on discovering, designing, and developing possible drugs fastest and most effectively. 

Exscientia developed a functional precision oncology platform to guide treatment selection, improve patient outcomes in a prospective interventional clinical study, and progress AI-designed small molecules into the clinical setting.

A search is underway for his replacement, according to a regulatory filing with the SEC.

In connection with Dr. Hopkins’ termination, Dave Hallett, the company’s Chief Science Officer, has been appointed interim CEO and principal executive officer, effective immediately and until a new Chief Executive Officer commences employment or such other date determined by the board or upon his earlier resignation.

A special board committee engaged outside counsel to investigate Dr. Hopkins’ conduct. 

During the investigation, the board learned that David Nicholson, Chairman of the Board, had prior knowledge of the existence of the earlier Dr. Hopkins’ relationships and had addressed the situation directly and with the involvement of other outside counsel rather than in consultation with the board. 

Following discussions with the board, on February 12, 2024, Dr. Nicholson tendered his resignation from his positions with the company as a Non-Executive Director of the Board and the Chairman of the Board. 

The Nominating and Corporate Governance Committee of the Board is instituting a search for Dr. Nicholson’s replacement, with Elizabeth Crain serving in his place on an interim basis.

Price Action: EXAI shares are down 19.80% at $6.02 on the last check Tuesday.