Frontier IP's Exscientia hails £203 million deal with Bayer
Francesca Morgan
Company News - 2 mins
12:27, 10th January 2020

London-listed Frontier IP Group (AIM:FIPP) FOLLOW told investors on Friday that its portfolio company, Exscientia, had entered into a collaboration deal worth up to £203 million with global pharmaceutical giant Bayer to leverage AI in drug discovery.

Specifically, the collaboration will aim to accelerate the discovery of small molecule drugs focused on cardiovascular disease and oncology, the statement detailed.

Under the terms of the deal, Exscientia, of which Frontier owns a 3.25% stake in, will initially work on three projects applying its Centaur Chemist™platform which uses AI to identify new drugs.

The group is eligible to receive up to €240 Million including upfront, research and clinical milestone payments as well as possible sales royalties.

Shares in Frontier IP Group were trading 4.51% higher at 69.5p on Friday midday.

“Since our pioneering Nature papers demonstrating the automated design of small-molecules, we have enhanced our platform and exemplified it commercially,” said Professor Andrew Hopkins, CEO of Exscientia.

Dr. Joerg Moeller of Bayer AG’s pharmaceutical division and Head of R&D emphasised the value in progressing technologies which can “simplify and speed up the discovery and development of new drugs for patients.”

“The collaboration with Exscientia is expected to help us to achieve project milestones earlier and at the same time accelerate timelines by enabling more precise identification of suitable drug targets and lead structures,” he added.

Follow News & Updates from Frontier IP Group here: FOLLOW

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Login or register to post comments

Recent Articles