Frontier IP (FIPP.L) 78.75p £33.1m
Frontier IP, a specialist in commercialising university intellectual property, noted the following announcement from portfolio company Exscientia, a world leader in AI drug discovery, that it has entered into a drug-discovery partnership with GT Apeiron Therapeutics.
GT Apeiron is a Shanghai-headquartered biotechnology drug-discovery platform launched with $27m backing from GT Healthcare Capital Partners, a life sciences-focused private equity partnership. GT Healthcare is also an investor in Exscientia.
As part of the agreement, Exscientia is entitled to become a shareholder in GT Apeiron as well as receiving milestones and royalties based on the clinical and commercial success of each programme.
GT Healthcare invested in Exscientia as part of a Series B financing round, which raised $26m to scale up the Company's pipeline and advance selected programmes towards clinical development. Further details were announced by Frontier IP on 7 Jan 2019.
Exscientia's existing partnerships include collaborations with Celgene, GSK, Roche, Sanofi and Evotec.
Frontier IP holds a 3.32% stake in the Company.