Exscientia, the clinical stage, AI-driven pharmatech company, announced today that it has entered into a collaboration agreement with Bristol-Myers Squibb (BMS).
This expanded collaboration has the potential to add to the BMS 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 BMS.
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 optimised compounds fulfilling complex design goals faster and more effectively than traditional drug discovery.
Rupert Vessey, President of Research & Early Development at BMS, 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.”