Evotec invests €15m to further AI-driven drug discovery
According to the company, the €15m ($17.63) investment will enable Exscientia to “drive higher value partner programs” and expand discovery on its automated design platform.
As part of the transaction, Evotec’s Chief Operating Officer, Dr. Mario Polywka, will join Exscientia's Board of Directors.
The investment is the company’s largest single biggest equity placement to date, Dr. Werner Lanthaler, Evotec CEO explained in a press release.
The companies have worked together since 2016.
“Working with Exscientia on a joint immuno-oncology project over the past year, we have experienced first-hand how its AI approaches, along with our medicinal chemistry platform, can positively and radically impact drug discovery,” explained Lanthaler.
Exscientia, CEO, Prof. Andrew Hopkins added that the investment will allow Exscientia “to deliver more drug discovery projects in a rapid and capital efficient manner.”
