Benzinga | Sep 13, 2021 12:54PM EDT

Exscientia Files For $100M IPO

* Exscientia, the U.K.-based artificial intelligence-driven pharmatech firm, submitted its F-1 on Friday, penciling an initial $100 million estimated proceeds.

* The company plans to list on NASDAQ under the symbol EXAI.

* Exscientia offers an AI-centric drug discovery platform for the invention of new drugs, designing therapeutics. It has built a complete end-to-end solution of AI and experimental technologies for target identification, drug candidate design, translational models, and patient selection.

* Exscientia states that it has originated the first three AI-designed precision drug candidates to enter human clinical trials. Its most advanced internally developed candidate, EXS21546, began a Phase 1 trial in December 2020.

* The other two candidates, developed by its collaboration partner Sumitomo Dainippon Pharma, are also currently in Phase 1 trials.

* Exscientia has designed four additional candidates currently undergoing advanced profiling for submission of INDs, with more than 25 active projects in total.

* Related: Exscientia expanded a Celgene-era deal with Bristol Myers Squibb.