BlackRock has joined the University of Dundee spinout’s series C round, following a $60m first close in May last year.
Exscientia, a UK-based drug discovery technology spinout of University of Dundee, increased its series C round to $100m yesterday following a $40m extension supplied by funds managed by BlackRock.
Pharmaceutical firm Novo led a $60m initial tranche in May 2020, which also featured its peer Bristol Myers Squibb as well as drug discovery and development company Evotec and private equity firm GT Healthcare Capital, through unnamed limited partners.
Exscientia exploits artificial intelligence technology to precisely engineer drug candidates rather than employing machine learning only to screen for targets. It will use the series C extension to further develop its platform and move more assets into the clinic.
William Abecassis, head of BlackRock’s Innovation Capital, will join Exscientia’s board of directors as an observer. He said: “Exscientia is breaking ground in small molecule drug design, with a platform that radically improves drug discovery.
“We are thrilled…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
