Oxford-based Exscientia, the AI-driven precision medicine company, has reported encouraging financial progress in a number of areas in its latest business update.
Revenue was up from $7.7 million in September 2022 to $10.8 million this year, with a decrease in both operating loss and operating expenses too.
The firm attributed its performance to a number of factors, including its new collaboration with Merck KGaA. This partnership is focused on the discovery of novel small molecule drug candidates across oncology and immunology using Exscientia’s AI-driven precision drug design and discovery capabilities.
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Professor Andrew Hopkins, founder and Chief Executive Officer of Exscientia, said: “At Exscientia, we are laser-focused on building an engine that designs and develops high impact medicines that have the potential to transform patients’ lives.
“We are continuing to build out a highly-differentiated internal oncology pipeline, particularly with clinical and IND-enabling stage programmes targeting CDK7 and LSD1.
''In addition, our partnerships are steadily progressing, including our recently announced first milestone with Sanofi and a new collaboration with Merck KGaA, Darmstadt, Germany.
''These advancements, paired with our commitment to technological capabilities, such as automation and ex vivo patient tissue analysis, solidify Exscientia’s leadership in AI-enabled drug design and development.”
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