A pharmatech company which develops autonomous drug design has won funding to expand its drug discovery platform.
Exscientia is the first company to progress AI-designed small molecules into a clinical setting
It has announced a total of $100m from funds managed by BlackRock.
This new capital will be used to support Exscientia’s platform towards drug design, and helps extend into clinical trials. It wants to develop biological analytics to support its portfolio.
“Exscientia is breaking ground in small molecule drug design, with a platform that radically improves drug discovery” said William Abecassis, head of BlackRock’s Innovation Capital
“We are thrilled to be investing in this world-class team, who are already delivering results with AI-designed drugs now entering clinical trials.”
Andrew Hopkins of Exscientia added, “We are delighted that BlackRock shares our vision for revolutionising how drugs are discovered.
“It is also recognition of the ingenuity and hard work of our employees to turn the promise of AI into reality today, where we are bringing the world’s first AI designed drugs into the clinic.
“BlackRock’s investment is an important step in our vision that all drugs will be designed by AI. I believe that our company’s reimagined approach to drug discovery will become the new de facto standard”
Exscientia has doubled in size over the past year and expects to double again in 2021.
It employs over 100 people from over 20 different nations, with equal balance of technologists and drug discovery scientists, of which 60 per cent are PhDs.