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Frontier IP Group Plc

Frontier IP Exscientia acquires Kinetic Discovery

Frontier IP Chief Executive Officer Neil Crabb said: “We are delighted with this news from Exscientia. The acquisition adds to the exciting potential of what the Company can achieve in the field of AI-driven drug discovery.”

Frontier IP (LON:FIPP), a specialist in commercialising university intellectual property, noted today’s announcement from Exscientia Limited  that it has acquired fellow portfolio company Kinetic Discovery Limited. The full Exscientia statement is included below.

As at 30 June 2018, the Group held a 4.1 per cent equity stake in Exscientia, a leader in using artificial intelligence (“AI”) in drug discovery, and 5 per cent of biophysics specialist Kinetic. Frontier is receiving Exscientia shares for its Kinetic holding. The terms of the deal were not disclosed. It does not affect the current book value of Frontier IP’s portfolio.

The acquisition allows Exscientia to create an AI-driven drug discovery company to go rapidly from gene to clinical candidate for any druggable target of choice. It is part of Exscientia’s growth strategy to develop a proprietary drug pipeline and to enhance its support of existing and future partnerships. The Company is collaborating with several leading pharmaceutical and life sciences companies, including GSK, Sanofi and Evotec, which invested €15 million in Exscientia in 2017.

 

As of 30th June 2016, Frontier IP Group Plc (LON:FIPP) have a 5% holding in Exscientia.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.