Exscientia Shares Surge On AI Collaboration: The Details
Portfolio Pulse from Adam Eckert
Exscientia Plc (NASDAQ:EXAI) announced a multi-year collaboration with Merck KGaA for AI drug discovery, focusing on oncology, neuroinflammation, and immunology drug candidates. Exscientia will receive an upfront payment of $20 million and could receive up to $674 million in milestone payments. The news led to a 31.2% surge in Exscientia's share price.
September 20, 2023 | 12:46 pm
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Exscientia's collaboration with Merck KGaA for AI drug discovery could potentially bring significant revenues, reflected in the 31.2% surge in its share price.
The collaboration with Merck KGaA opens up new revenue streams for Exscientia, with an upfront payment of $20 million and potential milestone payments of up to $674 million. This positive news has already reflected in the company's share price, which surged by 31.2%.
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