LEVERKUSEN (dpa-AFX) - Frontier IP Group Plc announced Friday that Artificial Intelligence- driven drug discovery company Exscientia has entered into a collaboration with Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L) focused on cardiovascular disease and oncology.
Under the deal terms, Exscientia will initially work on three projects with targets agreed between both parties.
Exscientia may be eligible to receive up to 240 million euros including upfront and research payments, and for meeting near term and clinical milestones. The company may also receive sales royalties.
Joerg Moeller, Member of the Executive Committee of Bayer AG's Pharmaceuticals Division and Head of Research and Development said, 'We are driving forward digital transformation in R&D as we believe that digital technologies such as AI can simplify and speed up the discovery and development of new drugs for patients. The collaboration with Exscientia is expected to help us to achieve project milestones earlier and at the same time accelerate timelines by enabling more precise identification of suitable drug targets and lead structures.'
Exscientia's other partnerships include collaborations with Celgene, GSK, Roche, Sanofi, GT Apeiron, Rallybio and Evotec.
Frontier IP currently holds a 3.25 percent stake in the company.
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