Commenting on the acquisition, Nikolaus Krall, Allcyte CEO added, “We are incredibly excited about the opportunity to immediately apply this technology to a wide range of drug discovery projects at Exscientia. This will also provide our team with the scale to expand our operations much more quickly to help provide important personalised, precision medicines to as many patients as possible.”
The transaction is currently being reviewed under the customary Austrian regulatory process prior to closing. Under the terms of the merger agreement, Exscientia will pay €50 million, comprising cash and Exscientia ordinary shares. Exscientia plans to expand the Vienna site as its hub in the European Union.
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About Exscientia
Exscientia is an AI-driven pharmatech company committed to discovering and designing the best possible medicines in the fastest and most effective manner. Exscientia is the first company to progress AI-designed small molecules into the clinical setting and repeatedly demonstrate the ability of AI to transform how drugs are created. Exscientia’s AI platform has now designed three drugs that are in Phase 1 human clinical trials.
Drug design is precision engineering at the molecular scale. Exscientia has built dedicated AI systems that efficiently learn from the widest range of data and consistently reapply enhanced knowledge through iterations of design. Because Exscientia’s AI platform learns more effectively and rapidly than human-led efforts alone, candidate molecules satisfying complex therapeutic requirements are created with revolutionary efficiency. Exscientia believes that designing better drugs, faster, will allow the best ideas of science to rapidly become the best medicines for patients.
About Allcyte
Allcyte is a Vienna, Austria-based precision medicine company whose mission is to ensure that every cancer patient gets the best possible treatment. Allcyte’s technology is designed to select the most promising drug candidates for clinical development in the right patient populations to maximise clinical study success rates and patient benefit. Clinically, Allcyte’s goal is to provide physicians with actionable insights on how to treat cancer patients with the right drug at the right time in situations where classical genetics-driven precision medicine does not give precise answers. This is achieved by measuring functional anticancer drug activity in viable, primary human patient tissues at the single cell resolution to gain a preview of likely clinical efficacy. Allcyte’s technology is the first AI platform to successfully improve cancer patient outcomes in a clinical trial.
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