May 19 Quick Takes: AI play Exscientia expands BMS collaboration; plus HiberCell, eureKARE and RWE Alliance
Less than a month after raising a $525 million series D round led by Softbank, Oxford, U.K.-based AI play Exscientia Ltd. has expanded its collaboration with Bristol Myers Squibb Co. (NYSE:BMY) to discover small molecule cancer and immune therapies using its AI-driven Centaur Chemist platform. The deal includes up to $50 million up front, $125 million in near to mid-term milestones, more than $1.2 billion in additional milestones and tiered royalties.
With a $67.4 million series B round and a $30 million debt facility from Hercules Capital Inc. (NYSE:HTCG), cancer play HiberCell Inc. plans to advance Imprime PGG into two Phase II studies and generate Phase I data from its PERK inhibitor HC-5404. New investors Huizenga Capital Management, Monashee Investment Management, Tekla Capital Management, Hercules, Mount Sinai Innovation Partners and other undisclosed investors participated in the round alongside existing investors Arch Venture Partners, Magnetic Ventures, BMS, Trinitas Capital and others from the series A syndicate. ...