Exscientia Shares Rally Premarket on Lucrative Merck Deal
September 20 2023 - 6:47AM
Dow Jones News
By Colin Kellaher
Shares of Exscientia rose sharply in premarket trading Wednesday
after the precision-medicine company formed an
artificial-intelligence collaboration potentially worth hundreds of
millions of dollars with German science and technology company
Merck KGaA.
As part of the multi-year agreement, Exscientia said it will
receive a $20 million upfront payment from Merck and will be
eligible for up to $674 million in milestone payments, along with
royalties on product sales.
Exscientia said the companies will use its AI-driven precision
drug design and discovery capabilities to discover novel
small-molecule drug candidates across oncology, neuroinflammation
and immunology.
Exscientia shares, which closed Tuesday at $5.06, were recently
up 21% to $6.14 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 20, 2023 06:32 ET (10:32 GMT)
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