A British company which uses artificial intelligence to discover new drug molecules has turned to one of the world’s top life sciences investors to lead a near-£50m capital injection.Sky News has learnt that Exscientia, which is based in Oxford, will announce on Tuesday a $60m (£49m) funding round aimed at accelerating its international expansion during a period of enormous investor interest in AI-driven drug discovery.The fundraising is being led by Novo Holdings, a Danish-based company that is part of the Novo Nordisk Foundation – a prominent global pharmaceuticals investor.The announcement of Exscientia’s equity-raise comes amid a string of collaborative ventures between companies in the pharmaceuticals and biotech industries in the race to develop a vaccine and treatments for coronavirus.In March, Exscientia announced a joint initiative with Diamond Light Source, a science facility in Oxfordshire, and Calibr, a drug developer, to produce COVID-19 antiviral treatments. Advertisement Exscientia applies AI to small molecule drug discovery, and claims to be the world’s leading company of its type.Its Series C funding round comes almost 18 months after it raised $26m from investors including Bristol Myers Squibb, the pharmaceutical giant, and Evotec, a drug discovery alliance and development partnership company More from Business Coronavirus: ‘Strategically… Read full this story
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