The Dundee spinout has raised more than $304m in its IPO in the US, with another $160m secured through a concurrent private placement.

Exscientia, the UK-based artificial intelligence-powered drug discovery platform spun out of University of Dundee, went public on Friday after raising more than $304m in its initial public offering on the Nasdaq Global Select Market.

The spinout issued more than 13.8 million American Depositary Shares (ADSs) – representing the same number of ordinary shares – priced at $22 each. The transaction valued Exscientia at $2.9bn and its shares, trading under EXAI, are worth $27.10 as of the time of publication.

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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