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 the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
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