The cancer drug developer has closed its initial public offering after underwriters exercised the greenshoe option.
Exscientia, a UK-based drug discovery technology developer spun out of University of Dundee, closed its initial public offering at just over $350m on Tuesday.
The spinout floated in an upsized IPO last week, issuing more than 13.8 million shares priced at $22. Telecoms and internet group SoftBank’s Vision Fund 2 and Bill and Melinda Gates Foundation added $160m in a private placement.
Joint book-running managers Goldman Sachs, Morgan Stanley, BofA Securities and Barclays Capital subsequently took up the option to acquire a further 2.08 million additional shares, Exscientia’s shares having closed at $25.26 on Monday.
Founded in 2012, Exscientia utilises artificial intelligence in a precision oncology platform it is using to develop cancer immunotherapy treatments. It is also working on prospective treatments for inflammatory diseases.
The offering was preceded by more than $368m in funding, the most recent being a $225m series D round led by SoftBank Vision…
