Dundee spinout Exscientia is continuing a busy fundraising year with a filing for an IPO in the US and a $35m concurrent private placement.
Exscientia, a UK-based drug discovery technology spinout of University of Dundee, filed for an initial public offering in the US on Friday, using a customary $100m placeholder amount.
The spinout has not yet determined how many American Depositary Shares it will issue, or at what price, but has secured a commitment from Bill and Melinda Gates Foundation to raise $35m in a concurrent private placement.
Founded in 2012, Exscientia has created an artificial intelligence-based end-to-end target identification,…
