Exscientia tees up an IPO for its AI drug discovery platform, likely not willing to settle for just $100M
The biotech IPO market awoke from its summer hibernation on Friday morning with a small ADHD drug developer seeking a modest raise, but late Friday night saw another company file its SEC paperwork, one that will likely shoot for the stars.
Exscientia, the UK-based AI outfit with bold claims about its platform, submitted its F-1 on Friday, penciling in an initial $100 million raise estimate. That figure will almost certainly end up much higher, as Exscientia has spent most of 2021 racking up huge fundraising sums thanks to a Series C extension headed by BlackRock, and an up to $525 million Series D that included a $300 million equity investment from SoftBank.
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