Exscientia Achieves Milestones for Two Programmes in Sanofi Collaboration

On October 16, 2024 Exscientia plc (Nasdaq: EXAI) reported the advancement of two additional discovery programmes within its collaboration with Sanofi, with Exscientia receiving an aggregate of $15 million in milestone payments (Press release, Exscientia, OCT 16, 2024, View Source [SID1234647241]). Both lead compounds have met the product profile requirements, set by both Exscientia and Sanofi, to enable a transition to the lead optimisation phase within the collaboration. Both programmes have also shown a high level of differentiation in early profiling and have the potential to produce best-in-class assets.

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"We are excited to announce the advancement of these programmes. This is testament to our consistent ability to design compounds that solve complex problems," said David Hallett, Ph.D., interim Chief Executive Officer and Chief Scientific Officer of Exscientia. "We look forward to continuing to work with Sanofi to advance these programmes towards development, and ultimately working together to bring potential new treatment options to patients with significant unmet need."

Exscientia will receive $15 million, in aggregate, for achieving these milestones. The payment is expected to be received by Exscientia in the fourth quarter of 2024 and reflected as cash inflows from collaborations and recognised as revenue over the duration of the collaboration. For these two programmes, Exscientia is also eligible to receive additional pre-commercial milestone payments of over $300 million and commercial milestones of over $300 million as well as tiered royalties on product sales ranging from high-single-digits to mid-teens, subject upon the achievement of certain specified research, development, regulatory and commercial milestones.