Novo leads $60m series-C for Exscientia

Katharine Hidalgo
27 May 2020

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Novo Holdings has led a $60m series-C funding round for drug discovery company Exscientia.

Evotec, Bristol Myers Squibb and GT Healthcare Capital also participated.

Novo Holdings is both a major shareholder in the Novo Group of companies and an investor in life science companies at all stages of developments.

The proceeds will be used to expand the company's existing portfolio and pipeline of drugs, launch new projects, grow its artificial intelligence biology capabilities and expand in the US.

Robert Ghenchev, senior partner and head of Novo Growth, the growth equity arm of Novo Holdings, joins Exscientia's board of directors as part of the financing round.

In March 2020, the company announced a joint initiative to identify Covid-19 antiviral treatments with Diamond Light Source and Scripps Research.

Previous funding
Exscientia raised a $15m funding round from drug discovery specialist Evotec in September 2017.

GT Healthcare Capital Partners backed the company in a $26m round in January 2019. New investor Celgene Corporation and previous backer Evotec also took part in the round.

Company
Founded in 2012 and based in Oxford, Exscientia specialises in artificial intelligence-driven drug discovery. The company's platform, Centaur Chemist, enables it to move rapidly from idea generation to new drug molecules ready for clinical development, according to the company's website.

People
Novo Holdings – Robert Ghenchev (senior partner).
Evotec – Werner Lanthaler (CEO).
Exscientia – Andrew Hopkins (CEO).