High value on Exscientia

Dundee spin-out ‘could be Scotland’s next unicorn’

Andrew HopkinsA Dundee University spin-out could be Scotland’s next unicorn – a company worth more than $1 billion.

A new report says a rival to life sciences business Exscientia was recently valued at twice that figure.

Exscientia uses artificial intelligence to automate drug design and was valued at £100 million following a funding round last year.

Since then it has secured several deals with global pharmaceutical firms, including a collaboration with Roche worth £53.5m, a partnership with American biotech firm Celgene, and other deals with Evotec, Sanofi and GSK.

A new report by equity analyst Ian Jermin of Allenby Capital noted that a “similarly-sized” rival to Exscientia was valued at $2.1bn (£1.6bn).

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