Exscientia set for best day on Sanofi drug deal worth up to $5.2 bln

Exscientia

07/01/2022 11:09

** U.S.-listed shares of British AI-driven pharma co
 EXAI.O  jump ~14% to $20.79 premarket, set for best day
    ** Shares on course to open at their highest in nearly a
month 
    ** Co partners with French drugmaker Sanofi SA  SASY.PA  to
develop up to 15 drug candidates across oncology and immunology
segments in a deal worth up to $5.2 bln including milestone
payments  urn:newsml:reuters.com:*:nL4N2TM311 
    ** EXAI to get an upfront cash payment of $100 mln 
    ** Co to lead discovery and design of small molecule drugs
up to nomination of the candidate; SASY to be responsible for
preclinical and clinical development, manufacturing and
commercialization
    ** Three of 4 brokerages rate the stock "buy" or higher and
1 "hold"; their median PT is $28.50 - Refinitiv data


 (Reporting by Oishee Majumdar in Bengaluru)
 ((oishee.majumdar@thomsonreuters.com;))