Having participated in Exscientia Ltd.'s recent $225m fundraising, Bristol Myers Squibb Company is paying the UK-based artificial intelligence-driven pharmatech company another $50m upfront as part of a drug discovery collaboration.
On top of the upfront fee, the agreement includes up to $125m in near to mid-term potential milestones and additional clinical, regulatory and commercial payments that take the potential value of the deal beyond $1.2bn, plus tiered royalties