Finance Watch: Exscientia Launches Last IPO Of Q3, Brings US Total To 88

Artificial intelligence-enabled drug discovery and development firm Exscientia Ltd. launched the third quarter’s final biopharmaceutical initial public offering on 30 September, grossing $464.7m from the IPO and a concurrent private placement. The company’s offering adds to the industry’s already impressive year, which has seen 88 IPOs in the US to date after breaking the 2020 record of 86 first-time offerings earlier in September.

Drug developers also continue to go public through mergers with special purpose acquisition corporations (SPACs), which are publicly traded blank...