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

AI-Enabled Firm Raised $464.7m From IPO, Private Placement

 
• By Mandy Jackson

Public Company Edition: Also, Roivant and two other biopharma firms close SPAC mergers and begin trading on the Nasdaq, Spero negotiated a royalty financing worth up to $125m and Phathom secured a $200m term loan. 

Finance Watch Public Company

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 check companies that exist to merge with another company, often in a specific industry

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