Bayer (ETR:BAYN) announced that it is entering into a collaboration agreement with artificial intelligence drug discovery company Exscientia to identify and optimize novel lead structures for potential drug candidates in treating cardiovascular and oncological diseases.
The agreement, announced earlier this month, is slated to see the companies work together on early research projects combining Exscientia’s proprietary AI drug discovery platform with Bayer’s data and drug discovery capabilities. Exscientia is also set to receive up to $266 million (€240 million) in upfront and research payments, as well as near-term and clinical milestones.
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