Frontier IP Group (FIPP)

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 41.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 59.00p
  • 52 Week Low: 33.00p
  • Currency: UK Pounds
  • Shares Issued: 56.17m
  • Volume: 11,222
  • Market Cap: £23.03m

Frontier IP investment Exscientia raises $60m in series C round

By Josh White

Date: Tuesday 26 May 2020

LONDON (ShareCast) - (Sharecast News) - Intellectual property company Frontier IP said on Tuesday that its portfolio company, AI-driven drug discovery firm Exscientia, has raised $60m (£49.1m) through a series C financing round.

The AIM-traded company said the new capital would be used to expand Exscientia's existing portfolio and pipeline, and to accelerate its international expansion, including in the United States.

It said Exscientia had demonstrated high growth and met significant milestones, noting that earlier in the year, it announced that the first ever drug designed by artificial intelligence (AI) had entered phase 1 human clinical trials, in partnership with Sumitomo Dainippon Pharma.

The financing round was led by new investor Novo Holdings, with existing investors Evotec, Bristol Myers Squibb and GT Healthcare Capital Partners participating.

Robert Ghenchev, senior partner and head of Novo Growth, would join Exscientia's board of directors as part of the round.

"As a result of the financing round, Frontier IP now holds a 2.4% equity stake in Exscientia," the board said in its statement.

"Based on the group's trading for the year to date, the outlook for Frontier IP for the remainder of the financial year ending 30 June, including in relation to the group's overall portfolio valuation, remains in line with management expectations following the completion of the Exscientia financing round."

At 1040 BST, shares in Frontier IP were up 1.75% at 64.1p.

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FIPP Market Data

Currency UK Pounds
Share Price 41.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 59.00p
52 Week Low 33.00p
Volume 11,222
Shares Issued 56.17m
Market Cap £23.03m

FIPP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.27% above the market average35.27% above the market average35.27% above the market average35.27% above the market average35.27% above the market average
53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average
Price Trend
43.3% below the market average43.3% below the market average43.3% below the market average43.3% below the market average43.3% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Income Not Available
Growth
93.28% above the market average93.28% above the market average93.28% above the market average93.28% above the market average93.28% above the market average
93.94% above the sector average93.94% above the sector average93.94% above the sector average93.94% above the sector average93.94% above the sector average

FIPP Dividends

No dividends found

Trades for 29-May-2024

Time Volume / Share Price
14:42 10,000 @ 41.30p
14:35 30 @ 41.40p
11:00 98 @ 41.40p
11:00 94 @ 40.00p
11:00 94 @ 40.00p

FIPP Key Personnel

CEO Neil Crabb
CFO Jo Stent

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