Frontier IP investee partners with Chinese biotech firm
By Duncan Ferris
Date: Friday 14 Jun 2019
(Sharecast News) - Frontier IP's portfolio company Exscientia on Friday expanded its presence in Asia after it entered an AI drug discovery partnership with Shanghai-headquartered GT Apeiron Therapeutics.
The AIM traded company said its portfolio company's AI drug discovery capabilities and GT Apeiron's proprietary technologies will be combined in order to accelerate the development of novel drugs via new pathways to tackle high impact therapeutic targets with an initial focus on oncology.
Andrew Hopkins, chief executive of Exscientia, said: "This is an exciting time for pharmaceutical research, with innovative approaches to drug discovery as well as the development of new commercial markets. Both are strongly evident in China, already the second largest national pharmaceutical market in the world, where we are delighted to join our expertise and technology with GT Apeiron to initiate our first discovery opportunity in the country."
The new partnership comes just a few months after Exscientia announced the opening of its Osaka office, strengthening its footprint in Asia.
As part of the new agreement, Exscientia will be entitled to become a shareholder in GT Apeiron as well as receiving milestones and royalties based on the clinical and commercial success of each programme.
Mingxi Li, board member of GT Apeiron, said: "We are delighted to partner with the world leading AI-driven drug discovery company who will also become a shareholder of GT Apeiron. We believe the joint effort will significantly improve drug R&D productivity to benefit patients."
Frontier IP's shares were up 0.64% at 79.00p at 1157 BST.
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