Exscientia buys Allcyte for €50Mn to expand translational capabilities

AI-driven pharmatech firm- Exscientia has announced the acquisition of Allcyte- a Vienna-based precision medicine company with an aim to enhance its understanding of patient biology and expand its artificial cell lines and animal models.

Allcyte owns a platform that can anticipate the effectiveness of cancer treatments in clinics with the help of AI and analyze the activity of drugs in patient samples at single-cell resolution.

By integrating into the operations of Exscientia, Allcyte’s novel platform will be expanded into early discovery so that these advanced technologies can be applied from target discovery, drug optimization, to the selection of patients.

Notably, this approach is expected to allow discovery of projects to be monitored in a biological setting that accurately reflects the patient environment, boosting transition from laboratory to clinic. 

As per a statement by Andrew Hopkins, CEO of Exscientia, Allcyte will be able to showcase which therapy works for individual patients using the most disease-relevant screening solution.  

Andrew mentioned that Allcyte has assembled a leading team in Vienna and a combination of both the platforms will allow Exscientia to develop advanced patient-first AI technology.   

Speaking about the acquisition, Nikolaus Krall, CEO of Allcyte, claimed that the sale will offer its team an opportunity to expand operations and offer integral targeted, precision medicines to as many patients as possible.  

The Austria-based company aims at ensuring that each cancer patient receives the best possible treatment. The company’s technology has been designed to choose the most promising drug candidates for clinical development in the right patient population to maximize clinical study success rates.

Sources close to the news reveal that Exscientia is slated to pay nearly €50 million in cash and shares for the purchase. The firm has announced that it will be expanding the Vienna facility as the hub for its European Union operations.

Source Credits: https://www.epmmagazine.com/pharma-manufacturing-news/pharma-finance-and-investment-news/exscientia-acquires-ai-precision-medicine-company-allcyte/