Sanofi, Exscientia sign development deal worth up to $5.2 billion

sanofi,-exscientia-sign-development-deal-worth-up-to-$5.2-billion

Shares of Exscientia EXAI, +10.28% jumped 14.3% in premarket trading on Friday after it announced a deal with Sanofi SNY, +1.19% to develop up to 15 new oncology and immunology drug candidates using Exscientia’s artificial intelligence platform. Sanofi’s stock was up 0.8%. As part of the agreement, Sanofi will pay Exscientia an upfront payment of $100 million. Additional milestone payments are worth up to $5.2 billion. So far this year, Exscientia’s stock is down 7.9%, while Sanofi shares are down 1.0%. The broader S&P 500 SPX, -0.41% is down 1.4% for the year.

Source: Marketwatch

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