Frontier IP’s Neil Crabb joins Proactive London’s Katie Pilbeam after selling further shares in Exscientia PLC, an artificial intelligence (AI)-driven drug developer, for a net $4.3mln (£3.2mln).
It will use the proceeds for general working capital purposes and to provide further support to its existing portfolio companies.
Including the sale of Exscientia shares last month, Frontier has sold a total of 391,200 Exscientia ADSs for net proceeds of about $8.3mln, generating an estimated realised gain of £2.79mln for Frontier in its financial year to end June 2022.
They also discuss portfolio company Cambridge Raman Imaging (CRI) which is to receive a grant from the European Innovation Council’s Transition awards to fund the development of a low-cost cancer diagnostic as part of the CHARM project.