Exscientia’s stock rockets toward a record gain after AI-driven drug discovery collaboration with Germany’s Merck KGaA

The U.S.-listed shares of Exscientia PLC EXAI soared 28.5% toward a record one-day gain, and enough to pace all premarket gainers on major U.S. exchanges, after the U.K.-based precision medicine company announced a collaboration with Germany-based Merck KGaA MKKGY XE:MRK for the discovery of drug candidates across oncology, neuroinflammation and immunology. The multi-year collaboration will utilize Exscientia’s drug design and discovery capabilities, which are driven by use of artificial intelligence. As part of the collaboration, Exscientia will receive an upfront payment of $20 million in cash, and will be eligible…