Berlin – Frederik Gärtner and Jens Kretzschmann advised early-stage investor 42CAP on the sale of its stake in Vienna-based biotech startup Allcyte to UK-based pharma tech company Exscientia. Exscientia is establishing a European Union office in Vienna in connection with the purchase of Allcyte. Exscientia had just recently announced the closing of a $225 million Series D financing round, in which Exscientia raised capital from investors including SoftBank's Vision Fund 2 and funds managed by BlackRock and Mubadala Investment Co. Using AI-powered image analysis, Allcyte has developed a method to generate actionable insights into the functional activity of drugs and drug candidates directly in viable, primary tissue samples from human cancer patients at the single-cell level. This enables the company to empower physicians to treat cancer patients with the most promising drug at the right time, when traditional genetics-driven precision medicine fails to provide precise answers. It also enables pharmaceutical companies to select the most promising drug candidates for clinical development in the right patient populations to maximize clinical trial success rates and patient benefit. Allcyte started in 2017 as a spin-off from the Vienna-based CeMM Research Center for Molecular Medicine. The Allcyte shareholders were advised on the sale by BRANDL TALOS. The team consisted of Roman Rericha, Stephan Strass and Céline Dobnikar.
"It is fascinating to see how in modern cancer therapy the use of artificial intelligence in combination with biomedicine can help to directly determine the degree of efficacy of treatments and maximize them in this way," says Jens Kretzschmann. "We are very pleased to have been able to provide 42CAP with legal and tax advice on this transaction once again," adds Frederik Gärtner.
Frederik Gärtner and Jens Kretzschmann had already advised 42CAP on the investment in Allcyte in spring 2021.
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Team:
Dr. Frederik Gärtner (Corporate), Partner
Jens Kretzschmann (Tax), Partner
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