AI deal to drive small molecule discovery for Bayer

London-based Exscientia has entered into a collaboration with Germany’s Bayer (BAYN: DE) with the goal of speeding up the discovery of small molecules focused on cardiovascular disease and oncology.

Exscientia, an artificial intelligence specialist, will work on three projects with targets agreed between both parties.

The company is eligible to receive up to 240 million euros ($266 million), including upfront and research payments, near term and clinical milestones, plus royalties on sales.