Through the business combination, BenevolentAI received gross proceeds of €225 million. The product will allow BenevolentAI to accelerate the development of its clinical pipeline and continue to invest in its technology platform.

As part of the transaction, Olivier Brandicourt, former CEO of Sanofi, and Jean Raby, former CEO of Natixis Investment Managers, have joined BenevolentAI’s board of directors.

Joanna Shields, CEO of BenevolentAI, said, “Today, the Benevolent platform is fully operational, scientifically validated and delivering results, as evidenced by our internal pipeline of over 20 platform-generated drug candidates and successful collaborations. This listing underscores our commitment to becoming a key player in the global drug discovery industry. »

BenevolentAI: What you need to know

Founded by Ken Mulvany, BenevolentAI is a clinical-stage AI drug discovery company that combines advanced AI and machine learning with science to discover and develop new and more effective drugs.

The company’s AI platform powers an internal pipeline of more than 20 drug programs, ranging from target discovery to clinical studies. This includes a new target for the treatment of ulcerative colitis and an in-clinic atopic dermatitis program.

The company helped identify Eli Lilly’s arthritis drug baricitinib, also known as Olumiant, as a COVID-19 treatment. It has been cleared for emergency use by the FDA. BenevolentAI has a research center in Cambridge (UK) and an office in New York.

Dr François Nader, President of BenevolentAI, says “BenevolentAI is strongly positioned to unlock a new level of growth as a public company and advance its ambitious plans to scale its innovative R&D platform. The next chapter for BenevolentAI is exciting, as we seek to strengthen our position in the AI-driven drug discovery industry and advance our mission to provide patients with life-changing medicines. I am also delighted to welcome Olivier Brandicourt and Jean Raby to our Board of Directors – they bring immense experience and expertise, which will be invaluable as we pursue our value creation strategy.

Odyssey: what you need to know

Founded by brothers Michael and Yoel Zaoui, Odyssey is a special purpose acquisition company (SPAC) incorporated in Luxembourg to effect a merger, share exchange, asset acquisition and share purchase with a European company with primary activities in healthcare or TMT.

Michael Zaoui, former Chairman of Odyssey, said: “The completion of the combination and BenevolentAI’s listing on Euronext Amsterdam marks the final step in Odyssey’s journey. Once again, we would like to thank our shareholders and all those who contributed to this result. BenevolentAI is now beginning life as a public company, and we are confident that it will thrive in the large and exciting space of AI-led drug discovery.