LONDON — BenevolentAI (Euronext Amsterdam: BAI), a pioneering leader in AI-driven biopharma drug discovery, has outlined its updated business priorities, emphasizing a strategic shift towards maximizing returns for shareholders and advancing innovative medicines for patients.
The company’s decision to concentrate on AI-driven drug discovery collaboration and its proprietary pipeline revenue-generating pillars comes after recent successes in these areas. Following a thorough market assessment of its Knowledge Exploration Tools, BenevolentAI has opted to discontinue further investment in this SaaS product due to the considerable resources required for commercialization and the extended timeframe for potential financial returns.
To align with its refined focus, BenevolentAI will implement a reduction in headcount by approximately 30%, alongside a 20% decrease in cash burn. Despite these adjustments, key skills and capabilities crucial for executing collaborations and pipeline programs will be retained.
Dr. Joerg Moeller, Chief Executive Officer of BenevolentAI, emphasized the company’s commitment to optimizing capital allocation while advancing drug discovery efforts: “BenevolentAI is dedicated to developing life-changing medicines for patients by uniting science and technology. Focusing on drug discovery collaborations and our proprietary pipeline aligns with our goal of delivering value creation for shareholders and innovative medicines for patients.”
The company’s strategic realignment includes the closure of its US office, aiming to enhance operational effectiveness by consolidating key functions at its London and Cambridge sites in the UK.
Despite the adjustments, BenevolentAI remains committed to its pipeline programs and the development of the BenevolentAI PlatformTM. The revised business priorities are projected to extend the company’s cash runway to late Q3 2025.
About BenevolentAI: BenevolentAI (AMS: BAI) leverages its proprietary Benevolent PlatformTM, integrating AI and science to uncover new biology, predict novel targets, and develop first-in-class or best-in-class drugs for complex diseases. With a focus on AI-driven drug discovery collaborations and proprietary pipeline advancement, the company is at the forefront of reshaping the future of drug discovery and delivering innovative medicines.
