AI drug discovery company Exscientia will cut 25% of its staff

The UK-based artificial intelligence drug discovery firm Exscientia has decided to lay off nearly a quarter of its staff as part of “cost efficiency measures.” The company says the various moves will result in annualized savings of $40 million, including $7 million–$9.6 million from the job cuts. The departments likely to be affected by the workforce reduction will include target identification, precision medicine, experimentation, and engineering.