Recursion Pharmaceuticals is a clinical-stage biotechnology company that focuses on mapping and decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering.[1][2][3]
 | |
| Nasdaq: RXRX | |
| Founded | 2013  |
| Headquarters | |
The company is based in Salt Lake City, Utah. It was founded by Chris Gibson, Dean Li and Blake Borgeson.[4][5]
History
editIn January 2014, the company moved its operations from Dean Li’s lab at the University of Utah to its first facility, and later into the University of Utah Research Park.[6][7] In 2018 Recursion moved into its current location at the Gateway downtown.[8][9] Recursion maintains this facility as well as satellite offices within London, San Francisco Bay Area, Mila (research institute), Toronto and the Quebec Artificial Intelligence Institute in Montreal.[10][11]
In August 2024, the company acquired UK-based biotechnology company Exscientia for $688 million.[12][13]
Financials
editBy 2015, Recursion had closed its Series A round of funding and signed a research agreement with Sanofi Genzyme.[14] In 2020, the company received $50 million equity investment from Bayer during its Series D funding round.[15][16]
The company listed on the Nasdaq Stock Exchange on April 20, 2021 under the ticker symbol RXRX.[17][18] In November 2021, Recursion signed a $12 billion partnership deal with Roche and its subsidiary Genentech to advance therapies in neuroscience among other things.[19][20][21]
Partnerships
editIn September 2020, Recursion and Bayer announced their strategic collaboration agreement to discover and develop treatments for fibrotic diseases.[22] In 2023, they announced another partnership focusing on oncology research.[23]
In May 2023, Recursion acquired two companies in the AI-enabled drug discovery space, Toronto-headquartered Cyclica and Montreal-based Valence.[24][25]
In July 2023, the company announced a collaboration and $50M investment from NVIDIA to accelerate the development of its AI foundation models for biology and chemistry, and potentially leverage NVIDIA cloud services as its means of distribution.[26][3]
References
edit- ^ Cornall, Jim (2022-09-14). "Recursion adds FAP and C. diff clinical trials". Labiotech.eu. Retrieved 2024-07-29.
- ^ "Recursion Pharma".
- ^ a b Coleman, Julie (2024-05-10). "Recursion Pharmaceuticals CEO explains how AI could make drug development faster and less costly". CNBC. Retrieved 2024-07-29.
- ^ Gibson, Chris (2023-07-20). "How Chris Gibson founded Recursion Pharmaceuticals". Utah Business. Retrieved 2024-07-29.
- ^ "Board of Directors - Recursion".
- ^ "Technology Licensing Office at the University of Utah - Startup news: The latest out of Recursion and Salarius Pharmaceuticals". technologylicensing.utah.edu. Retrieved 2024-07-29.
- ^ "Utah AI/biotech innovator Recursion Pharmaceuticals on a roll, doubling downtown HQ". Deseret News. 2023-12-20. Retrieved 2024-07-29.
- ^ "Salt Lake mayoral candidate Erin Mendenhall outlines plans for creating a tech ecosystem in the capital city". The Salt Lake Tribune. Retrieved 2024-07-29.
- ^ "Recursion Pharma takes high-tech approach to drug discovery". Deseret News. 2023-12-22. Retrieved 2024-07-29.
- ^ "Recursion Announces Multi-Year Collaboration with Mila for Tech-Enabled Drug Discovery | Mila". mila.quebec. Retrieved 2024-07-29.
- ^ PhD, Andrii Buvailo (2024-03-11). "Recursion Expands Its Presence with a New London Office and Bolsters Scientific Advisory Team". www.biopharmatrend.com. Retrieved 2024-07-29.
- ^ Cahill, Helen (2024-08-09). "British drugs developer Exscientia is snapped up for $688m". www.thetimes.com. Retrieved 2024-08-09.
- ^ "FirstWord". firstwordpharma.com. Retrieved 2024-08-09.
- ^ Eugene (2016-04-26). "Sanofi's Genzyme, Recursion Partner in Drug Repurposing". DCAT Value Chain Insights. Retrieved 2024-07-29.
- ^ Rosenbaum, Leah. "Recursion Pharmaceuticals Raises $239 Million And Partners With Bayer For AI Drug Discovery". Forbes. Retrieved 2024-07-29.
- ^ "FirstWord". firstwordpharma.com. Retrieved 2024-07-29.
- ^ Carchidi, Alex (2024-04-17). "Where Will Recursion Pharmaceuticals Be in 5 Years?". The Motley Fool. Retrieved 2024-07-29.
- ^ "Recursion Pharmaceuticals Inc, RXRX:NSQ summary - FT.com". markets.ft.com. Retrieved 2024-07-29.
- ^ Staff, G. E. N. (2021-12-07). "Roche, Genentech, Recursion Launch Up-to-$12B AI Drug Discovery Effort". GEN - Genetic Engineering and Biotechnology News. Retrieved 2024-07-29.
- ^ "The moment we worked together to push boundaries in drug discovery". www.celebratelife.roche.com. Retrieved 2024-07-29.
- ^ "Roche Signs Machine-Learning Neuroscience Deal With Recursion". Bloomberg.com. 2021-12-07. Retrieved 2024-07-29.
- ^ "Bayer collaborates with Recursion to strengthen digital drug discovery and advance new therapies for fibrotic diseases".
- ^ Priyan, Vishnu (2023-11-10). "Bayer and Recursion expand oncology research deal". Pharmaceutical Technology. Retrieved 2024-07-29.
- ^ "Recursion to acquire two Canadian drug discovery startups". BioPharma Dive. Retrieved 2024-07-29.
- ^ "Cyclica Acquisition by Recursion Pharmaceuticals Closes – Green Sky Ventures". 2024-07-19. Retrieved 2024-07-29.
- ^ "Recursion Pharmaceuticals soars 121% after Nvidia invests $50 million in the biotech for AI drug discovery". Yahoo Finance. 2023-07-13. Retrieved 2024-07-29.