Recursion Pharmaceuticals
 | |
| Nasdaq: RXRX | |
| Founded | 2013  |
| Headquarters | |
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]
The company is based in Salt Lake City, Utah. It was founded by Chris Gibson, Dean Li and Blake Borgeson.[4][5]
History
[edit]In 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 a satellite office 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
[edit]By 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
[edit]In 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.