Recursion Pharmaceuticals
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.
The company is based in Salt Lake City, Utah. It was founded by Chris Gibson, Dean Li and Blake Borgeson.
History
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. In 2018 Recursion moved into its current location at the Gateway downtown. 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.
In August 2024, the company acquired UK-based biotechnology company Exscientia for $688 million.
Financials
By 2015, Recursion had closed its Series A round of funding and signed a research agreement with Sanofi Genzyme. In 2020, the company received $50 million equity investment from Bayer during its Series D funding round.
The company listed on the Nasdaq Stock Exchange on April 20, 2021 under the ticker symbol RXRX. In November 2021, Recursion signed a $12 billion partnership deal with Roche and its subsidiary Genentech to advance therapies in neuroscience among other things.
Partnerships
In September 2020, Recursion and Bayer announced their strategic collaboration agreement to discover and develop treatments for fibrotic diseases. In 2023, they announced another partnership focusing on oncology research.
In May 2023, Recursion acquired two companies in the AI-enabled drug discovery space, Toronto-headquartered Cyclica and Montreal-based Valence.
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.