Recursion Combines with Exscientia to Drive Future of AI Drug Discovery
Deal News | Nov 20, 2024 | Globenewswire
Recursion has completed its acquisition of Exscientia, creating a highly integrated AI-powered drug discovery platform. This strategic consolidation promises to enhance Recursion's operational capabilities, enabling faster and more cost-effective drug discovery. With over 10 clinical and preclinical programs in its pipeline and more than $450 million in upfront and milestone payments to date, Recursion is establishing itself as a leader in the AI-enabled drug discovery market. The newly combined company will continue to leverage Exscientia's advanced chemical design methods and its own extensive proprietary data across various programs in oncology and immunology. The integration is expected to generate efficiencies and innovation, as Recursion builds on its platform and strengthens its position in the biopharma sector.
Sectors
- Biotechnology
- Pharmaceutical
- Artificial Intelligence
Geography
- United States – Recursion is headquartered in Salt Lake City, the central operations site for the combined company.
- United Kingdom – Exscientia was based in the UK, and the combined company maintains offices in major UK cities like London.
- Canada – Recursion has primary offices in Toronto and Montreal, indicating significant operations in Canada.
Industry
- Biotechnology – The article focuses on the biotechnology industry as it discusses the development and discovery of drugs using AI technology by Recursion and Exscientia.
- Pharmaceutical – This industry is relevant due to the focus on drug discovery, development, and clinical trials, integral parts of Recursion's new portfolio.
- Artificial Intelligence – The combined capabilities of Recursion and Exscientia rely heavily on AI to innovate and optimize the drug discovery process.
Financials
- $450M – Upfront and milestone payments received from partnerships to date with the potential for over $20B in additional milestone payments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Recursion Pharmaceuticals | Bidding Company | Company | A techbio company focused on industrializing drug discovery using advanced technological platforms. |
| Exscientia | Target Company | Company | An AI-driven drug design and development company, now a wholly owned subsidiary of Recursion. |
| Chris Gibson | CEO of Recursion | Person | Co-founder and leader of Recursion, driving the company's AI drug discovery initiatives. |
| David Hallett | Chief Scientific Officer | Person | Former CSO and Interim CEO of Exscientia, now CSO at Recursion, leading scientific strategies. |