Recursion Pharmaceuticals, a Salt Lake City, UT-based drug discovery company, closed an additional $2.15M in Series A funding.
The additional funding, which brought the total amount raised in the round to $15.05M, came from several individual investors and Felicis Ventures. They joined Lux Capital, Obvious Ventures, Epic Ventures, Data Collective, AME Cloud Ventures, Wild Basin Investments, and other angel investors.
The company intends to use the funds to extend its drug and target discovery technology into new indication areas, such as aging, inflammation, infectious disease, oncology and diagnostics.
Led by Chris Gibson, Ph.D., CEO, Recursion uses a novel drug screening platform which combines experimental biology and bioinformatics to identify treatments for multiple rare genetic diseases. The core of the approach revolves around high-throughput automated screening using high-content assays in human cells, which allows the near simultaneous modeling of hundreds of genetic and other diseases. Data from these assays is then probed using advanced statistical and machine learning approaches to investigate the effects of thousands of known drugs and shelved drug candidates for the treatment of disease.