Recursion Pharmaceuticals, a Salt Lake City, UT-based next-gen biopharma company combining automated, experimental biology with artificial intelligence to discover and develop drugs at scale, closed a $121m Series C financing.
The round was led by Baillie Gifford’s flagship investment trust, Scottish Mortgage Investment Trust PLC, with participation from new institutional investors Intermountain Ventures, Regents of the University of Minnesota, Texas Tech University System, prior institutional investors Lux Capital, Data Collective, Mubadala Ventures, Two Sigma Ventures, Obvious Ventures, Felicis Ventures, Epic Ventures, Menlo Ventures, AME Cloud Ventures, and CRV, and angel investors.
The company intends to use the funds for continued build-out of its machine learning-enabled drug discovery platform alongside new capabilities designed to accelerate new chemical entity chemistry and predict safety pharmacology and advancement of its pipeline of pre-clinical and clinical assets, including clinical-stage programs for cerebral cavernous malformation and neurofibromatosis type 2.
While Recursion plans to prioritize the advancement of treatments for rare diseases within its own pipeline, it will continue to sign partnerships with pharmaceutical companies in a variety of therapeutic areas, including immuno-oncology, oncology, aging, and inflammation.
Led by Chris Gibson, PhD., CEO, Recursion Pharmaceuticals is a biotechnology company which combines experimental biology and bioinformatics with artificial intelligence in a massively parallel system to identify treatments for any disease which can be modeled at the cellular level. From its initial and continued focus on drug repurposing to treat rare diseases, Recursion has broadened its platform to probe rich data from high-throughput automated screens for a number of indications, including aging, inflammation, infectious disease, oncology, and diagnostics.
FinSMEs
16/07/2019