Recursion Pharmaceuticals, a Salt Lake City, UT-based drug discovery company, raised $12.9m in Series A round of funding.
The round was led by Lux Capital, with participation from Obvious Ventures, Epic Ventures, Data Collective, AME Cloud Ventures, Wild Basin Investments, and several prominent angel investors.
The company intends to use the funds to to scale and expand its platform.
Led by Chris Gibson, PhD, CEO, Recursion has built a proprietary drug discovery platform that combines high-throughput biology and automation with advances in Artificial Intelligence (AI).
The company has already identified novel uses for known drugs, bioactive compounds, and shelved pharma assets in the space of rare genetic disease.
The early focus includes drug repurposing and repositioning, a strategy which leverages existing safety and efficacy data to translate discoveries into the clinic more rapidly (and at lower cost) than building drugs from scratch. of Recursion.
The funding announcement follows the award of a grant from the National Institutes of Health to apply Recursion’s platform to diseases of aging. The company is also exploring both internal projects and partnerships in inflammation, infectious disease, oncology and diagnostics.