Recursion Pharmaceuticals, a Salt Lake City-based innovative biotechnology company specializing in artificial intelligence enabled drug discovery, raised a $20.5m credit facility.
Square 1 Bank, a division of Pacific Western Bank, provided the financing.
The company intends to use the funds for continued growth initiatives.
Led by Chris Gibson, Ph.D., co-founder and chief executive officer, Recursion Pharmaceuticals combines artificial intelligence and automation to conduct experimental biology at scale. By applying advanced machine learning algorithms to a dataset of more than one petabyte of relatable biological images, the company is able to discover new chemical entities, predict mechanisms of action, reveal previously undiscovered biology, and map compounds to any disease that can be modeled in human cells.
Recursion is backed by several leading investors including Lux Capital, Data Collective Venture Capital, Mubadala Investment Company, and Obvious Ventures.