The merger will strengthen the Recursion Operating System (OS), a platform that uses machine-learning algorithms to expand one of the world’s largest proprietary biological, chemical, and patient-centric datasets. The company aims to create virtual cells to enable the execution of clinical trials at scale. The combined company will be headquartered in Salt Lake City, with primary offices in Toronto, Montreal, Milpitas, New York, the Oxford area, and London.
Key takeaways:
- AI-powered drug discovery and development companies, Recursion and Exscientia, have completed their business combination, with Exscientia becoming a wholly owned subsidiary of Recursion.
- The combined company has more than 10 clinical and preclinical programs, 10 advanced discovery programs, and more than 10 partnered programs.
- Recursion and Exscientia have received approximately $450M in upfront and realized milestone payments from partners to date, with the potential to receive more than approximately $20B in additional milestone payments before royalties.
- The combined company will have approximately 800 employees with headquarters in Salt Lake City, and primary offices in Toronto, Montreal, Milpitas, New York, the Oxford area, and London.