Recursion and Exscientia, two leaders within the AI drug discovery house, have formally mixed to advance the industrialization of drug discovery

• Recursion unveils post-combination technology-enabled portfolio with greater than 10 scientific and preclinical packages, 10 superior discovery packages, and greater than 10 partnered packages
• Platform will deal with first and best-in-class drug discovery and growth, demonstrating the power to search out novel insights and dramatically cut back the time and value of discovery
• Recursion will host an replace name at the moment, November 20, 2024 at 7:30 a.m. ET / 5:30 a.m. MT / 12:30 p.m. GMT on LinkedIn, X and Youtube

SALT LAKE CITY, Nov. 20, 2024 (GLOBE NEWSWIRE) — The enterprise mixture of two AI-powered drug discovery and growth firms, Recursion (Nasdaq: RXRX) and Exscientia has been accomplished, with Exscientia changing into a completely owned subsidiary of Recursion making a vertically-integrated and technology-enabled drug discovery platform. Exscientia ADSs (Nasdaq: EXAI) ceased buying and selling and can be delisted from Nasdaq.

“I believe the combination of the incredible teams and platforms at Exscientia and Recursion position us as the leader of the AI-enabled drug discovery and development space,” mentioned Chris Gibson, Ph.D., Co-Founder and CEO of Recursion. “With more than 10 clinical and preclinical programs in the internal pipeline, more than 10 partnered programs and over $450M in upfront and realized milestone payments received from partners to date out of more than $20B possible, we are advancing a flywheel of discovery and creating value in our pipeline through technology.”

“The combination of our platforms and people make us the company to beat,” mentioned David Hallett, Ph.D., former CSO and Interim CEO of Exscientia and newly appointed Chief Scientific Officer at Recursion. “With our combined strength of real-world proprietary data and the models we’ve created – hypothesizing, testing and learning in a continuous loop – we’re redefining the space by shrinking timelines and costs, identifying and optimizing lead candidates faster than traditional methods.”

The Company is happy to share updates on the mixed entity’s pipeline, partnerships, and platform under:

Pipeline

The mixed pipeline represents greater than 10 scientific and preclinical packages. In addition there are roughly 10 superior discovery packages within the present pipeline.

Updated steerage is bulleted under in addition to a snapshot of our pipeline:

Partnerships

The mixed firm’s therapeutic partnerships characterize greater than 10 partnered packages in areas resembling oncology and immunology. The mixed firm has obtained roughly $450M in upfront and milestone funds from partnerships up to now. Through these partnerships, we now have the potential to obtain greater than roughly $20B in further milestone funds earlier than royalties.

Recursion’s Partnership

Platform

With chemical design and synthesis strategies from Exscientia and over 60 petabytes of proprietary knowledge generated in home or licensed from companions like Helix and Tempus, the mixed entity will strengthen the Recursion OS to be a first-in-class and best-in-class drug discovery and growth platform.

The RecursionOS Platform

The RecursionOS Platform

The platform will proceed to drive iterative loops of hypotheses and lively studying all the way in which from analysis to growth, with the aim of ultimately creating digital cells that can permit the corporate to execute scientific trials at scale.

Company, Board, and Leadership Updates

The mixed firm could have roughly 800 staff with the headquarters remaining in Salt Lake City, and first workplaces in Toronto, Montreal, Milpitas, New York, the Oxford space, and London.

Individual board and government management modifications of Recursion, efficient as of November 20, 2024, are summarized under:

• Franziska Michor, a former member of the Board of Directors of Exscientia, was appointed as a Class II Director of the Board of Directors of Recursion, along with her preliminary time period to increase till the 2026 Annual Meeting of Stockholders of Recursion.
• Ben Taylor, former Chief Financial and Strategy Officer of Exscientia, was appointed because the Chief Financial Officer of the Company and President of Recursion UK.
• Dave Hallett, former Interim Chief Executive Officer of Exscientia, was appointed as Chief Scientific Officer of the Company.
• Kristen Rushton, Chief Business Operations Officer of the Company, was promoted to Chief Operating Officer of the Company.
• Matthew Kinn, Senior Vice President, Business Development and Corporate Initiatives of the Company was promoted to function Chief Business Officer of the Company.
• Lina Nilsson, Senior Vice President, Emerging Technologies of the Company, was promoted to serve on the chief group as Senior Vice President, Head of Platform of the Company.
• Michael Secora, Tina Marriott, and Laura Schaevitz will transition from their government roles into advisor roles for the mixed firm. All three have offered a few years of devoted service to the Company and we want to specific our heartfelt gratitude for every of them. Recursion wouldn’t be the place it’s at the moment with out their dedication and efforts.

Update Call Information

Recursion will host an replace name at the moment at 7:30 a.m. ET / 5:30 a.m. MT / 12:30 p.m. GMT. The Company will broadcast the dwell stream from Recursion’s X (previously Twitter), LinkedIn and YouTube accounts, and on Exscientia’s LinkedIn account. Questions will be submitted via this link forward of time or in the course of the livestream.

About Recursion
Recursion is a number one, clinical-stage TechBio firm decoding biology to industrialize drug discovery. Central to its mission is the Recursion Operating System (OS), a platform constructed throughout numerous applied sciences that repeatedly expands one of many world’s largest proprietary organic, chemical and patient-centric datasets. Recursion leverages refined machine-learning algorithms to distill from its dataset a group of trillions of searchable relationships throughout biology and chemistry unconstrained by human bias. By commanding huge experimental scale—as much as hundreds of thousands of moist lab experiments weekly—and big computational scale—proudly owning and working one of the highly effective supercomputers on the earth—Recursion is uniting expertise, biology, chemistry and patient-centric knowledge to advance the way forward for drugs.

Recursion is headquartered in Salt Lake City, the place it’s a founding member of BioHive, the Utah life sciences trade collective. Recursion additionally has different main workplaces in Toronto, Montreal, the San Francisco Bay Area, New York, the Oxford space, and London.

Recursion Investor Relations
investor@recursion.com

Recursion Media
media@recursion.com

Forward Looking Statements

Statements contained herein which aren’t historic information could also be thought of forward-looking statements below federal securities legal guidelines and could also be recognized by phrases resembling “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” or phrases of comparable that means and embrace, however are usually not restricted to, statements concerning the management place of the mixed firm and its affect on the trade; the power for the mixed enterprise to speed up the invention of higher options for sufferers; the timing of IND submissions and IND enabling research; the potential to obtain upfront, milestone, and royalty funds and work on over 60 therapeutic packages; the strengthening of the Recursion OS by the mixed firm; the continued studying of Recursion’s platform and the creation of digital cells to allow execution of scientific trials at scale; Recursion’s achievement of efficiencies; the continual enlargement of the Recursion OS datasets; and advancing the way forward for drugs; the outlook for Recursion’s future enterprise and monetary efficiency; and others. Such forward-looking statements are based mostly on the present beliefs of Recursion’s administration in addition to assumptions made by and knowledge at the moment obtainable to them, that are topic to inherent uncertainties, dangers and modifications in circumstances which can be tough to foretell. Actual outcomes and outcomes could range materially from these forward-looking statements based mostly on a wide range of dangers and uncertainties together with: the power of the mixed firm to retain key personnel; the power to appreciate the advantages of the mix, together with value synergies; the power to efficiently combine Exscientia’s enterprise with Recursion’s enterprise, in any respect or in a well timed method; the quantity of the prices, charges, bills and costs associated to the mix; the impact of financial, market or enterprise situations, together with competitors, regulatory approvals and commercializing drug candidates, or modifications in such situations, have on the mixed firm’s operations, income, money movement, working bills, worker hiring and retention, relationships with enterprise companions, the event or launch of expertise enabled drug discovery, and commercializing drug candidates; the dangers of conducting enterprise internationally; the affect of modifications in rates of interest by the Federal Reserve and different central banks; the affect of potential inflation, volatility in international foreign money change charges and provide chain disruptions; the power to take care of technology-enabled drug discovery within the biopharma trade; and dangers regarding the market worth of Recursion’s Class A typical inventory.

Other vital components and knowledge are contained in Recursion’s most up-to-date Annual Report on Form 10-Okay, together with the dangers summarized within the part entitled “Risk Factors,” Recursion’s subsequent Quarterly Reports on Form 10-Q, the joint definitive proxy assertion filed by Recursion and Exscientia on October 10, 2024, as amended by the supplemental disclosures filed by Recursion on November 6, 2024, and every of Recursion’s different filings with the U.S. Securities and Exchange Commission (the “SEC”), which will be accessed at https://ir.recursion.com, or www.sec.gov. All forward-looking statements are certified by these cautionary statements and apply solely as of the date they’re made. Recursion undertakes no obligation to replace any forward-looking assertion, whether or not because of new data, future occasions or in any other case.

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