Recursion Pharmaceuticals, Inc. (Recursion) has entered into a definitive agreement to combine with Exscientia plc (Exscientia), a UK-based AI-driven drug discovery company. The all-stock transaction, valued at $688 million, is expected to close by early 2025, subject to shareholder and regulatory approvals. The combined entity will operate under the Recursion name, with headquarters in Salt Lake City, and Recursion's CEO, Chris Gibson, will continue to lead the company. Exscientia's interim CEO and Chief Scientific Officer, Dave Hallett, will join as CSO. The merger aims to leverage Recursion's high-throughput biology and Exscientia's precision chemistry and AI drug design to accelerate drug discovery and development. The combined company anticipates approximately 10 clinical readouts in the next 18 months...Show More

Recursion Pharmaceuticals, Inc. (Recursion) has entered into a definitive agreement to combine with Exscientia plc (Exscientia), a UK-based AI-driven drug discovery company. The all-stock transaction, valued at $688 million, is expected to close by early 2025, subject to shareholder and regulatory approvals. The combined entity will operate under the Recursion name, with headquarters in Salt Lake City, and Recursion's CEO, Chris Gibson, will continue to lead the company. Exscientia's interim CEO and Chief Scientific Officer, Dave Hallett, will join as CSO. The merger aims to leverage Recursion's high-throughput biology and Exscientia's precision chemistry and AI drug design to accelerate drug discovery and development. The combined company anticipates approximately 10 clinical readouts in the next 18 months, with potential peak sales exceeding $1 billion for most programs. The partnership portfolio includes collaborations with major pharmaceutical companies such as Roche-Genentech, Sanofi, Bayer, and Merck KGaA, with potential milestone payments of approximately $200 million over the next 24 months and over $20 billion overall before royalties. The transaction will provide the combined entity with about $850 million in cash, extending its operational runway into 2027.