US based Recursion has raised US$ 239M in its Series D financing on 11 September 2020. Its total funding stands at US$ 465.4M.
The series D funding round was led by Leaps by Bayer, the impact investment arm of Bayer AG. Other participants in the round included some new investors, Casdin Capital, Catalio Capital Management, LP, Laurion Capital Management, Samsara BioCapital. Some of the existing investors, Baillie Gifford, Mubadala, DCVC, Lux Capital, Obvious Ventures, Felicis Ventures, EPIC Ventures, Two Sigma Ventures, Advantage Capital and Intermountain Ventures also participated.
The funding proceeds will be utilized to support the clinical development of Recursion’s therapeutic pipeline. Recursion will also continue to invest in development of its proprietary technology in order to make improvements in the steps of drug discovery process. These steps include generation of relatable datasets sufficient for creating broad maps of human biology, digital chemistry, predictive ADME/T and the digitization of in vivo studies.
Founded in 2013, Recursion Pharmaceuticals is a digital biology company that builds a wet-lab and machine learning platform. It combines experimental biology, AI and automation to discover treatments and identify them for any disease which can be modelled at the cellular level. The firm gathers rich data from high-throughput automated screens for a number of indications such as ageing, inflammation, infectious disease, and immunology. It is aggressively leveraging technology to build a robust and reliable map of human cellular biology. Their mission is to “decode biology to radically improve lives”.
Recursion Pharmaceuticals was founded by Blake Borgeson, Chris Gibson and Dean Li. It is headquartered in Salt Lake City, Utah.
“We have made significant progress since our last financing a year ago – doubling the number of clinical and preclinical programs in our pipeline, doubling the size of our proprietary database of cellular images and significantly expanding the capabilities of our deep-learning algorithms, as well as continuing to integrate new technologies at every step of the discovery process to create the first truly digitally-powered biotechnology company,” said Chris Gibson, co-founder and CEO of Recursion.
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