The round was led by Baillie Gifford's flagship investment trust, Scottish Mortgage Investment Trust PLC, with participation by new institutional investors Intermountain Ventures, Regents of the University of Minnesota, Texas Tech University System, and select angel investors.
All prior institutional investors also participated in the round, including Lux Capital, Data Collective, Mubadala Ventures, Two Sigma Ventures, Obvious Ventures, Felicis Ventures, Epic Ventures, Menlo Ventures, AME Cloud Ventures, and CRV.
The new financing will support Recursion's continued build-out of its machine learning-enabled drug discovery platform alongside new capabilities designed to radically accelerate new chemical entity chemistry and predict safety pharmacology.
In addition, the company will continue to advance its growing pipeline of pre-clinical and clinical assets, including clinical-stage programs for cerebral cavernous malformation and neurofibromatosis type 2.
While Recursion plans to prioritize the advancement of treatments for rare diseases within its own pipeline, it will continue to forge strong partnerships with pharmaceutical companies in a variety of therapeutic areas, including immuno-oncology, oncology, aging, and inflammation.
Recursion is a clinical-stage biotechnology company combining experimental biology and automation with artificial intelligence in a massively parallel system to efficiently discover potential drugs for diverse indications, including genetic disease, inflammation, immunology, and infectious disease.
Recursion applies causative perturbations to human cells to generate disease models and associated biological image data.
Recursion's rich, relatable database of more than two petabytes of biological images generated in-house on the company's robotics platform enables advanced machine learning approaches to reveal drug candidates, mechanisms of action, and potential toxicity, with the eventual goal of decoding biology and advancing new therapeutics to radically improve lives.
BioSenic expands patent coverage for ATO therapeutic platform
PacBio unveils Nanobind PanDNA kit for enhanced DNA extraction solutions
Sequentify receives funding from Israel Innovation Authority
INOVIO plans BLA submission for INO-3107 as RRP treatment
ImmunityBio secures USD320m investment from Oberland Capital
Poolbeg Pharma prioritises promising RSV drug candidates identified through AI-led analysis
GHIT fund invests JPY500m in antimalarial drug clinical trial
AstraZeneca agrees acquisition of Icosavax
Versameb names new chairman of the board
Kling Bio appoints Dr Stefano Gullà as chief scientific officer
Oxford Biomedica to acquire ABL Europe
RedHill Biopharma granted five years' market exclusivity for Talicia by US FDA
SK bioscience signs development licensing agreement with Hilleman Laboratories
Poolbeg Pharma expands patent portfolio with Immunomodulator II approval in Japan
NeoImmuneTech's NT-I7 receives US FDA Orphan Drug Designation