BioCentury
ARTICLE | Financial News

AI play Recursion raises $121M to expand into new drug discovery

July 15, 2019 11:27 PM UTC

Recursion’s $121 million series C round will allow the company to expand its artificial intelligence-based drug repurposing platform for rare diseases and develop capabilities for new drug discovery while pushing its pair of lead programs deeper into the clinic.

Led by Baillie Gifford’s Scottish Mortgage Investment Trust, the round by Recursion Pharmaceuticals Inc. (Salt Lake City, Utah) saw participation from new investors Intermountain Ventures, Regents of the University of Minnesota and Texas Tech University System. Undisclosed angel investors and all existing institutional investors, including Lux Capital, Data Collective, Mubadala Ventures, Two Sigma Ventures, Obvious Ventures, Felicis Ventures, Epic Ventures, Menlo Ventures, AME Cloud Ventures and CRV participated. Data Collective led Recursion’s $60 million series B round in 2017 (see "Repurposing Recursion")...