Recursion Pharmaceuticals

Recursion Pharmaceuticals (NASDAQ: RXRX) is a clinical-stage biosciences company industrialising drug discovery using an AI-native operating system that integrates biology, chemistry, and clinical development. Founded in 2013 at the University of Utah, Recursion completed the $688 million all-stock acquisition of Exscientia — Oxford's leading AI drug design company — in November 2024, creating the most comprehensive AI drug discovery platform in the industry, combining Recursion's 60+ petabytes of proprietary multimodal biological data with Exscientia's generative chemistry capabilities.

The merged company enters 2026 with five differentiated clinical programs and has received $450 million in upfront and milestone payments to date, with the potential for over $20 billion in additional milestone payments across its partnered programs. The Recursion OS maps biology at scale through automated cellular imaging and high-throughput perturbation experiments — the company has conducted over 50 billion cellular measurements — and uses this biological 'map' to identify drug-like relationships that human researchers would not find through conventional methods.

Key clinical programs include REC-3964 (C. difficile, Phase 2), REC-1245 (oncology, Phase 1), and REC-3565 (Phase 1), plus multiple advanced discovery programs inherited from Exscientia's AI-designed molecule portfolio.

Strategic partnerships with Nvidia, Roche, Bayer, and others validate the platform's industry recognition. The company is headquartered in Salt Lake City, Utah, with operations in Toronto and Oxford inherited from the Exscientia acquisition.