Recursion (NASDAQ: RXRX), a leading clinical stage TechBio company
decoding biology to industrialize drug discovery, today celebrated
the opening of its 28,000 square foot Toronto site, which will
serve as the headquarters for Recursion Canada. The new site
represents Recursion’s significant growth in Canada and its
continued investment in the local economy. In total, Recursion
currently employs approximately 100 highly skilled employees in
Canada, and the Toronto site is Recursion’s largest site outside of
its global headquarters in Salt Lake City, Utah.
"We are thrilled to officially open Recursion's Toronto office
and expand our presence in Canada," said Chris Gibson, Ph.D.,
Co-Founder and CEO of Recursion. "Toronto has long been recognized
as a center for cutting-edge technology, and our investment in this
vibrant city reflects our confidence in the immense potential of
the burgeoning TechBio sector to drive economic growth. We are
excited to collaborate with top talent in the region and accelerate
the discovery of new medicines that will radically improve
patients' lives."
“The world is placing big bets on Canada and we are open for
business! Recursion is a leading drug discovery company in the U.S.
and the launch of their new center in Toronto is a significant
development for the region's tech sector that will create good jobs
for Canadians,” said Sean Fraser, Minister of Immigration, Refugees
and Citizenship, Government of Canada.
“This investment has the potential to positively impact our
healthcare system and enhance access to cutting-edge biomedicine,
while deeply impacting countless lives in Ontario and beyond,” said
the Honourable Doug Ford, Premier of Ontario. “I am proud to
welcome Recursion to Ontario and look forward to collaborating with
all stakeholders to maximize the benefits for our community,
economy, and the future generations to come."
“Recursion’s decision to locate its Canadian headquarters in
Toronto will foster more innovation in our growing life sciences
sector,” said the Honourable Vic Fedeli, Ontario’s Minister of
Economic Development, Job Creation and Trade. “By pushing the
boundaries of technology, biology and chemistry, Recursion will
help provide transformative healthcare solutions to the people of
Toronto, Ontario and Canada. Thank you, Recursion, for choosing
Ontario.”
“Recursion’s Toronto office and Canadian headquarters attracts
top talent from across the globe, creating high-quality jobs and
career opportunities for skilled workers while nurturing a diverse
and inclusive workforce,” said Jennifer McKelvie, Deputy Mayor of
Toronto. “We welcome Recursion to Toronto, cementing our city’s
reputation as a world-class destination for progressive technology,
knowledge exchange, and drug discovery that affects the lives of
Canadians across the nation."
“The expansion of this company creates a ripple effect
throughout our ecosystem, igniting collaboration with research
institutions, universities, and startups in the Toronto Region,”
said Stephen Lund, CEO of Toronto Global. “At Toronto Global, our
team has always been advocating for more infrastructure for life
sciences companies looking to scale and innovate in the Toronto
Region. Thank you to Recursion for working so closely with our
Investment Attraction team during this incredible journey and we
look forward to supporting your future success.”
The opening of Recursion’s Toronto site closely follows the
company’s recent acquisitions of two leaders in AI-enabled drug
discovery: Cyclica, based in Toronto, and Valence, based in
Montréal. Both companies have developed cutting-edge machine
learning methods and models in the digital chemistry space, which
are highly complementary to Recursion’s capabilities, creating one
of the most complete, technology-enabled drug discovery solutions
in the biopharma industry.
In line with the company’s commitment to sustainability, the new
building is designed to meet the requirements of the Toronto Green
Standard. This includes intelligent energy, stormwater and waste
management systems, features to encourage sustainable commuting
options, and a green roof. The building’s architecture and design
were overseen by Baldwin & Franklin and Bennett Design,
respectively, and construction was completed by Cubecom Project
Management and Convex Construction.
About Recursion
Recursion is a clinical stage TechBio company leading the space
by decoding biology to industrialize drug discovery. Enabling its
mission is the Recursion OS, a platform built across diverse
technologies that continuously expands one of the world’s largest
proprietary biological and chemical datasets. Recursion leverages
sophisticated machine-learning algorithms to distill from its
dataset a collection of trillions of searchable relationships
across biology and chemistry unconstrained by human bias. By
commanding massive experimental scale — up to millions of wet lab
experiments weekly — and massive computational scale — owning and
operating one of the most powerful supercomputers in the world,
Recursion is uniting technology, biology and chemistry to advance
the future of medicine.
Recursion is headquartered in Salt Lake City, where it is a
founding member of BioHive, the Utah life sciences industry
collective. Recursion also has offices in Toronto, Montréal and the
San Francisco Bay Area. Learn more at www.Recursion.com, or connect
on Twitter and LinkedIn.
Forward-Looking Statements
This document contains information that includes or is based
upon "forward-looking statements" within the meaning of the
Securities Litigation Reform Act of 1995, including, without
limitation, those regarding early and late stage discovery,
preclinical, and clinical programs; licenses and collaborations;
prospective products and their potential future indications and
market opportunities; the Recursion OS and other technologies;
business and financial plans and performance; and all other
statements that are not historical facts. Forward-looking
statements may or may not include identifying words such as "plan,"
"will," "expect," "anticipate," "intend," "believe," "potential,"
"continue," and similar terms. These statements are subject to
known or unknown risks and uncertainties that could cause actual
results to differ materially from those expressed or implied in
such statements, including but not limited to: challenges inherent
in pharmaceutical research and development, including the timing
and results of preclinical and clinical programs, where the risk of
failure is high and failure can occur at any stage prior to or
after regulatory approval due to lack of sufficient efficacy,
safety considerations, or other factors; our ability to leverage
and enhance our drug discovery platform; our ability to obtain
financing for development activities and other corporate purposes;
the success of our collaboration activities; our ability to obtain
regulatory approval of, and ultimately commercialize, drug
candidates; the impact of the COVID-19 pandemic and force majeure
events; our ability to obtain, maintain, and enforce intellectual
property protections; cyberattacks or other disruptions to our
technology systems; our ability to attract, motivate, and retain
key employees and manage our growth; and other risks and
uncertainties such as those described under the heading "Risk
Factors" in our filings with the U.S. Securities and Exchange
Commission, including our most recent Quarterly Report on Form 10-Q
and our Annual Report on Form 10-K. All forward-looking statements
are based on management's current estimates, projections, and
assumptions, and Recursion undertakes no obligation to correct or
update any such statements, whether as a result of new information,
future developments, or otherwise, except to the extent required by
applicable law.
- Recursion Celebrates Opening of Its Canadian Headquarters in
Toronto with Government Officials and the Biotech Ecosystem
Media Contact
Media@Recursion.com
Investor Contact
Investor@Recursion.com
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