Recursion Announces Collaboration and $50 Million Investment from NVIDIA to Accelerate Groundbreaking Foundation Models in AI-Enabled Drug Discovery
12 Julho 2023 - 9:30AM
Recursion (NASDAQ: RXRX), a leading clinical stage TechBio company
decoding biology to industrialize drug discovery, today announced a
$50 million investment by NVIDIA, which was executed as a private
investment in public equity (PIPE). Recursion also announced plans
to accelerate development of its AI foundation models for biology
and chemistry, which, in collaboration with NVIDIA, it intends to
optimize and distribute to biotechnology companies using NVIDIA
cloud services.
“Our collaboration with NVIDIA represents two best-in-class
companies coming together to help solve one of the world’s most
difficult challenges, drug discovery,” said Chris Gibson, Ph.D.,
Co-founder and CEO of Recursion. “With our powerful dataset and
NVIDIA’s accelerated computing capabilities, we intend to create
groundbreaking foundation models in biology and chemistry at a
scale unlike anything that has ever been released in the biological
space.”
Recursion plans to utilize its vast proprietary biological and
chemical dataset, which exceeds 23 petabytes and 3 trillion
searchable gene and compound relationships, to accelerate the
training of foundation models on NVIDIA DGX™ Cloud for possible
commercial license/release on BioNeMo, NVIDIA’s cloud service for
generative AI in drug discovery. NVIDIA will also help optimize and
scale Recursion foundation models leveraging the NVIDIA AI stack
and NVIDIA’s full-stack computing expertise. BioNeMo was announced
earlier this year as a cloud service for generative AI in drug
discovery, offering tools to quickly customize and deploy
domain-specific, state-of-the-art biomolecular models at-scale
through cloud APIs. Recursion anticipates using this software to
support its internal pipeline as well as its current and future
partners.
"Generative AI is a revolutionary tool to discover new medicines
and treatments,” said Jensen Huang, founder and CEO of NVIDIA. “We
are delighted to collaborate with Recursion’s world-class team,
which is doing pioneering work in digital biology and chemistry
with NVIDIA DGX and NVIDIA AI software to accelerate the
development of the world’s largest biomolecular generative AI
models and speed drug discovery for biotech and pharmaceutical
companies.”
Recursion, through its recent acquisition of Valence Discovery,
aims to accelerate the development of new technologies to feed the
biopharma industry, while simultaneously democratizing access to
large-scale models that have maximum impact in drug discovery.
About RecursionRecursion (NASDAQ: RXRX) 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.
Media ContactMedia@Recursion.com
Investor ContactInvestor@Recursion.com
Forward-Looking StatementsThis 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 the acceleration and advancement of development of AI
foundation models, as well as optimizing, licensing, and
distributing such models; using BioNeMo software to support
Recursion’s internal pipeline and well as Recursion’s current and
future industry partners; Recursion accelerating development of new
technologies through its Valence Discovery acquisition; 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; 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; inflation
and other macroeconomic issues; 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 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 Pharmaceuticals (NASDAQ:RXRX)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Recursion Pharmaceuticals (NASDAQ:RXRX)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024