Recursion (NASDAQ: RXRX), a leading clinical stage TechBio
company decoding biology to industrialize drug discovery, today
announced two significant updates with their collaborators NVIDIA
and Bayer, and a new collaboration with Tempus Labs as it creates
infrastructure and expands its ambitions and scope in the precision
oncology space.
“Since our founding we have believed that the next generation of
biopharma leaders would operate at the intersection of scaled
datasets and accelerated computing,” said Chris Gibson, Ph.D.,
Co-founder and CEO of Recursion. “Today, we are thrilled to share
three major initiatives that support this belief and our mission to
bring better medicines to patients at speed and scale. With
Tempus’s 20 petabytes of fit-for-purpose precision oncology data,
NVIDIA’s support in quadrupling our supercomputing power to rapidly
and reliably advance the exploration and construction of large AI
models, and updating our collaboration with Bayer to rapidly pursue
a set of precision oncology programs, we will continue to drive the
transformation from BioTech to TechBio together.”
Tempus Collaboration Provides Recursion with Access to
Data Containing More Than 20 Petabytes of Proprietary
Patient-Centric Oncology Data
Recursion has come to an agreement with Tempus for preferred
access to one of the world’s largest proprietary, de-identified,
patient-centric oncology datasets, spanning DNA, RNA, health
records and more to support the discovery of potential
biomarker-enriched therapeutics at scale through the training of
causal AI models. By combining the forward genetics approach of
Tempus with the reverse genetics approach at Recursion, the company
believes it has an opportunity to improve the speed, precision and
scale of therapeutic development in oncology. As part of the
agreement, Recursion will pay Tempus up to $160M in cash or equity
over the next five years in exchange for continued and updated data
access and use rights for therapeutic development purposes.
“We share Recursion’s commitment to a data-first approach to
precision medicine,” said Eric Lefkofsky, Founder and CEO of
Tempus. “We look forward to working in tandem to leverage our
multi-modal data to uncover insights that have the potential to
advance personalized therapeutics for patients around the
world.”
In aggregate, Recursion will now have access to approximately 50
petabytes of proprietary data across biology and chemistry as well
as real-world, patient-centric data that is relatable and fit for
the purpose of training large-scale AI/ML models, which it plans to
use to drive novel therapeutic hypotheses, biomarker strategies,
and patient cohort selection.
Top 50 Supercomputer Powered by NVIDIA
To accelerate the impact of the proprietary data Recursion has
accumulated, the company has committed to substantially expanding
BioHive-1, its on-premise NVIDIA DGX SuperPOD-based supercomputer,
adding over 500 NVIDIA H100 Tensor Core GPUs to the more than 300
NVIDIA A100 Tensor Core GPUs already in place to increase its
computational capacity 4X. This greatly expanded compute power will
support the company’s pipeline, partnerships, and the construction
of one of the largest foundation models of its kind across multiple
modalities of biology and chemistry.
Based on the June 2023 TOP500 list, Recursion projects that upon
completion and benchmarking, BioHive-1 will likely be in the top 50
most powerful supercomputers in the world across any industry and
would be the most powerful supercomputer owned and operated by any
biopharma company. The company anticipates the enhancement of
BioHive-1 to be operational in the first half of 2024.
“A new era in drug discovery is here, and life science and drug
discovery companies are leading the way,” said Jensen Huang,
founder and CEO of NVIDIA. “Our ongoing collaboration with
Recursion will bring scaled biological data together with one of
the most powerful supercomputers to decode biology and get to
better medicines faster.”
Collaboration with Bayer in Precision Oncology
Programs
Recursion announced an updated collaboration with its
established partner, Bayer, for a select set of precision oncology
programs. This decision allows Bayer to leverage Recursion’s
state-of-the-art capabilities to identify novel targets and
chemistry applicable to oncology indications. Under the terms of
the agreement, the companies may initiate up to seven oncology
programs and Recursion is eligible to receive potential,
success-based, future payments of up to $1.5 billion plus royalties
on net sales.
“Our collaboration with Recursion is a testament to our
commitment to shape the future of healthcare, using advancements in
AI and drug discovery to push the boundaries of medicine with the
aim of providing innovative cancer therapies for patients whose
medical needs are not yet met by today’s treatment options,” said
Stefan Oelrich, Member of the Board of Bayer AG and President,
Pharmaceuticals.
About RecursionRecursion 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 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 outcomes and benefits expected from access to the
real-world multimodal data held at Tempus; outcomes and benefits of
deriving therapeutic hypotheses by linking molecular data and
outcomes data; outcomes and benefits of expanding our
supercomputer; early and late stage discovery, preclinical, and
clinical programs, including timelines for data readouts; licenses
and collaborations, including option exercises by partners and
additional partnerships; prospective products and their potential
future indications and market opportunities; Recursion OS and other
technologies; business and financial plans and performance,
including cash runway; 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,” “could,” “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 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.
Media ContactMedia@Recursion.com
Investor ContactInvestor@Recursion.com
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