Bayer and US-based Recursion Pharmaceuticals, Inc., a clinical
stage TechBio company decoding biology to industrialize drug
discovery, today announced that they have updated the focus of
their research collaboration to precision oncology.
The oncology-focused collaboration will leverage Bayer’s small
molecule compound library and expertise in biology and medicinal
chemistry as well as Recursion’s purpose-built artificial
intelligence-guided drug discovery platform. This strategic shift
will enable Bayer to utilize Recursion’s capabilities to initiate
and advance the identification of novel therapeutic targets for
challenging oncology indications with high unmet need.
“The methodology in which Recursion uses artificial intelligence
(AI) in drug discovery, could be one of the most disruptive
technologies of our time,” said Juergen Eckhardt, M.D., Head of
Business Development, Licensing & Open Innovation,
Pharmaceuticals Division, Bayer AG, and Head of Leaps by Bayer. “As
our collaboration and the usage of AI continue to evolve, we look
forward to continuing to work with industry innovators to identify
novel targets for oncology indications."
Bayer’s strategic approach in oncology is based on precision
drug development which enables fast identification of the most
promising targets and commercially viable programs. The company is
continuously working to find new ways of treating cancer, so that
patients do not necessarily need to undergo life-changing and
invasive treatments. Artificial intelligence and the use of machine
learning methods allow the processing of enormous amounts of data -
including high-resolution imaging - and offers unprecedented
potential for the discovery of new drug candidates for cancer and
other complex diseases.
"Every cancer is different and requires an individual approach,"
said Dominik Ruettinger, M.D., Ph.D., Global Head of Research and
Early Development for Oncology, Pharmaceuticals Division, Bayer AG.
"At Bayer, we are committed to driving breakthrough innovations for
patients with diseases of high unmet medical need. Nearly half of
our entire pharma pipeline is dedicated to cancer therapies, and we
have a strong foundation to build on to bring these innovative
treatment approaches to patients.”
Recursion’s drug discovery platform navigates over five trillion
biological and chemical relationships within one of the world's
largest proprietary datasets. The system integrates scaled
'wet-lab' biology and chemistry data with computational tools,
using advanced machine learning technologies to industrialize drug
discovery by validating and advancing therapeutic programs
efficiently and with minimal bias. Their dataset, which includes
information from 50 different human cell types and a ~1.7 million
small molecule library, is supported by BioHive-1, a TOP500 ranked
supercomputer.
“We believe that the next generation of biopharma leaders will
operate at the convergence of rigorous science, scaled datasets and
accelerated computing,” said Chris Gibson, Ph.D., Co-founder and
CEO of Recursion. “Today, we are thrilled to announce the evolution
of our collaboration with Bayer, highlighting the flexibility and
broad-scale applicability of our platform, as we turn our focus
together on challenging targets in oncology with the goal of
bringing better medicines to patients more efficiently.”
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. Bayer will gain the option to
exclusively license novel therapeutics derived from the research
activities.
Leaps by Bayer, the impact investment arm of Bayer AG, led
Recursion’s Series D financing in 2020 with an investment of USD 50
million.
About BayerBayer is a global enterprise with
core competencies in the life science fields of health care and
nutrition. Its products and services are designed to help people
and the planet thrive by supporting efforts to master the major
challenges presented by a growing and aging global population.
Bayer is committed to driving sustainable development and
generating a positive impact with its businesses. At the same time,
the Group aims to increase its earning power and create value
through innovation and growth. The Bayer brand stands for trust,
reliability, and quality throughout the world. In fiscal 2022, the
Group employed around 101,000 people and had sales of 50.7 billion
euros. R&D expenses before special items amounted to 6.2
billion euros. For more information, go to www.bayer.com.
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. Learn more at www.Recursion.com, or connect on Twitter
and LinkedIn.
Forward-Looking Statements This release
may contain forward-looking statements based on current assumptions
and forecasts made by Bayer management. Various known and unknown
risks, uncertainties and other factors could lead to material
differences between the actual future results, financial situation,
development or performance of the company and the estimates given
here. These factors include those discussed in Bayer’s public
reports which are available on the Bayer website at www.bayer.com.
The company assumes no liability whatsoever to update these
forward-looking statements or to conform them to future events or
developments.
Additionally, 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 the outcomes and benefits expected from
the amended agreement between Bayer and Recursion. 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 those
described under the heading “Risk Factors” in Recursion’s filings
with the U.S. Securities and Exchange Commission, including the
most recent Quarterly Report on Form 10-Q and our Annual Report on
Form 10-K, available on Recursion’s website at www.recursion.com.
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.
Lisa Hennig
Bayer Media Contact
+49 1728693420
lisa.hennig@bayer.com
Ryan Kelly
Recursion Media Contact
+16104421896
ryan.kelly@recursion.com
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