On August 8, 2024, Recursion Pharmaceuticals, Inc. (Recursion) entered into a definitive transaction agreement to acquire Exscientia plc, a drug design and development company. The agreement, subject to shareholder approval and regulatory sanctions, will see Exscientia shareholders receive 0.7729 shares of Recursion Class A common stock for each Exscientia ordinary share. Post-transaction, Recursion shareholders will own approximately 74% and Exscientia shareholders about 26% of the combined entity. The merger aims to create a technology-first, end-to-end drug discovery platform, leveraging Recursion's biology exploration and translational capabilities with Exscientia's precision chemistry design and automated synthesis capabilities. The combined company anticipates significant clinical trial readouts and potential milestone payments from existing pharma partnerships. The transaction is expected to close by early 2025, with...Show More

On August 8, 2024, Recursion Pharmaceuticals, Inc. (Recursion) entered into a definitive transaction agreement to acquire Exscientia plc, a drug design and development company. The agreement, subject to shareholder approval and regulatory sanctions, will see Exscientia shareholders receive 0.7729 shares of Recursion Class A common stock for each Exscientia ordinary share. Post-transaction, Recursion shareholders will own approximately 74% and Exscientia shareholders about 26% of the combined entity. The merger aims to create a technology-first, end-to-end drug discovery platform, leveraging Recursion's biology exploration and translational capabilities with Exscientia's precision chemistry design and automated synthesis capabilities. The combined company anticipates significant clinical trial readouts and potential milestone payments from existing pharma partnerships. The transaction is expected to close by early 2025, with the combined company to be named Recursion and headquartered in Salt Lake City, Utah. Chris Gibson, Ph.D., CEO of Recursion, will serve as CEO, and David Hallett, Ph.D., Interim CEO of Exscientia, will join as Chief Scientific Officer. The merger is anticipated to yield annual synergies of approximately $100 million, with a cash runway extending into 2027.