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Rallybio to sell interest in REV102 to Recursion Pharmaceuticals for up to $25M

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Rallybio (RLYB) announced that it has entered into a definitive agreement to sell its interest in REV102, an ENPP1 inhibitor in preclinical development for the treatment of patients with hypophosphatasia, to joint venture partner Recursion Pharmaceuticals (RXRX) for up to $25M, including an upfront equity payment of $7.5M and near term milestones. With the upfront payment, Rallybio expects its cash runway to extend into mid-2027.

Source
Yahoo Finance

The year’s biggest biotech haul shows investors are still chasing the AI dream

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After a few years of booming interest in AI platforms, the rubber has hit the road. Now, the market is watching closely to see if drugs discovered with the new tech will pan out in the clinic — and are still worth backing.

Source
Pharma Voice

AI deals are surging, and Recursion’s ongoing Exscientia merger points to a new world of integration

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Recursion Pharmaceuticals teamed up with AI biotech Exscientia last year in a deal worth almost $700 million. The matchup marked the biggest life sciences AI merger to date and comes amid a “surge in AI partnerships and acquisitions in the past five years [that] signals the opportunities the technology offers to life sciences companies,” according to an EY report. 

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Pharma Voice

3 Cutting-Edge Biotech Stocks That Are Riding the AI Wave Like None Other

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  • Recursion Pharmaceuticals just got Nvidia on board with its vision of AI for R&D.
  • Ginkgo Bioworks is pairing AI with laboratory robotics to streamline R&D, too.
  • Schrödinger aims to use physics-based modeling with AI for superior results.
Source
Motley Fool

Roche Signs Machine-Learning Neuroscience Deal With Recursion

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Roche Holding AG sealed a decade-long collaboration deal with U.S. biotech Recursion Pharmaceuticals Inc. to use machine learning to search out potential drugs for neuroscience and cancer.

The deal allows for as many as 40 experimental programs to emerge from the Recursion technology, part of a broader Roche effort to invest in platforms that can underpin an array of medicines, said James Sabry, Roche’s head of partnering. The Swiss drugs giant will pay Recursion $150 million upfront, plus royalties and development, commercialization and revenue milestones that could exceed $300 million for each project.

Source
Bloomberg

Recursion, targeting cancer, rare disease midstage tests, sets terms for $306M IPO

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Recursion Pharmaceuticals has set terms for a major $306 million IPO as the artificial intelligence biotech eyes a $3 billion valuation.

Source
Fierce Biotech

Recursion will take its AI platform public in latest IPO filing, while rare heart mutation biotech jumps on SPAC train

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The IPO market continues to churn, with a prominent AI drug developer becoming the latest biotech to register with the SEC.

Recursion Pharmaceuticals filed its S-1 paperwork late Monday, coming about six months after completing a $239 million Series D round and securing a deal with Bayer worth up to $1 billion. The Salt Lake City-based biotech is penciling in a $100 million IPO raise for now, but could have its sights set on a much higher figure.

Source
Endpoints

Billing itself as the first AI biotech to launch human trials, Recursion adds $121M C round

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Billing itself as the first AI biotech with programs in the clinic, Salt Lake City-based Recursion now has a $121 million bankroll to start gathering human data to see if it’s on the right track. 

Source
Endpoints