AI pharmaceutical company Recursion raises US$300 million in IPO

On April 13, foreign media reported that Recursion Pharmaceuticals, an AI pharmaceutical company, will issue 18 million shares at a price of US$16 to US$18, and raise approximately US$306 million in IPO.

Baillie Gifford and Renaissance Capital plan to subscribe for approximately $125 million in shares in the IPO.

AI Pharmaceuticals has shown a hot trend in recent years, as can be seen from the financing history of Recursion Pharmaceuticals.

Recursion was founded in 2013, relying on its Recursion Operating System to quickly establish the world's leading biological and chemical database.

In September 2020, it reached a cooperation with Bayer on the development of small molecule compounds for the treatment of fibrotic diseases.

Currently, Recursion has 37 research projects, 4 of which are in phase 1 clinical trials, and are expected to enter phase 2 or 2/3 clinical trials in the next year or so.