20 days ago • Posted by William Ramstein

Recursion Pharmaceuticals raises $436 million in IPO

The company uses machine learning to hunt for new therapies. It sold 24 million shares yesterday for $18 a unit. Recursion reached a deal with Bayer AG in September to use AI to find new drugs for lung fibrosis and other fibrotic diseases. The deal included a $30 million upfront payment and $50 million in equity funding by Bayer’s investment arm.

Source: Yahoo