Recursion announces $200 million oversubscribed follow-on offering

Recursion, a leading clinical-stage company pioneering AI-enabled drug discovery and development decoding biology to radically improve lives, today announced a $200 million underwritten offering of common stock with leading healthcare and institutional investors, including Janus Henderson Investors, Invus, Longaeva Partners, ARK Invest, Driehaus Capital Management and other prominent healthcare specialists and mutual funds, as well as business and clinical updates across its pipeline, including updated Phase 1b/2 data for REC-4881 in Familial Adenomatous Polyposis (FAP), promising early data in the Phase 1 DAHLIA trial for REC-1245, and a key milestone with Sanofi optioning a potential first-in-class immunology development candidate from their collaboration.

Najat Khan, Ph.D., President and Chief Executive Officer of Recursion, said:

Over the past 18 months, we've fundamentally transformed Recursion with a clear ambition: to repeatedly translate AI-driven discoveries into differentiated medicines for patients. And we're delivering. The proof points are stacking up — with REC-4881, we've demonstrated deep, durable reductions in precancerous polyps, particularly in the upper GI, where the unmet medical need is greatest, in a lifelong disease with no approved pharmacologic therapies. We're also seeing encouraging responses in heavily pretreated cancer patients with REC-1245, alongside continued validation of our platform through global pharma partnerships. Importantly, these are independent proof points emerging from the same integrated engine. This financing strengthens our ability to build on that momentum, advance our highest-conviction programs, deliver on upcoming clinical milestones, and build long-term value with focus and discipline.