Recursion Acquires Cyclica and Valence to Bolster Digital Chemistry and Generative AI
May 8, 2023
Recursion (NASDAQ: RXRX) entered into agreements to acquire two AI-enabled drug discovery companies, Cyclica (Toronto) and Valence (Montréal), for aggregate reported purchase prices of $40.0 million and $47.5 million respectively, payable primarily in Recursion equity and exchangeable subsidiary shares. The acquisitions add digital-chemistry, proteome-wide prediction and low-data generative chemistry capabilities to Recursion's RecursionOS and research organization to accelerate its AI-first drug discovery platform.
- Buyers
- Recursion
- Targets
- Cyclica, Valence
- Industry
- Biotechnology
- Location
- Canada
- Transaction Type
- Buyout
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