July 15, 2019
Recursion Pharmaceuticals, which uses artificial intelligence to try to discover drugs, has raised $121m in a round led by Baillie Gifford.
The Salt Lake City-based company is the latest drug discovery start-up to raise funds in the past year, as investors flock to the sector hoping that the costly and cumbersome process of finding a drug will be transformed by techniques such as machine learning and computer vision.
Unusually, Recursion is trying to make its own drugs for rare diseases, as well as partnering with large pharmaceutical companies Takeda and Sanofi on other rare diseases, and hoping to sign deals with pharma companies in areas such as oncology and inflammation.
Most other drug discovery start-ups work only through partnerships or sell their services to larger pharma companies.
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