Recursion Pharmaceuticals raises $146.4 million in private placement led by Kinnevik AB

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The company has raised $146.4 million in a private placement led by Kinnevik AB, valuing the company at $146.4 million. The funds will be used to accelerate the company’s drug discovery programs and expand its operations. Recursion ($NASDAQ:RXRX) is using artificial intelligence and high-throughput molecular screening to discover new treatments for disease. The company has already made significant progress in identifying potential new treatments for several diseases, including cancer and Alzheimer’s disease.

The $146.4 million investment from Kinnevik AB will allow Recursion to accelerate its drug discovery programs and expand its operations. This will enable the company to bring new treatments to market faster, and help more people suffering from disease.

Market Price

The company said that the funds will be used for research and development, as well as for general corporate purposes. Recursion Pharmaceuticals is headquartered in Salt Lake City, Utah.

VI Analysis

Recursion Pharmaceuticals is a medium risk investment in terms of financial and business aspects, according to the VI Risk Rating. The company’s fundamentals reflect its long term potential. However, there are 2 risk warnings in the cashflow statement and financial journal that investors should be aware of. Registering with VI App will allow access to these warnings and more detailed analysis.

VI Peers

The company was founded in 2013 by Christopher R. Gibson and Brendan Frey. Vor Biopharma Inc, EQRx Inc, and Lantern Pharma Inc are all competitors of Recursion Pharmaceuticals Inc.

– Vor Biopharma Inc ($NASDAQ:VOR)

Vor Biopharma Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for patients with serious and life-threatening diseases. The company’s lead product candidate is VOR51, a first-in-class immunotherapy for the treatment of solid tumors. Vor Biopharma is also developing VOR33, a novel immunotherapy for the treatment of hematologic malignancies, and VOR19, a novel immunotherapy for the treatment of autoimmune diseases.

– EQRx Inc ($NASDAQ:EQRX)

EQRx is a biopharmaceutical company that focuses on the development of innovative therapies for patients with serious diseases. The company has a market cap of $2.42 billion and a return on equity of -12.39%. EQRx is headquartered in Cambridge, Massachusetts.

– Lantern Pharma Inc ($NASDAQ:LTRN)

Lantern Pharma Inc has a market cap of 46.57M as of 2022. The company’s return on equity is 16.74%.

Lantern Pharma Inc is a clinical stage biopharmaceutical company specializing in the development of precision medicines for the treatment of cancer. The company’s lead product candidate, LP-100, is a novel targeted therapy in development for the treatment of non-small cell lung cancer.

Summary

Kinnevik AB, a Swedish investment firm, led a private placement of $146.4 million in RECURSION PHARMACEUTICALS, a U.S.-based biotechnology company. The investment will be used to fund RECURSION PHARMACEUTICALS’ ongoing research and development efforts. RECURSION PHARMACEUTICALS is a biotechnology company that specializes in the development of drugs to treat rare diseases. The company has developed a platform that allows it to screen large numbers of compounds in search of those that may be effective treatments for rare diseases. To date, RECURSION PHARMACEUTICALS has discovered several potential new treatments for rare diseases, and is currently in the process of testing them in clinical trials.

The investment from Kinnevik AB will allow RECURSION PHARMACEUTICALS to continue its work in developing new treatments for rare diseases. This is an important step forward in the fight against these diseases, which often go untreated due to a lack of funding for research and development. With this new investment, RECURSION PHARMACEUTICALS is one step closer to bringing new treatments to patients who need them.