The series C for Utah-founded drug discovery platform creator Recursion included capital from University of Minnesota and Texas Tech University System.
Recursion Pharmaceuticals, a US-based biotech discovery platform and drug developer spun out of University of Utah, closed a $121m series C round yesterday featuring University of Minnesota and Texas Tech University System.
The round was led by investment firm Baillie Gifford’s Scottish Mortgage Investment Trust, and also featured Mubadala Ventures, the venture fund established by telecoms firm SoftBank and Abu Dhabi state investment firm Mubadala.
Venture firms Lux Capital, Data Collective (DCVC), and Obvious Ventures also took part in the transaction, as did Two Sigma Ventures, Felicis Ventures, Epic Ventures, Menlo Ventures, AME Cloud Ventures and CRV.
Founded in 2013, Recursion is developing biopharmaceutical therapies for rare diseases identified by using its artificial intelligence-driven drug discovery platform, which relies on an algorithm that matches genotypes and other disease-flags with specific indications.
Recursion’s in-house drug pipeline includes clinical-stage programs for cerebral cavernous malformation, where abnormal blood vessels…
