University of Utah's drug discovery technology producer has raised series D funding to increase its post-money valuation to some $1.2bn.
Recursion, a US-based drug discovery technology spinout of University of Utah, raised $239m in a series D round led by pharmaceutical and agricultural product manufacturer Bayer yesterday.
Casdin Capital, Catalio Capital Management, Laurion Capital Management and Samsara BioCapital also took part in the round, which valued Recursion just below $1bn pre-money, a person with knowledge of the matter told The Information.
Intermountain Ventures, care provider Intermountain Healthcare’s investment unit, as well as Baillie Gifford, Mubadala Investment, DCVC, Lux Capital, Obvious Ventures, Felicis Ventures, Epic Ventures, Advantage Capital and Two Sigma Ventures filled out the round.
Recursion is combining automation and machine learning technology with what it claims is the largest biological image dataset in the world to discover drug treatments for a range of conditions including cancer and genetic disorders such as neurofibromatosis or GM2 gangliosidosis.
Bayer’s investment was made in connection with a strategic partnership…
