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…

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