AI-enabled biotechs Recursion and Exscientia to merge
US AI-enabled biotech Recursion (Nasdaq: RXRX) and UK-based Exscientia (Nasdaq: EXAI) today announced the companies have entered into a definitive merger agreement.
Exscientia shares leapt 18% to $5.24 while Recursion stock added a more modest rise of 5.4% to $6.71 on the news.
In an all-stock transaction reportedly valued at $688 million, the new company will bring together Recursion’s scaled biology exploration and translational capabilities with Exscientia’s precision chemistry design and small molecule automated synthesis capabilities to create a leading technology-first, end-to-end drug discovery platform, with a commitment to create more effective medicines for patients, faster.
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