Company Profile
Recursion Pharmaceuticals
— A TechBio company that captures cell images at scale in automated laboratories and uses AI to find clues for new medicines
Recursion headquartered in Salt Lake City, UtahClinical stage AI drug discovery companyComment We rotate more than 2 million experiments per week in an automated laboratory, analyze large amounts of data such as cell images with AI, and produce target and candidate compounds for drugs. In November 2024, we merged with Exscientia, an AI drug company in the UK. No approved products for the year ending December 2025Net loss of $64 millionHome Over $500 million in advance payment and milestone in partnership withanotechntech and Sanofi. Our most advanced REC-4881 (family colorectal adenoma) discusses the way to apply for approval with the U.S. FDA. In this article, this company isWhat to do with AI drug discovery and what to doWe only use legal disclosure to US SEC.
- Recurrence in 30 seconds and standing position in drug discovery and DDS
- About logo and company name
- Where is this company in the world of drug discovery and DDS?
- Company size (sales only tie-up income) Cash
- Drug discovery and DDS resources
- Past Initiatives
- Future plans
- What is DDS?
- Collaboration mapping of drug discovery and DDS
- Technologies, Products and Services
- The risk of this company
- Glossary/Source/Ins ment and Source Response Table
1. Recurrence in 30 seconds and standing position in drug discovery and DDS
Pharmaceuticals, Inc.November 2013 Brand Name: Recursion
Salt Lake City41 S Rio Grande Street
(AI Drug))No approved products
1b/2 phasefamily colony. FDA and Registration
Businesses related to drug discovery and DDS are largePharmaceutical Company / Biotech / Contract Development Manufacturing (CDMO・CRO)3 types. RecursionDrug discovery biotechIt is a method that makes AI drug discovery sign, and features areMaking data with your own experimental equipmentContact Us FactsHome According to 10-K in an automated high throughput laboratoryMore than 2 million tests per weekWe accumulate cell microscopy (omics), transcription products, proteins and compounds. Our supercomputer in cooperation with NVIDIA to learn AI with this dataBioHive-2Also built. "A company that makes AI software" is not a company that can leave experiments to CRO,Have both experimental plants and calculators yourselfIt is the position of this company.
2. Logo and company name
Recursion trademark In this article, we do not reproduce the generated image,
Images posted on the official websiteHome img/recursion_logo.svg Contact Us
Note: The company name on legal disclosure is Recursion Pharmaceuticals, Inc. However, the company itself is simply announced Recursion Name “TechBio” In Japanese, it is written as "Recursion". Exscientia, which was integrated in 2024, is currently part of Recursion and is not independent.
Official Site:https://www.recursion.com/3. Where is this company in the world of drug discovery and DDS?
TypeDrug discovery biotechThe modalities of our productsOral LowHome FactsHome However, REC-1245 targeting RBM39 is positioned as “degrader” and degrades protein with low、s.Targeted protein decompositionWe also incorporate the idea of Our main focus is cancer, rare disease, and partnerships spread to cancer, nerve, and immune system. The related basics are handled by the technical commentary "AI drug discovery and screening" and "target protein decomposition".
4. Company size (sales only tie-up income) Cash
Figures are based on the 10-K, 10-Q, and earnings reports submitted to the U.S. SEC. Unit: $1,000. Facts。
| Index ($1,000) | FY2023 | FY2024 | FY2025 | January to June 2026 |
|---|---|---|---|---|
| Sales (Partnership and Grant) | 44,575 | 58,839 | 74,681 | 14,143 |
| R&D expenses | 241,226 | 314,421 | 475,271 | 177,510 |
| General administrative expenses | 110,822 | 178,184 | 176,589 | 76,124 |
| Net Loss | 328,066 | 463,661 | 644,759 | 131,000 in quarters (April to June) |
| Cash outflow through business activities | 287,780 | 359,174 | 371,808 | ― |
| December 31, 2025 | June 30, 2026 | |
|---|---|---|
| Cash, equivalents, binding deposits | US$7,953 | US$656 |
| Accumulated red | ― | $23 billion |
| 2026 cash-based operating expenses forecast | Less than US$37,500 (deducted from US$39,000 in August 2026) | |
| Funding | Without additional procurementEarly 2028(Company Outlook) | |
2025 R&D expenses increased 1.5 times from the previous year, November 2024Exscientia integration increased organizationIncludes impact. June 2025Save 20% of employeesWe narrowed down the development of three clinical stages. FactsHome Sales are not sales of productsResearch income from partnersSo, 10-K writes, “The time of revenue is not directly compatible with the time of receiving cash.” moreHow to reduce funds and cashIt will be a clue to reading the company's ability.
5. Drug discovery and DDS resources
| Resource Types | ||
|---|---|---|
| Person | Under 600Home About 35% of life scientists (chemists, biologists, etc.), about 43% of data scientists and software engineers (December 2025-10K) | Facts |
| People (experiment base) | Salt Lake City(Head office) biological scaffolding lab. Phenomics and transcription data) and UKMillton Park(about 20,000 square feet) Chemical studio Automation Studio) | Facts |
| People (Other locations) | Londonence Cross, New York, Montreal | Facts |
| Gold (R&D expenses) | FY2025 ¥47,527 millionHome First term of 2026 1,7751 million | Facts |
| Gold (Investment) | Acquisition of tangible fixed assets $647 million in 2025 ($13.7 million in 2024). After integration, we will organize the former Exscientia base | Facts |
| Resource | In-house supercomputer built in cooperation with NVIDIA BioHive-2 | Facts |
| Acquisition and Investment | Exscientiarate (November 2024). ENd the remaining 50% of the joint venture of ENPP1 in)tors from RallyBio (July 2025) | Facts |
| License | REC-4881Takeda Pharmaceutical2020 of TAK-733 (May 2020). Received a multi-layer data license from Tempus (revised in November 2023, September 2026) | Facts |
| University and Public Funds | 10-K is a risk that some intellectual property may be born from the study of the U.S. government. Received US$2,860 in 2025 as a UK R&D tax deduction (second quarter). Joint research agreement with individual universities is not included in the source of this article | Facts |
10-K is a chemical automation studio in Milton Park.Synthesize and test over 1,000 compounds"The type of reaction that can be performed by automation in 2025 is 4 times, and it usually contains 14 types of reactions that are not automated." FactsHome Also at the stage of designAccessibility of raw materials (building blocks) and logistics of multiple CROsWe have created a design that is focused on synthesis, which proposes the cheapest route. From the position of the material, this is the speed of AI drug discoverySyn and refining instead of calculationIt is that the company has been admitted and hitting the hand. Determines the cycle from design to testing to how long it can be entrusted to the machine, such as non-uniform contact reactions, porous moisture management reactions, and solid handling.
Another material isCellsComment Nerve maps made in partnership with RochentechOver 1 trillion iPS cell-derived neuronsThe company explains that the map of Mikulogria is made from over 10 billion iPS cells. Stable use of consumables such as medium and culture containers at industrial scale depends on the quality of data. The specific name of the medium or material used is not disclosed Undetermined / Future。
6. Past Initiatives
| Time | Home | |
|---|---|---|
| November 2013 | Image with cell image and AI | |
| May 2020 | Takeda introduced TAK-733 (REC-4881)Home In collaboration with Takeda, I found a compound that returns the expression type of cells that have lost the function of the APC gene. | Platform for the use of our platform |
| January 2022 | Partner with Rochentech(prepaid $150 million)SanofiPartner | Joint research from major discoveries |
| November 2023 | License Agreement for Tempus and Data | Use multilayer data for clinical development |
| September 2024 | Maptech accepts neuron maps ($30 million) | Data itself became income |
| November 2024 | Integration with Exscientia | Compound design and chemical automation capability |
| May to June 2025 | 3 clinical products (REC-2282, REC-994, REC-3964) Save 20% of employees | Research and concentration |
| October 2025 | Chemitech accepts maps of Mikulogria ($30 million) | ― |
| December 2025 | REC-4881 1b/2 phase (TUPELO) enlarged data is published | The company positioned as "First Clinical Verification of Recursion OS" |
| March to April 2026 | Dr. Vi・ Goodman, Chief Medical Officer Founder Chris Gibson resigned and served as advisor (CEO Najat Khan) | Management Generation |
| August 2026 | Genentech exercises the first target option in the nervous area to initial search for low。s. REC-7735 | First example of a target from a map |
| September 2026 | Revised the contract with Tempus, the company’s RNA base model (TxFM) is a non-exclusive license in the cancer area ($12 million). | First example of putting AI model itself outside |
Main Clinical Trials
| Test | Phase | Main evaluation items | Results published (in comparison contrast and evaluation) |
|---|---|---|---|
| TUPELO（REC-4881、NCT05552755） | 1b/2 phase. Families with colonoma (FAP) | The first part is in the body, the second part is safety and the change rate of polyp volume | Single-arm trial without comparison contrastHome A population of 12-week doses + 12-week doses, a decrease in the median value of the polyp amount43% as of 13 weeksAfter ing53% as of 25 weeksHome H dous events are mainly mild and disco ed by 4 people. The number of people to be analyzed is not specified in 10-K |
| ELUCIDATE（REC-617） | Phase 2 Prog ive solid cancer (CDK7 in tor) | Dosage gradual | A partial response confirmed to one of the ovarian cancer with 29 single-agents of ready-made treatment (November 2025).No comparison contrast |
The result is the disclosure of the company.This article does not recommend the choice of treatmentHome These are unapproved items, resulting in the initial trial of a single group. Undetermined / FutureHome The company explains that the market size is over $100 billion, but this is the number of market estimates and is not adopted in this article.
7. Future plans
Updated in late 2026FDA consultations start in the first half of 2026
Started in late 2026PI3Kα H1047R IND acquired
Less than $35 millionReduced in August 2026
| Products | Profile | Stage (as of September 2026) | The following sections of the company |
|---|---|---|---|
| REC-4881 | MEK1/2 inhibition (oral, arosteric). FDA Rare Disease Drugs and Fast Track Designation | Developed (1b/2 phase) | Additional data will be announced at November 2026 Undetermined / Future |
| REC-7735 | 100 times more selectivity to PI3Kα H1047R variant | IND acquisition, Phase 1/2 (ZINNIA) preparation | Started testing in late 2026 Undetermined / Future |
| REC-1245 | RBM39 Decomposition Inductor | Developed (1st phase) | Dosage gradual data late 2026 Undetermined / Future |
| REC-617 | CDK7 Inhibition (Non-shared binding type) | Developed (2nd phase) | Safety and internal data Undetermined / Future |
| REC-3565／REC-4539 | MALT1 Inhibition / LSD1 Inhibition | Developed (1st phase) | Initial data in 2027 Undetermined / Future |
| Partner (Sanofi) | Low s of immunity and cancer | Search Stage | Possibilities of milestones for development candidates in the future 6-12 months Undetermined / Future |
10-K・10-Q・8-K Undetermined / Future。
REC-4881Application PeriodDesign / TUPELO for registration test required by FDANumber of analyses(Dec. 2025)/ Bayer and Merck KGaAments and Prog/Automation LabBreakdown of processing capacityHome In addition, 10-K is said to be ‘reaching candidates with fewer compounds than industry averages,’ but this article does not include the source of industry averages that are based on comparison.
8. What is this company aiming for drug discovery and DDS?
This includes parts that the company does not directly state.Calculation in the range that can be read from primary informationand write with the basis.
| Read | Primary Information | |
|---|---|---|
| FirstClinical demonstration in one itemPrioritize getting | REC-4881 is called "First Clinical Verification of Recursion OS" and the first section of the discussion and registration with the FDA | Facts |
| Assets that sell data itselfStarted to treat | The company pays $30 million every time a cell map is created, and in September 2026, the RNA base model was licensed to Tempus. | |
| Laboratory roleFrom the place to make data to the place to see AI predictionsMoving | The 10-K states, 'The role of a wet lab is transferred to a large-scale verification of models led by the model from the place where mainly data is born.' | Facts |
| We do not have our own sales network.Select partner for late development and salesPossible | 10-K said, “There is no ability to sell, market, or distribute,” and “It is possible to commercialize it alone or with partners.” Financial forecasts until early 2028 | |
| In design"Effective variants that want to be effective"Focus on things | REC-7735 has more than 100 times the mutator, and aims to avoid normal type and avoid revitalization with high blood sugar. |
In partnership with Rochentech, Recursion is not a compoundDelivery of PhenomapHome $30 million (September 2024) on the map of the neurons, and $30 million (October 2025) on the map of Mikulogria. As of August 2026, the total amount of affiliates reached $216 million. FactsHome In August 2026, tech began exploring low- targets by exercising the area found on the map. In September 2026, Tempus licenses its own RNA base model for $12 million. RecursionNot only drug candidates but also data and modelsRead when you are moving Undetermined / FutureHome However, the price of data and models is small if the drug is approved, and the future of the company is still a clinical product.
9. Collaboration mapping of drug discovery and DDS
10. Technologies, Products and Services
No approved drugs FactsHome The core of the company connects global environment, chemical and clinical developmentRecursion OSThis system is used for both research and pipelines for partners.
| s | 10-K · Accounting Release Description |
|---|---|
| Data generation | More than 2 million tests per week in automated high throughput labs. Phenomics, chemical , transfer products, protein, ADMET, genome, and patient data of cells with a view microscope |
| Cell map (Phenomap) | A map of the relationship between genes and expressions by taking images of cells that have lost their genes one by one. Builds all genome CRISPR knockout maps of neurons and mikulogria |
| Chemical design and | Design compounds by generating AI and active learning. Prediction of active, selective, and ADMET by Boltz-2, which has been adjusted independently, and combined with calculation of dynamics and quantum mechanics. Synthesis is transferred to an internal automation studio or a dedicated CRO. |
| Example of design speed | REC-617 is 136 compounds and less than 11 months, REC-7735 has reached development candidates for 242 compounds and 10 months from the first hit (both company disclosure) |
| ClinTech | Facility information, patient data (about 300 million people, about 1 million minutes with molecular profiles), support design and operation of trials with cause inference and simulation. |
| Calculator | Learn models with the Supercomputer BioHive-2 built with NVIDIA |
In DDS, all of our products are oral low。s and are not used for carriers such as lipid nanoparticles and antibodies. Instead, REC-617 explains that “Non-shared binding type has improved ADME and body efficiencies for fast absorption.” How to reach the body with the physical properties of sDesign Facts。
11. Risks that this company has
| Risks | ||
|---|---|---|
| Decrease in red letters and funds | Net loss is $3.3 billion, $4.6 billion and $6.4 billion in 2023 to 2025. Cash is about $200 million in half a year. | Facts |
| No approved products | The most advanced REC-4881 is also the first b/2 phase of a single group. Registration test design in consultation with FDA | Facts |
| Dependency on partner | 10-K, Bayer・Roche/Genentech・Merck KGaA・Sanofi | Facts |
| Impact of Personnel Reduction | About 20% reduction in June 2025 | Facts |
| Integrated post-processing | Oxford of former Exscientia bases (Oxford, Vienna, Boston) continued in 2026. | Facts |
| Data Business Scope | Map and model price ($30 million, $12 million) is smaller than annual research and development costs ($47,527 million) |
12. Glossary
- Fenomics
- Comprehensive measurement of cell shape and state (expressive type) with images. Recursion analyzes a large number of microscope images.
- Phenomap
- A map showing the relationship between genes and cells created by Recursion.
- CRISPR knockout
- Edit specific genes with genome editing. When all genes are added one by one, it becomes a map of "all genomes".
- iPS cells
- Cells such as neurons that have been differentiated from iPS cells. Can be made stable in large quantities.
- Degrader
- A small molecule that breaks the target protein into a cell decomposition mechanism.
- Families with colonoma (FAP)
- Hereditary disease that can be multiple polyps in the colorect due to mutations of APC genes.
- ADMET
- Absorption, distribution, metabolism and toxicity. The generic term of the nature that indicates how the drug acts in the body.
- Form 10-K／10-Q
- Annual reports and quarterly reports submitted by U.S. listed companies to SEC.
Concept diagram of AI generation13. Source
- Recursion Pharmaceuticals, Inc. Form 10K for the year ended December 31, 2025 Business, Recursion OS, Pipeline, TUPELO・ELUCI partnership, affiliates (Roche/Genentech/Sanofi/Bayer/Merck KGaA), Takeda Pharmaceuticals, Tempus・RallyBio・Exscientia, personnel, bases, sales, R&D, net loss, cash, personnel reduction, risk. https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm
- Recursion Pharmaceuticals, Inc. Form 10-Q for the quarterly period ended June 30, 2026 Accumulated deficit, partner accounting. https://www.sec.gov/Archives/edgar/data/1601830/000160183026000098/rxrx-20260630.htm
- Recursion Pharmaceuticals, Inc. Consolidated Financial Results for the Second Quarter of the Fiscal Year Ended March 31, 2019 (Submitted August 5, 2019) Genentech’s optional exercise, tie-up receipt, REC-4881 and REC-7735 status, upstream finance, cash outlook, and 2026 cost outlook. https://www.sec.gov/Archives/edgar/data/1601830/000160183026000097/exhibit991-q0226.htm
- Recursion Pharmaceuticals, Inc. Form 8-K (US SEC submission, September 21, 2026) September 15, 2026 Contract revision with Tempus and license of RNA Base Model (TxFM). https://www.sec.gov/Archives/edgar/data/1601830/000160183026000112/rxrx-20260915.htm
- Recursion Pharmaceuticals, Inc. "Recursion Announces Vicki Goodman, M.D., as Incoming Chief Medical Officer" (Form 8-K attachment, March 25, 2026). https://www.sec.gov/Archives/edgar/data/1601830/000160183026000054/exhibit991-pr.htm
- Recursion Pharmaceuticals, Inc. Press Release “Recursion Announces Board Transition” (Form 8-K attachment, April 30, 2026). Director and CEO of the founder. https://www.sec.gov/Archives/edgar/data/1601830/000160183026000064/exhibit991-pr43026.htm
- ClinicalTrials.gov NCT05552755 (REC-4881 TUPELO test, 1/2 phase). https://clinicaltrials.gov/study/NCT05552755
- Recursion Official website (name and logo) https://www.recursion.com/
14. Response table of claims and sources
| Content | ||
|---|---|---|
| Formal name, established in November 2013, head office location, listed market, base | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm |
| Sales, R&D, general management, net loss, sales cash outflow, capital investment, cash at the end of 2025 | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm |
| Sales, R&D, general management costs, net loss for the second quarter, cash for the end of June, forecast until the beginning of 2028, and cost forecast for 2026 | Facts | Source 3 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000097/exhibit991-q0226.htm |
| Accumulated deficit $23 billion (as of June 2026) | Facts | Source 2 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000098/rxrx-20260630.htm |
| Reduced by 20% in June, 2025, 3 clinical items | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm |
| More than 2 million tests per week, data types, BioHive-2, Milton Park's chemical automation, design, Boltz-2, ClinTech. | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm |
| Partnered withanontech (prepaid $150 million, $30 million) and partnered with Sanofi, Bayer, Merck KGaA | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm |
| Genentech’s first-target option, receives $216 million, $23 million, up to $40 and 15 cells from iPS cells | Facts | Source 3・1 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000097/exhibit991-q0226.htm |
| Drug TAK-733 (REC-4881) from Takeda Pharmaceutical (May 2020), integrated with Exscientia and obtained joint venture from RallyBio. | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm |
| Contract revision with Tempus and TxFM license ($12 million) | Facts | Source 4 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000112/rxrx-20260915.htm |
| Initial data of TUPELO results (13 weeks 43%, 25 weeks 53%, disco ed 4 persons) and REC-617 | Facts | Source 1・7 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm |
| REC-4881 specification and FDA consultation, REC-7735 IND acquisition and design (242 compounds and 10 months), future milestone | Facts | Source 3 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000097/exhibit991-q0226.htm |
| Resigned to the Director of Chief Medical Officer and Founder | Facts | Source 5・6 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000064/exhibit991-pr43026.htm |
| Drug discovery and DDS classification (pharmaceu company / drug discovery biotech / contract development manufacturing and research) | The calculation of this paper | This article. Company name is an example of a company handled by this series. |
| Compared to the market size of FAP (over $100 billion) and the number of compounds with industry fewer than the industry average. | Undetermined / Future | The description of the source 1 and 3 is not adopted in this article for comparison of market estimates and unknown sources |
| REC-4881 Approval Application Period, TUPELO Analysis Number, Bayer/Merck KGaA Price Conditions, Material Name | Undetermined / Future | Not specified in the source 1-6 https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm |
| Read that it began to treat as an asset that sells data itself | Interpre of this paper from the price of the map and model of Source 1・3・4 | |
| Read that late development and sales are likely to choose partners | Description of commercialization of source 1 and interpretation of this paper from the perspective of funds | |
| Reading that emphasizes mutator selectivity | Interpre of this article from the description of REC-7735 of Source 3 | |
| Risks that data business scale is smaller than R&D costs | Compared to the amount of source 1 and 4 |
Last Updated:September 26, 2026/Troy Technical
All of the figures in this article are based on legal disclosure documents submitted by Recursion Pharmaceuticals, Inc. (SEC) and ClinicalTrials.gov. We do not use estimates and media-based numbers of survey companies. The "、ulation" section is an interpretation that the article reads from the primary information and is not an announcement of the company. This article is not medical advice.