Company receives funding for next-generation drug discovery platform that uses artificial intelligence technology
Investment will enable company to scale-up its platform to screen more targets and diseases than they were previously capable of
Recursion Pharmaceuticals (UT, USA) has announced that it will receive $12.9 million in funding for development of its next generation drug discovery platform that combines high-throughput biology and automation with the newest advances in artificial intelligence (AI). So far, the company has successfully repurposed known drugs, bioactive compounds, and shelved pharma assets in the space of rare genetic disease. With its Series A funding, Recursion hopes to scale up its venture from the exploration of dozens of targets and diseases per year to thousands.
Recursion intends to continue focusing on drug repurposing and repositioning, an attractive strategy for big pharma since it leverages existing safety and efficacy data to translate discoveries into the clinic more rapidly and more economically.
The company will be primarily partnering with deep technology investor Lux Capital (CA, USA), with participation from Obvious Ventures (CA, USA), Epic Ventures (UT, USA), Data Collective (CA, USA), AME Cloud Ventures (CA, USA), and several angel investors.
“Our business model embraces partnership. We help our pharma partners identify new uses of their proprietary, high-value molecules,” said Chris Gibson, CEO of Recursion. “Combine that strategy with our big data skills and high-throughput biology expertise, and you have the potential to identify therapeutic agents for many diseases at a fraction of the cost. This is especially compelling in the area of rare disorders, which together affect 10% of our population, but the vast majority of which have no treatment.”
Aside from its research in the field of rare diseases, Recursion has also been awarded a grant from the NIH to apply their platform to diseases of aging and it is also exploring both internal projects and partnerships in inflammation, infectious disease, oncology and diagnostics.
“The beauty of our platform is that it is flexible enough to apply to any disease that can be modeled in human cells,” said Blake Borgeson, Co-Founder and Chief Technology Officer of Recursion.
Source: Recursion Pharmaceuticals Raises $13M To Discover New Drugs Using Artificial Intelligence: http://bit.ly/2d6bfVx