Recursion secures $50M investment from NVIDIA; collaboration on AI drug discovery models

RECURSION PHARMACEUTICALS, INC.

NVIDIA invested $50M via private placement of 7,706,363 shares at $6.488145/share.
Recursion plans to develop and distribute AI foundation models using NVIDIA DGX Cloud and BioNeMo.
Recursion's dataset exceeds 23 petabytes and 3 trillion searchable gene/compound relationships.
Proceeds to fund clinical/preclinical programs, digital chemistry, and foundation model construction.
Collaboration aims to optimize and scale biomolecular generative AI for biotech/pharma.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RECURSION PHARMACEUTICALS, INC. entered into Registration Rights Agreement with NVIDIA Corporation (effective 2023-07-11).

Action: entry
Agreement: equity purchase
Counterparty: NVIDIA Corporation
Effective: 2023-07-11

Exact text from the filing

In connection with the Private Placement, the Company and NVIDIA entered into a Registration Rights Agreement, dated July 11, 2023 (the “Registration Rights Agreement”), providing for the registration for resale of the Shares.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RECURSION PHARMACEUTICALS, INC. entered into Purchase Agreement with NVIDIA Corporation valued at approximately $50 million (effective 2023-07-11).

Action: entry
Agreement: equity purchase
Counterparty: NVIDIA Corporation
Value: approximately $50 million
Effective: 2023-07-11

Exact text from the filing

On July 11, 2023, Recursion Pharmaceuticals, Inc. (the “ Company ”) entered into a Stock Purchase Agreement (the “ Purchase Agreement ”) for a private placement (the “ Private Placement ”) with NVIDIA Corporation (“ NVIDIA ”). Pursuant to the Purchase Agreement, on July 11, 2023, the Company sold to NVIDIA an aggregate of 7,706,363 shares of the Company’s Class A common stock, par value $0.00001 per share (the “ Shares ”), at a purchase price of $6.488145 per Share in a private placement. The gross proceeds of the Private Placement were approximately $50 million

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Source: SEC EDGAR

accession 0001601830-23-000050

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