Recursion Pharmaceuticals and Exscientia PLC Shareholders Approve Merger

By Tamara Parker • Wednesday, November 13 15:18 • Permanent Link

Recursion (NASDAQ: RXRX) and Exscientia PLC (NASDAQ: EXAI) have announced that their shareholders have overwhelmingly approved the proposed combination between the two companies. The transaction is expected to close on November 20, 2024, subject to the satisfaction or waiver of the remaining customary closing conditions.

Chris Gibson, Ph.D., co-founder and CEO of Recursion, emphasized that the strong support from both Recursion and Exscientia shareholders validates the rationale for the business combination. He also highlighted the potential of bringing together Recursion's biological and chemical exploration and mapping capabilities with Exscientia's molecular design and automated chemistry synthesis capabilities to accelerate the discovery of better drugs for patients.

Recursion operates as a leading clinical stage techbio company decoding biology to industrialize drug discovery. It leverages sophisticated machine-learning algorithms to distill trillions of searchable relationships across biology and chemistry, unconstrained by human bias. Recursion commands massive experimental and computational scale, owning and operating one of the most powerful supercomputers in the world.

Exscientia, on the other hand, is a technology-driven drug design and development company committed to creating more effective medicines for patients faster. It combines precision design with integrated experimentation, pioneering the use of AI in drug discovery as the first company to progress AI-designed small molecules into a clinical setting.

The final voting results from the Recursion special meeting will be disclosed in a current report on Form 8-K to be filed with the U.S. Securities and Exchange Commission. Similarly, the final voting results for the Exscientia general meeting and the Exscientia court meeting will be disclosed in Exscientia’s Form 6-K, each filed with the U.S. Securities and Exchange Commission.

Recursion is expected to host an update call after the anticipated close on November 20, 2024, at 7:30 a.m. ET, where it will broadcast the live stream from Recursion’s X (formerly Twitter), LinkedIn, and YouTube accounts.

No specific figures or metrics were provided in the press release. Today the company's shares have moved -1.4% to a price of $7.47. If you want to know more, read the company's complete 8-K report here.

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