AI drug discovery biotech Recursion Pharmaceuticals sets terms for $306 million IPO - (Renaissance Capital via NewsPoints Desk)

  • Recursion Pharmaceuticals plans to raise $306 million in its initial public offering by selling 18 million shares at a price range of $16 to $18, reported Renaissance Capital.

  • The company is using artificial intelligence to develop therapies for various indications.

  • While Recursion is advancing 37 programs, its most advanced programs include one candidate targeting oncology and three targeting rare genetic disorders, all of which are set to enter Phase II or II/III trials within the next four to five quarters.

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