Recursion Pharmaceuticals Sets Drug-Discovery Pact With Roche, Genentech
08 December 2021 - 12:52AM
Dow Jones News
By Colin Kellaher
Recursion Pharmaceuticals Inc. on Tuesday said it formed a
drug-discovery collaboration with Roche Holding AG and its
Genentech unit that is potentially worth several billion dollars to
the clinical-stage biotechnology company.
Recursion said it will work with the R&D units of both Roche
and Genentech to use its Recursion Operating System to more rapidly
identify novel targets and advance medicines in key areas of
neuroscience, as well as in an oncology indication.
The Salt Lake City, Utah, company said it will receive an
upfront payment of $150 million, adding that Roche and Genentech
may initiate up to 40 programs, each of which could yield more than
$300 million in development, commercialization and sales
milestones, along with royalties on sales.
Recursion reported cash, cash equivalents and investments of
$578.9 million as of Sept. 30.
Recursion said the companies will use insights generated from
the collaboration's maps of human cellular biology to find and
develop medicines against novel targets in neuroscience and the
oncology indication for up to a decade or longer, adding that
Recursion's other programs already underway in oncology or
neuroscience aren't part of the collaboration.
Shares of Recursion, which closed Monday at $18.48, were
recently up 5.5% in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 07, 2021 08:37 ET (13:37 GMT)
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