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Drug Discovery RECURSION PHARMACEUTICALS Set Terms for $306 Million US IPO

Esther Thin

Recursion Pharmaceuticals, drug discovery, has filed Amendment No 1 to Form S-1 Registration Statement on April 12, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.

The company plans to raise $306 million by offering 18 million shares at a price range of $16 to $18. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $3 billion.

The company decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering, with the goal of radically improving the lives of patients and industrializing drug discovery.

The Salt Lake City, Utah-based company was founded in 2013 and booked $4 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq Global Select Market under the symbol “RXRX.” Goldman Sachs, J.P. Morgan, BofA Securities, SVB Leerink and Allen & Company are underwriters of the IPO.

The company engages Wilson Sonsini Goodrich & Rosati PC as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.

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