Two of the main corporations within the AI drug growth subject, Recursion Prescription drugs and Exscientia, mentioned Thursday that they are going to merge into one firm.
The brand new firm will proceed utilizing the Recursion identify and be led by Recursion co-founder and CEO Chris Gibson. Exscientia’s interim CEO, David Hallett, will function the corporate’s science chief. Recursion is spending $688 million within the all-stock deal, Reuters reported.
Recursion shareholders will personal roughly 74% of the mixed firm and Exscientia shareholders will personal roughly 26%.
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