Exscientia Merges with Recursion Pharmaceuticals to Accelerate AI-Driven Drug Discovery
Thursday, 8 August 2024, 21:37
Merger Overview
On Thursday, Exscientia plc (NASDAQ:EXAI) announced its agreement to merge with Recursion Pharmaceuticals Inc. (NASDAQ:RXRX).
Key Terms of the Agreement
- Exscientia shareholders will receive 0.7729 Recursion shares for each Exscientia share.
- Fractional shares will be compensated in cash.
- Recursion shareholders will control approximately 74% of the merged entity.
- Exscientia shareholders will retain about 26%.
Conclusion
This merger marks a significant strategic move to enhance AI-driven drug discovery, as both firms aim to leverage their combined expertise to drive innovation in the pharmaceutical market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.