AI-Powered Drug Discovery Firm Exscientia To Merge With Nvidia-Partner Recursion Pharmaceuticals
Portfolio Pulse from Vandana Singh
Exscientia plc (NASDAQ:EXAI) will merge with Recursion Pharmaceuticals Inc. (NASDAQ:RXRX), with Exscientia shareholders receiving 0.7729 Recursion shares for each Exscientia share. The combined entity will be named Recursion, headquartered in Salt Lake City, and will trade on NASDAQ. The merger aims to enhance drug discovery capabilities and expects significant synergies and clinical trial readouts in the next 18 months.
August 08, 2024 | 9:37 pm
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Exscientia shareholders will receive 0.7729 Recursion shares for each Exscientia share. The merger aims to enhance drug discovery capabilities and expects significant synergies and clinical trial readouts in the next 18 months.
The merger is expected to enhance drug discovery capabilities and create significant synergies, which is likely to positively impact EXAI's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Recursion Pharmaceuticals will merge with Exscientia, with Recursion shareholders owning approximately 74% of the combined entity. The merger aims to enhance drug discovery capabilities and expects significant synergies and clinical trial readouts in the next 18 months.
The merger is expected to enhance drug discovery capabilities and create significant synergies, which is likely to positively impact RXRX's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100