Recursion Pharmaceuticals, Bayer to focus research collaboration on oncology

Bayer (BAYRY) and US-based Recursion Pharmaceuticals (RXRX) announced that they have updated the focus of their research collaboration to precision oncology. “The methodology in which Recursion uses artificial intelligence in drug discovery, could be one of the most disruptive technologies of our time,” said Juergen Eckhardt, M.D., Head of Business Development, Licensing & Open Innovation, Pharmaceuticals Division, Bayer AG, and Head of Leaps by Bayer. “As our collaboration and the usage of AI continue to evolve, we look forward to continuing to work with industry innovators to identify novel targets for oncology indications.” Under the terms of the agreement, the companies may initiate up to seven oncology programs and Recursion is eligible to receive potential, success-based, future payments of up to $1.5B plus royalties on net sales. Bayer will gain the option to exclusively license novel therapeutics derived from the research activities.