Recursion Announces Plans to Open New Office in London
LONDON, March 11, 2024 (GLOBE NEWSWIRE) -- Recursion (NASDAQ:RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today announced plans to open a new office in London's vibrant King's Cross neighborhood. Set to formally open in June 2024, the site will provide Recursion and Valence Labs, the company's artificial intelligence research engine, access to world-class talent across Europe's rapidly growing TechBio sector and embed Recursion in a thriving innovation ecosystem of leading technology and life science companies.
"As Recursion continues to lead and define the TechBio industry, it's critical we hire the best possible talent, much of which is located in Europe," said Chris Gibson, Ph.D., Co-founder and CEO at Recursion. "London stood out as an ideal location given its brilliant and interdisciplinary talent across the fields of technology, biology and chemistry. It's also the epicenter for the rapidly growing TechBio sector in Europe, where leading technology and life science companies like Google and Merck both sit within walking distance of our new Recursion site. I look forward to expanding our operations in Europe and hiring many new Recursionauts who will help us advance our mission of decoding biology to radically improve lives."
To support Recursion's leadership in TechBio and entry into London, the company is excited to announce the addition of Michael Bronstein, DeepMind Professor of Artificial Intelligence at Oxford University, as a Scientific Advisor. Professor Bronstein is a world leader in geometric deep learning, graph neural networks, and protein design. Professor Bronstein joins AI luminary Professor Yoshua Bengio in supporting Recursion and Valence Labs in the development of state-of-the-art AI models to support the industrialization of drug discovery.
"Recursion is leading the field in advancing cutting-edge AI research for real-world applications with the potential to radically improve lives, and I'm honoured to join them in their mission," said Prof Michael Bronstein. "I have collaborated with Valence prior to their acquisition by Recursion, and I look forward to continuing to work with the team to advance this important work, especially as Recursion continues to grow in London."
Recursion's 6,700 square foot London office will be located at 3 Pancras Square, King's Cross London. The building is part of a 67-acre redevelopment project in the heart of King's Cross, with over 4.5 million square feet of office space. Located within a 3-minute walk from King's Cross Station and St. Pancras International, the site offers excellent transit access. The building includes an onsite cafe, bicycle storage, showers, prayer room and mothers room. In line with Recursion's commitment to sustainability, the building meets the requirements for an "Excellent" rating by BREEAM building standards and is linked to a site-wide district heating and cooling network that results in net-zero carbon emissions.
"The UK Government's plan for attracting more inward investment into the UK is working. Recursion's investment is yet another vote of confidence in the UK, our top talent and our amazing tech and life sciences industries," said Investment Minister Lord Johnson. "I'm delighted Recursion has chosen London, and we'll continue to do everything we can to ensure the UK remains the top choice for investments like this."
Today, Recursion has over 500 employees with a near-equal mix of life scientists and technologists across sites in Salt Lake City, Toronto, Montréal, and the San Francisco Bay Area. Recursion's new London office will serve as an extension of both Recursion and Valence Labs' teams. To launch recruiting efforts for the new site, Recursion has opened multiple new roles across technology and biology functions with immediate plans to hire the first 20 people to be based out of the new London office. Recursion and Valence Labs will also host a TechBio Mixer tomorrow, March 12, at the location of its new site to celebrate the office and network with the TechBio community.
For more information on open positions and to apply, visit recursion.com/careers and valencelabs.com/careers.
About Recursion
Recursion is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world's largest proprietary biological, chemical and patient-centric datasets. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias. By commanding massive experimental scale — up to millions of wet lab experiments weekly — and massive computational scale — owning and operating one of the most powerful supercomputers in the world, Recursion is uniting technology, biology, chemistry and patient-centric data to advance the future of medicine.
Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive, the Utah life sciences industry collective. Recursion also has offices in Toronto, Montreal and the San Francisco Bay Area. Learn more at www.Recursion.com, or connect on X (formerly Twitter) and LinkedIn.
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Forward-Looking Statements
This document contains information that includes or is based upon "forward-looking statements'' within the meaning of the Securities Litigation Reform Act of 1995, including, without limitation, those regarding the opening of the London office and timing of such opening; the recruitment efforts and number of roles at the London office; and all other statements that are not historical facts. Forward-looking statements may or may not include identifying words such as "plan," "will," "expect," "anticipate," "intend," "believe," "potential," "could," "continue," and similar terms. These statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; our ability to leverage and enhance our drug discovery platform; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading "Risk Factors" in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the Fiscal Year Ended December 31, 2023. All forward-looking statements are based on management's current estimates, projections, and assumptions, and Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.
