RECURSION PHARMACEUTICALS, INC.

Recursion is a clinical-stage TechBio company focused on decoding biology to improve lives. The company uses its integrated drug discovery and development platform, the Recursion Operating System (OS), to power its internal programs and strategic partnerships. This platform offers complete, AI-native capabilities from new biological ideas through clinical development, combining multimodal biological data generation, AI-powered small molecule synthesis, and AI-enabled clinical development. Recursion's technologies are designed to translate complex science into medicines more quickly, effectively, and at scale. Historically, moving a drug discovery project from early discovery to an approved therapeutic has taken over ten years and an average capitalized R&D cost of approximately $2-3.5 billion, with less than 4% of initiated programs resulting in an approved medicine. Recursion aims to transform this traditional "V-shaped" discovery funnel into a 'T-shaped' model by using advanced computational tools across biology, chemistry, and clinical development. The goal is to quickly narrow a broad set of potential medicines to candidates with the highest probabilities of success, moving programs through development more efficiently and with less attrition. Advances in artificial intelligence and machine learning (AI/ML) are increasingly influencing the technology and biopharmaceutical industries, with a majority of large biopharmaceutical companies now using AI/ML in drug discovery or development. Global investment in AI-enabled drug discovery has grown to several billions of dollars annually. Regulators and policymakers are also actively engaged, with AI/ML-enabled approaches applied across multiple stages of drug discovery and development, including target identification, molecular design, chemical synthesis, clinical development, and manufacturing.