After Recursion Pharmaceuticals announced that Nvidia had invested $50 million in the biotech startup, its shares increased by as much as 121% on Wednesday.
Nvidia’s investment will quicken Recursion’s efforts in AI-powered drug research, according to the company, which uses AI to speed up the drug discovery process.
In order to develop patient therapies for a variety of illnesses and diseases more swiftly, both businesses will work together on software for the biotech sector.
For the creation of its AI-enabled drug discovery models, Recursion stated that it would rely on Nvidia’s cloud services. Nvidia introduced BioNeMo, an AI drug discovery platform aimed at the biotech sector, earlier this year.
“With our powerful dataset and NVIDIA’s accelerated computing capabilities, we intend to create groundbreaking foundation models in biology and chemistry at a scale unlike anything that has ever been released in the biological space,” Recursion CEO Chris Gibson said in a press release.
The basis of Recursion’s drug development programme will be its database of more than 3 trillion searchable gene and chemical connections.
The parameters of the deal were kept confidential because the investment from Nvidia was carried out as a private investment in a public stock.
Recursion provided Insider with their prognosis for 2023 earlier this year. This overview includes information on the four medications the company presently has in development for rare diseases, as well as specifics on the MolRec web application that it just recently launched.
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