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Recursion Announces its First Major Multidisciplinary Expansion, in Toronto, to Further Tech-Enabled Drug Discovery

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The company aims to hire up to 50 people by the end of 2021 across disciplines of data science, machine learning, engineering, product management and computational biology.

TORONTO, June 15, 2021 /PRNewswire/ -- Recursion (NASDAQ: RXRX), a clinical-stage biotechnology company decoding biology by integrating technological innovations across biology, chemistry, automation, machine learning and engineering, today announced its intention to soon launch its first major multidisciplinary expansion beyond its Utah headquarters, with plans to hire up to 50 people in Toronto by the end of 2021.

Recursion Logo (PRNewsfoto/Recursion)
Recursion Logo (PRNewsfoto/Recursion)

"As Recursion continues to build a next-generation biopharma company, it's critical that we hire the best talent," said Co-Founder & CEO Chris Gibson, Ph.D. "Toronto stood out as an ideal location for our first hub beyond our headquarters because of its diverse and brilliant talent across technology, biology and chemistry. I look forward to expanding our operations in Canada and hiring many new Recursionauts that will help us advance our mission of decoding biology to radically improve lives through continued development of the Recursion OS, as well as advancement and expansion of what is already the largest, broadest and deepest therapeutic pipeline of any technology-enabled drug discovery company."

Today, Recursion has over 260 employees across biology, chemistry, automation, data science, machine learning, engineering and accelerating functions. Over the past year, Recursion has increased its headcount by over 60 per cent. Through this growth, Recursion lived its values by helping all Recursionauts navigate the pandemic while safely keeping its labs open, secured a transformational discovery partnership with a major biopharmaceutical company and debuted on the public markets, all to accelerate the company's progress toward achieving its mission. Recursion has initiated the office selection process in Toronto and plans to open the doors of its new hub in the fall. This multidisciplinary hub will join its Salt Lake City, Utah headquarters and Milpitas, California in vivo biology center.

"As a proud Canadian who was born and raised in Toronto, it's clear to me that Recursion's unique pace, scale, values and ambition are well aligned with the incredible talent in my hometown, making this a full-circle life moment for me," said Chief People Officer Heather Kirkby. "I am thrilled to hire and support local Canadian talent that will no doubt bring further curiosity, humility and grit into the workplace. At Recursion, we are deeply committed to building a diverse workforce because it is crucial to achieve our audacious mission and also the right thing to do. We're proud of having built a workforce that is 40 per cent women all the way up to, and including, the executive team. We also believe that in addition to radically improving the lives of patients, we owe an equally positive impact on our employees, their families and the communities in which we operate. We look forward to partnering with a multicultural community and participating in the Canadian ecosystem where there are remarkable collaborations between industry, government and academia."

Recursion has partnered with Toronto Global, a team of experienced business advisors assisting businesses around the globe expand into the Toronto Region, and the Canadian Trade Commissioner Service, both of which are supporting Recursion's investment in Toronto and Canada.

"I am thrilled to welcome Recursion to the Toronto Region," said Toronto Mayor John Tory. "Our well-established life sciences ecosystem and business-friendly environment provides a competitive edge to innovative biotech companies. We have the talent, research expertise and infrastructure that companies like Recursion need to succeed. From deep learning to quantum computing to regenerative medicine, we are home to some of the world's most pre-eminent researchers in biotech and healthtech."

Candidates may learn more about Recursion and view open positions at Recursion.com/Careers.

About Recursion
Recursion is a clinical-stage biotechnology company decoding biology by integrating technological innovations across biology, chemistry, automation, machine learning and engineering. Our goal is to radically improve the lives of patients and industrialize drug discovery. Central to our mission is the Recursion Operating System, which combines an advanced infrastructure layer to generate what we believe is one of the world's largest and fastest-growing proprietary biological and chemical datasets. We combine that with the Recursion Map, a suite of custom software, algorithms and machine learning tools that we use to explore foundational biology unconstrained by human bias and navigate to new biological insights. Learn more at www.recursion.com, or connect on Twitter and LinkedIn.

Contact
Elyse Freeman - Senior Communications and Content Manager
Elyse.Freeman@Recursion.com

Investor Relations Contact
InvestorRelations@Recursion.com

Forward-Looking Statements
This press release contains information that includes or is based upon "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995. Forward-looking statements provide our expectations or forecasts regarding future events. You can identify these statements by the fact they do not relate strictly to historical or current facts. They may use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other terms of similar meaning in connection with a discussion of future operating or financial performance. In particular, forward-looking statements include statements relating to intended future actions; plans with respect to clinical trials and preclinical activities; prospective products or product approvals; future performance or results of anticipated products or technology; expenses; our ability to obtain, maintain and enforce intellectual property protections and financial results; in addition to other topics. Any or all of our forward-looking statements here or elsewhere may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements and from expected or historical results. Many such factors will be important in determining our actual future results. Consequently, no forward-looking statement can be guaranteed. In particular, you should read the discussion in the "Risk Factors" section in our Prospectus filed with the U.S. Securities and Exchange Commission (SEC) on April 16, 2021 and in our periodic filings with the SEC. Other factors besides those listed could also adversely affect the company. We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future developments or otherwise, except to the extent required by applicable law. These forward-looking statements (except as may be otherwise noted) speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. You are advised to consult any further disclosures we make on related subjects in our reports to the SEC.

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