SALT LAKE CITY, March 26, 2024 (GLOBE NEWSWIRE) -- Recursion (Nasdaq: RXRX), a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery, today announced the release of its third annual Environmental, Social and Governance (ESG) Report. The report highlights the company’s approach, progress and goals in several important areas such as its commitment to patients, social and community impact, people and culture, environmental sustainability, and governance.
“Our vision of using AI and technology to create a better, more efficient process of discovering many new medicines is inherently a vision of sustainability. Efficiency – in our context – drives a more sustainable healthcare system,” said Chris Gibson, Ph.D., Co-Founder and CEO at Recursion. “Now in our third year of reporting on our ESG goals and progress, we’re not only pushing the boundaries of what is possible with TechBio to create a new paradigm in drug discovery, but also making strides to drive positive impacts for all of our stakeholders.”
Recursion has been widely recognized for its commitment to excellence in environmental, social and governance stewardship, including ranking 16 out of over 900 companies (approximately the top 2%) in the pharmaceutical category by Morningstar Sustainalytics as of January 2024. This ranking places Recursion in Sustainalytics’ 2024 Top-Rated ESG Companies List. Recursion also received a Prime Rating in 2023 for ESG performance from Institutional Shareholder Services (ISS). A Prime Rating is awarded to companies with ESG performance above a sector-specific threshold and is defined by ISS as "absolute best in class". In February 2024, Recursion received an A Rating for ESG performance by MSCI.
Recursion’s ESG Report is guided by key ESG frameworks and standards, notably the Sustainability Accounting Standards Board (SASB), The Task Force on Climate-Related Financial Disclosures (TCFD) and the United Nations Sustainable Development Goals (UN SDGs). You can learn more about Recursion’s approach to ESG and download a copy of the report at www.Recursion.com/esg.
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.
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 its initiatives to reduce greenhouse gas emissions, improve workforce diversity and accelerate community impact; 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,” “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. 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.
