Exscientia, acquired by Recursion with investment from NVIDIA, saw its stock price surge by 16%
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Artificial intelligence-driven drug development company Recursion Pharmaceuticals has agreed to acquire competitor Exscientia in an all-stock deal worth $688 million. The transaction is expected to be completed in early 2025, providing the combined entity with approximately $850 million in cash for its operations over the next three years. After the completion of the deal, Recursion shareholders will own approximately 74% of the merged company, while Exscientia shareholders will own the remaining shares
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