Recursion Pharmaceuticals, Inc. · NASDAQ:RXRX
Recursion Pharmaceuticals — JP Morgan Healthcare Conference 2023
37 slides from Recursion Pharmaceuticals's conference presentation, Jan 10, 2023
Slide 1: Decoding Biology to Radically Improve Lives
DECODING BIOLOGY TO RADICALLY IMPROVE LIVES RECURSION JP Morgan Healthcare Conference January 10th, 2023
Slide 2: Disclaimers
DISCLAIMERS This presentation and any accompanying discussion and documents contain information that includes or is based upon “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, esti
Slide 3: Recursion has an opportunity for arbitrage in the drug discovery space
RECURSION HAS AN OPPORTUNITY FOR ARBITRAGE IN THE DRUG DISCOVERY SPACE 50B 100M RECURSION 500K Eroom’s Law: Drug discovery is becoming slower and more expensive over time Moore’s Law: Computing power becomes faster and less expensive over time 1962 1970 1980 1990 2000 2010 2020 10 1 0.1 NMEs per $B
Slide 4: Historical tools and limits of human cognition oversimplify complex biology
Historical tools and the limits of human cognition have led to oversimplifying complex biological systems Traditional Approach to Biology Recursion’s Approach to Biology Well-known primary relationships between key members of five pathways: JAK/STAT | SWI/SNF | TGFβ | RAS | Proteasome All primary r
Slide 5: Map-based approach designed to set the standard for drug discovery
Recursion recursion’s map-based approach is designed to set the standard for drug discovery in the 21st century Literature drives discovery. Informs target-based hypotheses Traditional drug discovery Recursion approach Data are an exhaust. Limited to testing hypotheses Linear process. Little cross-p
Slide 6: Recursion overview and 2022 progress
Recursion Initiated 4 clinical trials in the first 3 quarters of 2022 (3 Ph2, 1 Ph1) Planning a 5th clinical trial to initiate (Ph2) Novel oncology programs (Target Alpha, Target Gamma) nearing IND-enabling studies Advancing collaborations in Fibrosis (Bayer) and Neuroscience (Roche-Genentech) • $13
Slide 7: Our pipeline reflects the scale and breadth of our approach
Recursion our pipeline reflects the scale and breadth of our approach Phase 1 Phase 2 Phase 3 (APC; est. 50K) AXIN1/APC MUTANT CANCERS (AXIN1/APC mutant cancers; est. 32K) KRAS/STK11-DRIVEN CHECKPOINT RESISTANCE (KRAS/STK11; est. 11K) MYC-DRIVEN ONCOLOGY (MYC; est. 54K1) CANCER IMMUNOTHERAPY TARGET
Slide 8: Leading indicators of efficiency in mapping and navigating biology and chemistry
Recursion mapping and navigating the complex systems of biology and chemistry has demonstrated leading indicators of efficiency Failing faster and earlier to › › spend less › Cost to IND ($M) 25 20 15 10 5 0 Industry 40 30 20 10 0 › and go faster Screen Hit ID Validated Lead Advanced Candidate Devel
Slide 9: How we build and navigate maps of biology and chemistry
How we build and navigate maps of biology and chemistry to turn drug discovery into a search problem recursion
Slide 10: Building biological and chemical datasets to map relationships across scales
We build biological and chemical datasets to map relationships across scales and understand the connectivity of the system recursion Organism Level Invivomics Cell Level Phenotypes Phenomics Metabolates Level Metabolomics Protein Level Proteomics RNA Level Transcriptomics DNA Level (Population-Scale
Slide 11: Robotic Automation at Scale
Recursion Robotic Automation at Scale Up to 2.2 Million wet-lab experiments per week profiling genes and compounds, we believe we are one of the largest phenomics (human cellular image-based) data producers 2.2 Million Week Diverse Biological and Chemical Inputs 48 different human cell types >1.7 Mi
Slide 12: Genome-scale mapping
All Human Genes with Significant Effects in this Cellular Context →→ Genome-scale mapping Recursion This is a whole-genome arrayed CRISPR knock-out Map generated in primary human endothelial cells Every gene is represented in a pairwise way (each is present in columns and rows) Dark Red indicate
Slide 13: JAK/STAT pathway clustered by strength of interaction
DOCK9 SLC39A1 ASB7 MEGF8 PRKCH SOCS3 PHF13 PPP1R9B TNKS1BP1 ZMYM3 FAM49B STK24 YWHAB IL6ST IL6R STAT3 IL6 JAK1 STAT3 ILGR ILGST WHAB STK24 FAM49B One such example—the JAK/STAT pathway clustered by strength of interaction, including both similar genes (red) and opposite genes (blue) Can wade into are
Slide 14: Maps reveal known and novel biology
Enhancer module INTS13- Int-PP2A (phosphatase module) INTS8 -INTS14 INTSS INTS10 Endonuclease module Central backbone INTS4 INTS11 INTS7- INTS9 SOSS complex -INTS1 INTS3 (N terminus) INIP INTS2 INTS6 Assembled complex -PP2A-C PPZA-A NABP1/2 INTS6 (C terminus) INTS3 dimer (C terminus) Endonuclease mo
Slide 15: Value driven by partnerships, clinical and preclinical programs
Value driven by partnerships, clinical and preclinical programs Recursion
Slide 16: How we create value using our maps of biology and chemistry
How we create value using our maps of biology and chemistry Discovery Partnerships Partnership strategy Partner in complex therapeutic areas requiring large financial commitment and competitive market dynamics Leverage partner knowledge and clinical development capabilities • Fibrosis • Neuroscience
Slide 17: Existing partnerships among the most significant collaborations in biopharma
Our existing partnerships represent some of the most significant scientific collaborations in biopharma Recursion • Α BAYER BAYER (Announced Sep 2020; Expanded Dec 2021) Fibrosis $30M upfront and $50M equity investment Up to or exceeding $1.2B in milestones for up to or exceeding 12 programs • Mid
Slide 18: Our pipeline reflects the scale and breadth of our approach
Our pipeline reflects the scale and breadth of our approach Therapeutic Area Indication Oncology FAMILIAL ADENOMATOUS POLYPOSIS (APC; est. 50K) Rare & Other Partnership Programs MULTIPLE PROGRAMS ADVANCING SIMULTANEOUSLY AXIN1/APC MUTANT CANCERS (AXIN1/APC mutant cancers; est. 32K) KRAS/STK11-DRIVEN
Slide 19: REC-994 for Cerebral Cavernous Malformation
Phase 2 Trial Underway—REC-994 for Cerebral Cavernous Malformation (CCM) PREVALENCE ~360,000 Symptomatic US + EU5, >1 million patients worldwide live with these lesions today CAUSE LOF mutations in genes CCM1, CCM2 & CCM3, key for maintaining the structural integrity of the vasculature due to unknow
Slide 20: REC-2282 for NF2-Mutated Progressive Meningioma
Phase 2/3 Trial Underway—REC-2282 for NF2-Mutated Progressive Meningioma PREVALENCE ~33,000 US + EU5 CAUSE LOF mutations in NF2 tumor suppressor gene PATHOPHYSIOLOGY Inherited rare CNS tumor syndrome leading to loss of hearing and mobility, other focal neurologic deficits OUR REASON TO BELIEVE Effic
Slide 21: REC-4881 for Familial Adenomatous Polyposis
Phase 2 Trial Underway—REC-4881 for Familial Adenomatous Polyposis (FAP) PREVALENCE ~50,000 PATHOPHYSIOLOGY US + EU5 Polyps throughout the GI tract with extremely high risk of malignant transformation CAUSE Inactivating mutations in the tumor suppressor gene APC OUR REASON TO BELIEVE Efficacy in the
Slide 22: REC-3964 for Clostridium difficile Colitis
Phase 1 Trial Underway — REC-3964 for Clostridium difficile Colitis PREVALENCE ~730,000 US + EU5 CAUSE Release of C. difficile toxins by colonizing bacterium causes degradation of colon cell junction, toxin transit to bloodstream, and morbidity to host PATHOPHYSIOLOGY Highly recurrent infectious dis
Slide 23: REC-4881 for AXIN1/APC mutant cancers
New Clinical Program—REC-4881 for the potential treatment of AXIN1/APC mutant cancers PREVALENCE ~32,000 CAUSE US + EU5 LOF mutations in AXIN1/APC tumor suppressor genes PATHOPHYSIOLOGY Alterations in the WNT pathway are found in a wide variety of tumors and confer poor prognosis and resistance to s
Slide 24: Target Alpha: potential first-in-class NCE to enhance anti-PD-(L)1 response
Recursion Target α: Potential first-in-class NCE with novel MOA to enhance anti-PD-(L)1 response • Goal: Identify novel compounds capable of enhancing the therapeutic benefit of checkpoint therapy without concomitant inflammatory side effects Phenomap insight: Novel compound (REC-648918) identified
Slide 25: Target Gamma: novel CDK12-adjacent target for HRD-negative ovarian cancer
Target : Novel CDK12-adjacent target for potentially treating HRD-negative ovarian cancer • Goal: Identify potential first-in-class tumor-targeted precision therapeutic NCE with novel MOA capable of potentially treating HRD-negative (HR proficient) ovarian cancer Phenomap insight: Inhibition of targ
Slide 26: Value driven by our team and our milestones
Value driven by our team and our milestones Recursion
Slide 27: A new kind of team and culture
What it takes to make this happen — a new kind of team and culture ~ 500 Employees Team Members 43% Advanced degrees Life Sciences-biology, chemistry, development, etc. Technology-data science, software engineering, automation, etc. Strategic Operations ESG Highlights Inaugural ESG report in 2022 —
Slide 28: What's next for Recursion
Recursion What’s next for Recursion Milestones Achieved • Initiated 4 clinical trials in 3 quarters • Phase 2 clinical trial evaluating REC-994 for the potential treatment of CCM • Phase 2/3 clinical trial evaluating REC-2282 for the potential treatment of NF2 • Phase 2 clinical trial evaluating REC
Slide 29: Impact
Impact RECURSION 29
Slide 30: Additional scientific and business context
Additional scientific and business context RECURSION
Slide 31: STK11: Opposition of STK11-loss enhances response to immunotherapy
Recursion STK11: Opposition of STK11-loss as an immunotherapy resistance marker enhances response to immunotherapy Goal: Identify compounds that oppose STK11-KO to enhance checkpoint therapy Phenomap insight: Novel class of compounds (REC-64151) inferred to rescue loss of STK11 Result: REC-64151 enh
Slide 32: MYC: Platform to identify small molecule inhibitors of MYC
MYC: Platform to identify small molecule inhibitors of MYC • Goal: Use the map-based inference platform to identify novel small molecules to mitigate aberrant activation of the MYC pathway Similar Phenomap insight: Phenotypes from the knockout of known MYC pathway phenotypes are highly related in th
Slide 33: Biopharma industry faces pressure amid declining drug discovery efficiency
The biopharmaceutical industry faces pressure amidst declining efficiency in drug discovery Number of Clinical and Preclinical Assets 2,500 Top-20 Pharma Companies Al-Native Drug Discovery Companies 200 2,000 1,500 1,000 500 705 768 708 686 709 602 575 641 519 439 393 333 Number of Clinical and Prec
Slide 34: Collaborations provide multiple potential value inflection points
Recursion Transformational collaborations provide multiple potential value inflection points Illustrative example of potential value inflection points Upfront Fee Value O Technical and Map-Based Milestones Pre-Clinical Milestones Clinical and Approval Milestones through N Programs 2 through N throug
Slide 35: COVID-19 research
Recursion COVID-19 research Drug Hydroxychloroquine Lopinavir Ritonavir Remdesivir Prediction Correct? Baricitinib Tofacitinib Ivermectin Fluvoxamine Dexamethasone Recursion Recursion conducted several Al-enabled experiments in April 2020 to investigate therapeutic potential for COVID-19 Included FD
Slide 36: Recursion is a leading TechBio company
Recursion is a leading TechBio company TOP TECH ENABLED DRUG DISCOVERY (TEDD) COMPANIES: FROST & SULLIVAN ANALYSIS Mature internal pipeline, large strategic partnerships, advanced computational resources Computational focused, known biology Atomwise Schrodinger Insilico Medicine Generate Biomedicine
Slide 37: Scalable and relatable data is the Recursion differentiator
Biology and chemistry are complex—data that is scalable and relatable is the Recursion differentiator Year 2018 2019 2020 2021 2022 Total Phenomics Experiments (Millions) 8 24 56 115 175 Total Transcriptomics Experiments (Thousands) NA ÎΑ 2 91 258 Data (PB) 1.8 4.3 6.8 12.9 21.2 Cell Types 12 25 36
Recursion Pharmaceuticals — JP Morgan Healthcare Conference 2023 on 6ix