Q2 2024 Recursion Pharmaceuticals Inc Earnings Call
So and I hope very soon to be CFO of <unk> interim CEO of Accenture and soon to be CFO of <unk>, Dave Holland, We're coming to you live from Oxford U K. We are in the <unk> facility were behind me. They are using a closed loop automated synthesis platform.
David Hallett: and the interim CEO and I hope very soon to be CSO of Recursion, interim CEO of Accentia and soon to be CSO of Recursion Dave Hallett. We are coming to you live from Oxford, UK. We are in the Accentia facility where behind me, they are using a closed loop automated synthesis platform for chemistry to advance new medicines towards patients and we're just delighted to be sharing the news today that our two businesses have announced a combination.
For chemistry.
Speaker Change: To advance new medicines towards patients and we're just delighted to be sharing the news today that our two businesses have announced a combination.
Speaker Change: What I would like to do today is walk through first that combination together with Dave and his job and I'm going to start by talking about some of the complementary factors that we see first a pipeline of nearly 10 or approximately 10 readouts over the next 18 months in the clinic I think this is it.
Christopher Gibson: What I would like to do today is walk through first that combination together with Dave and Najat and I'm going to start by talking about some of the complimentary factors that we see. First, a pipeline of nearly 10 or approximately 10 readouts over the next 18 months in the clinic. I think this is a really important milestone for a company like Recursion, a company that is trying to prove this next generation of medicines a new way to discover medicines and being able to generate this quantity and quality of potential readouts in the coming quarters, I think it's going to be really, really fantastic.
Speaker Change: Important milestone for a company like <unk> a company that is trying to prove this next generation of medicines, a new way to discover medicines and being able to generate this quantity and quality of potential readouts in the coming quarters, I think it's going to be really really fantastic.
Speaker Change: Next partnerships recurs and have some incredible partnerships with large companies like Roche Genentech and buyer.
Christopher Gibson: Next, partnerships. Recursion has some incredible partnerships with large companies like Roach Genentech and buyer. Our partners Accentia have fantastic partnerships with companies like Sanfee and Merck KGA and we are just delighted not only for the opportunity to combine our businesses and work against all of these partnerships but actually to deploy the tools and technologies the teams that we will be assembling against the partnerships of our counterparties and I think this deal in many ways will make Recursion perhaps a partner of choice for others in the industry.
Speaker Change: Our partners essentially you have fantastic partnerships with companies like Santa Fe, and Merck <unk> and we're just delighted not only for the opportunity to combine our businesses and work against all of these partnerships, but actually to deploy the tools and technologies. The teams that we will be assembling against the partnership of our counterpart.
And I think this deal in many ways will make recursion, perhaps a partner of choice for others in the industry.
Speaker Change: Finally, our platform our platforms have workers really focused on exploration of biology hit discovery target discovery and we've been building that for over a decade and our colleagues at Accenture you have really been building for about the same amount of time. This incredible precision chemistry platform the ability to go from a hit to a development.
Christopher Gibson: Finally, our platform. Our platforms at Recursion really focused on exploration of biology hit discovery, target discovery. We've been building that for over a decade and our colleagues at Accentia have really been building for about the same amount of time this incredible precision chemistry platform. The ability to go from a hit to a development candidate with active learning and automated synthesis is really, really exciting to us and putting these two platforms together we think is going to put us on the cutting edge.
Speaker Change: In addition, with active learning and automated synthesis is really really exciting to us and putting these two platforms. Together, we think is going to put us on the cutting edge and finally, when we combine these businesses.
Christopher Gibson: And finally, when we combine these businesses, we believe that we will have not only the team the tools and the technology to go to the distance but we also have the resources to do that. At the end of Q2 the companies combined had roughly $850 million which we believe with the right kind of operational synergies puts us on a runway into 2027.
Speaker Change: We believe that we will have not only the team the tools and the technology to go to the distance, but we'll also have the resources to do that at the end of Q2, the company's combined have roughly $850 million, which we believe with the right kind of operational synergies puts us on a runway into 2027 and finally, the most important piece.
Speaker Change: Is the people.
Christopher Gibson: And finally the most important piece is the people. Both of these businesses have been building and pioneering the technology biology interface for the last decade or more. And we think we have some of the best teams in the industry and by combining our businesses, we're going to be able to take these two incredible teams, put them together. And this is definitely, as Dave likes to say, definitely a situation we believe we're one plus one equals three.
Speaker Change: Most of these businesses have been building and pioneering the technology.
<unk> biology interface for the last decade, or more and we think we have some of the best teams in the industry and by combining our businesses, we're gonna be able to take these two incredible teams put them together and this is definitely as David likes to say definitely a situation, we believe where one plus one equals three.
Speaker Change: So I want to dive into the pipeline just a little bit give you a little bit more depth there.
Christopher Gibson: So I want to dive into the pipeline just a little bit, give you a little bit more depth there. What I think is most exciting and important about the pipelines, beyond the 10 potential readouts in the next 18 months, is the complementarity. These are pipelines that have really no therapeutic overlap where the two companies are both focused to some degree on oncology but recursion really focused in rare disease, infectious disease, and our colleagues at Accentia really focused at the immunology beyond oncology.
Speaker Change: What I think is most exciting and important about the pipeline beyond the 10 potential readouts in the next 18 months is the complementarity.
Speaker Change: These are pipelines that have really no therapeutic overlap where the two companies are both focus to some degree on on.
Speaker Change: Apologies, but recurs and really focused in rare disease infectious disease, and our colleagues that accenture I really focus immunology beyond oncology, that's a fantastic opportunity in the combined business for us to expand the reach through our partnerships. We also were able to go after a number of additional areas as well.
Christopher Gibson: That's a fantastic opportunity in the combined business for us to expand the reach. Through our partnerships, we also were able to go after a number of additional areas as well. Of course, recursion, given our focus on biology, he's really gone after first in disease, first in first in class type targets and our colleagues at Accentia, I think, have done a tremendous job of going after some of the hardest chemistry on targets that the world is really, really excited about, really best in class tools and technology by putting these together. We believe that this organization is going to be in a position to bring first and besting class medicines to patients and drive down the cost of discovery.
Speaker Change: Of course, we're kirshin given our focus on biology has really gone after first in disease first and first in class type targets and our colleagues at Accenture I think have done a tremendous job of going after some of the hardest chemistry on targets that the world is really really excited about really best in class tools and technology by putting these together we believe that.
Speaker Change: This organization is going to be in a position to bring first and best in class medicines to patients and drive down the cost of discovery. So I wanted to turn to <unk>, who just joined US just a few weeks ago, it's been quite a whirlwind.
Najat Khan: I want to turn to Najad who just joined us, boy, just a few weeks ago, it's been quite a whirlwind. Let's talk a little bit about the pipeline of the proposed entity with these 10 programs that may read out in the next 18 months. Najad. Thanks, Chris. At the end of the day, we talk a lot about biology, chemistry, automation, tech, et cetera, but it all converges to the medicines we make to patients that are waiting.
Speaker Change: Let's talk a little bit about the pipeline of the proposed entity with these 10 programs that may read out in the next 18 months yeah. Thanks, Brett.
Speaker Change: At the end of the day, we talk a lot about biology, chemistry automation check et cetera, but it all converges to the medicine. She makes the patient's been reading and that's really what this slide is about so I'll talk about two portions first is about our internal pipeline and then also about the external pipeline that we're building in learning with our partners, which as mentioned so on the first piece.
Najat Khan: And that's really what the slide is about. So I'll talk about two portions. First is about our internal pipeline, and then also about the external pipeline that we're building and we're learning with our partners, which you've heard said, So in the first piece, you see that there's about 10, as Chris mentioned, clinical and near clinical readouts coming out of the next 18 months. There's breath, and then there's death. The death really coming from both of us doubling down in precision oncology, blowing after both he and solid tumors, both of which have significant unmet need.
Speaker Change: You see that Theres about 10, as Chris mentioned clinical and clinical Readouts coming out of the next 18 months, there's breath and then there's.
Speaker Change: The death really coming from both of us doubling down in precision oncology going after both heme and solid tumors, both of which have significant unmet needs.
Speaker Change: And then in terms of other areas, where we have that rare diseases different types of bandwidth is a significant unmet need and want.
Najat Khan: And then in terms of other areas where we have death, rare diseases, different types of rare diseases, significant unmet need, and quite a few of them, frankly, with no standard of care that exists today. And then also an infectious disease is going after areas that have huge unmet needs for the aging population. So that's one piece. The second piece I do want to mention is the fact that we have multiple readouts coming out over the next 18 months.
Speaker Change: A few of them quite frankly with no standard of care that exist today.
Speaker Change: And then also in infectious disease is going after areas that are have huge unmet need for the agent population. So that's one piece. The second piece I do want to mention is the fact that we have multiple readouts coming out over the next 18 months, the 10 readouts across safety Tolerability and preliminary views and experts.
Najat Khan: The 10 readouts across safety, tolerability, preliminary views, and access. And then the third piece is the external pipeline. You know, as Chris mentioned, this is expanding us from oncology, rare disease, infectious disease, to immunology. Two sides of the point, many people would say oncology and immunology, in terms of understanding the biology and being able to address it. So we'll speak more about that with some of our large partnerships that we have that are transformational, but I want to mention one of the points.
Speaker Change: And then the third piece is the external pipeline. Chris mentioned this is expanding us from oncology infectious diseases immunology two sides of the point, maybe people, who sound policy and immunology interest in understanding the biology and being able to address it. So we'll speak more about that with some of our large partnerships that we have that are transformational.
<unk>.
Speaker Change: But I want to mention one other point.
The milestones that you'll be able to talk about also are diapers and what do I mean by that some of them are focused on therapeutics and.
Najat Khan: The milestones that we'll talk about also are diverse. What do I mean by that? Some of them are focused on therapeutics, and milestones, and others are focused on products, such as the biology math that we read since the options to genetic research. Thanks to job. I think it's important to also mention that beyond this internal pipeline, as the job mentioned, there's this external partner based pipeline. And as we're sharing today publicly, there are 10 programs that have been options by one of our partners.
Speaker Change: Milestone and others are focused on products such as the biology mats that we recently options to John and Joe.
Speaker Change: Thank you John I think it's important to also mentioned that beyond this internal pipeline as John mentioned Theres. This external partner based pipeline and as we're sharing today publicly there are 10 programs that had been optioned by one of our partners. So we really are building a pipeline of pipelines, both internal and external within multiple therapeutic areas.
Najat Khan: So we really are building a pipeline of pipelines, both internal and external within multiple therapeutic areas. You know, for those tuning into our learning soil, they may be less familiar with the pipeline of infectious. Certainly, we've become incredibly familiar with it over diligence last few weeks and months, and we're really excited. I want you to tell folks a little bit about what you've been working on, and I know we'll have a chance to dive into your lead program in just a minute.
Speaker Change: For those tuning into our learning so they may be less familiar with the pipeline of essentially is certainly we've become incredibly familiar with it over diligence last few weeks and months and we're really excited I want you to tell folks a little bit about what you've been working on and I know, we'll have a chance to dive into your lead program in just a minute.
Speaker Change: Thank you Chris Thank you Alicia.
Speaker Change: <unk>.
Najat Khan: Thank you Chris. What I like about this proposed combination is the complementarity, as Chris mentioned, about the pipeline. Our lead assets are focused in large indication spaces, I met needs, and broadly in the oncology space, solving design problems that other people have failed to solve. And of the course of the coming next six to 12 months, you'll see kind of significant updates on each of those. I'll focus on three at the moment, and then talk about CDK seven in a second.
Speaker Change: What I like about it.
Speaker Change: This proposed combination is the complementarity as Chris mentioned about the pipeline.
Speaker Change:
Speaker Change: I'll lead assets are focused in large indications spaces.
Speaker Change: Needs.
Speaker Change: Broadly in the oncology space solving design problems that other people have felt to solve them and over the course of the coming makes a six to 12 months youll see kind of significant updates for each of those and I'll focus on three of the moment and then talk about CDK seven in a second.
So efficacy features.
Speaker Change: Inhibitor that we licensed to Bemis.
Najat Khan: So our PKT feature inhibitor that we license to BMS is kind of navigating a phase more helping volunteers to the other moment. That was updated very recently. LSD one, and more one are people to neck and neck. We are looking to file I&Ds with those two different compounds in the coming months looking to actually initiate the dosing of patients towards, as we straddle 24 to 25. But if I may, let's look at the concentrate on CDK seven.
Speaker Change: <unk>.
Speaker Change: The gating faithfully healthy volunteer study at the moment and that was.
Speaker Change: Thank you very recently, LSC womb, and moana pretty much neck and neck, we are looking to file an IND piece.
Speaker Change: Those two different compounds.
Speaker Change: In the coming months looking to initiate dosing of patients is towards as we struggled 'twenty four 'twenty five.
Speaker Change: If I make the split to produce concentrate on CDK seven.
Speaker Change: So people may be aware that we recently acquired 100% of commercial rights to this asset and that's because we believe it is so much.
Najat Khan: Some people may be aware that we recently acquired 100% of commercial rights this asset. That's because we believe that it's so much. This is a truly potential, kind of, best-in-class compound, the operates in a related but broader space to the well-known CDK46 inhibitors. This compound is currently recruiting deep into a monotherapy dose escalation study, and I'm hoping to provide an update on the progress of that towards end of this year. The first plot to call, we're going to take this into a clinical setting, is looking at a combination of services in a pair of two negative, vulnerable resistant positive breast cancer patients that are progressed after CDK46.
Speaker Change: This is a truly potential best in class compound.
Speaker Change: The operation kind of interrelated, but broader space to the well known CDK four six inhibitors.
Speaker Change: This compound is currently recruiting deep into a monotherapy dose escalation study.
Speaker Change: And I'm, hoping to provide an update on the progress of that towards the end of this year.
Speaker Change: The first quarter call that we're going to take this into into a clinical setting and he's looking to combination study. So this is in a credit to negative.
Speaker Change: Beaumont resistant positive.
Speaker Change: Breast cancer patients that progressed after CDK four six megabits.
Speaker Change: Really really impressed with the performance of these compounds.
Najat Khan: Really, really impressed with the performance of this compound, looking to also potentially explore other tumultives, and will update the capital markets late in the year. Thanks, Dave. Very excited about the potential for bringing these two pipelines together. Beyond the pipelines, of course, as we mentioned before, the partnerships. Recursion, we have a number of partnerships you can see here, our colleagues at Accentia, a number of extraordinary partnerships. I think some of the most exciting partnerships in the space of technology-nabel drug discovery.
I'm looking to also potentially explore other tumor types and we will update the capital markets later in the year.
Speaker Change: Thanks, Dave.
Speaker Change: Very excited about the potential for bringing these two pipelines together beyond the pipelines of course, as we mentioned before the partnerships and brokers and we have a number of partnerships you can see here.
Speaker Change: Our colleagues at essentially out number of extraordinary partnerships I think some of the most exciting partnerships in this space of technology enabled drug discovery and as we mentioned earlier. There are these 10 programs that had been options. We believe that between the two companies. If this deal is able to be closed we have the potential to drive roughly $200 million worth of milestones.
Najat Khan: And as we mentioned earlier, there are these 10 programs that have been optioned. We believe that between the two companies, this deal is able to be closed. We have the potential to drive roughly $200 million worth of milestones over the next two years or so. And there's the potential between these partnerships, assuming no additional partnerships for more than $20 billion worth of milestones before royalties. And I think that is really, really unique. We have had interest from large farm, and not only in finding really exciting medicines, but finding medicines at scale. I think that speaks to the platforms that both companies have built.
Speaker Change: Over the next two years or so and there is the potential between these partnerships assuming no additional partnerships for more than $20 billion worth of milestones before.
Speaker Change: Royalties and I think that is really really unique we have had interest from large pharma not only in finding really exciting medicines, but finding medicines at scale I think that speaks to the platforms that both companies have built.
Speaker Change: John I Wonder if you want to talk a little bit about how you see the complementarity of the partnerships that.
Najat Khan: Nijana, I wonder if you want to talk a little bit about how you see the complementarity of the partnerships? Absolutely. And I want to pick up on something you just said around scale. And as you're talking for us, we're talking about 10 programs in the clinic in our internal pipeline. Over a dozen in the subway, and 10 in our external timeframe. And that is a pretty significant portfolio that we've built without partners and also internally.
Absolutely and I want to pick up on something you just sat around scale.
Speaker Change: We're talking fast Youre talking about 10 programs in the clinic in our internal pipeline over a dozen in discovery and tenant our external headwind.
Speaker Change: That is that is a pretty significant portfolio that they've built.
Speaker Change: Our partners can also in Germany, how do we make it happen with partnerships and a big part of the Roche Genentech via those extremely important partnerships, where we are working on new or targets that can be first in class potential can be first in class.
Najat Khan: How do we make it happen? So partnerships that are a big part of it, roast and entangue, buy those extremely important partnerships, where we are working on new, hard targets that can be purchased in five, and the potential can be purchased in five minutes. But there's two other partnerships that I want to note, which I think has a lot of top of interity with Accidential for us. One is within video. Need I say more than need for compute to do everything that we do, whether it's in biology, chemistry, complex problems, lots of data.
Speaker Change: But there's two other partnerships, which I think have a lot of talk of integrity, but expansion as well one is within video.
Speaker Change: It's a more of a need for computers to do everything that we do whether its in biology chemistry. It's complex problems lots of data I think there's so much value in terms of what can be done with the work that expansion is doing and generative AI <unk> three D does that quantum mechanics, and so forth. So that's going to play really into our favorite accelerates what we both digitally and in the other type of partnerships.
Najat Khan: I think there's so much value in terms of what can be done with the work that Accidential is doing in generative AI, 2D, 3D design, quantum mechanics, and so forth. That's way to play really into our paper to accelerate what we both are doing. And then the other type of partnerships are data. You know, the famously mentioned, tens of feelings, why is this important? As we have more of these programs going into the clinic, ten in the internal pipeline. 12 in December, ten in externally becomes really important to design programs well.
Speaker Change: Data.
Speaker Change: This is Peter mentioned, Kansas Helix why is this important as we have more of these programs going into the clinic tenants the internal pipeline.
Speaker Change: I'll, then discuss tenant externally it becomes really important to design programs well, so having plants all multi omics data, but the overall data is extraordinary important breakfast stratified patients drive true precision medicine in our trials and accelerate our programs and filed with treatment. So that we can fulfill our promise of developing novel medicine.
Najat Khan: So having clinical multiomic data over the real world data is extraordinary important for us to stratify our patients, drive true precision medicine in our trials, and accelerate our programs in trial recruitment, so that we can fulfill our promise of developing novel medicines better, faster, and we'll talk to you later.
Speaker Change: Better faster and more cost extra jobs did can you comment a little bit on how we can use our complementary.
David Hallett: Thanks, Najat. Dave, can you comment a little bit on how we can use our complementary superpowers in both of these companies in service of the complementary partnerships as well? Sure. I think one of the many things that really excites me about the journey ahead post-close is how, on the existing partnerships, the customer's job just mentioned. So, from looking through the lens of extension, say our synophic collaboration, is how can we leverage the combined capabilities to really accelerate and have further good depth to existing collaborations. But looking through the future is the end-to-end capabilities that the two organisations have been together and looking forward to how we can leverage additional relationships through this combination. Thanks, Dave.
Speaker Change: Sort of.
Speaker Change: Superpowers that both of these companies in service of the complementary partnerships as well.
Speaker Change: I think one of the.
Speaker Change: Many things that really excites me about about Virginia had post close as is how on the existing partnerships Christmas jobs just mentioned so from.
Speaker Change: I'm looking through the lens of expense you say, our Sanofi collaboration is how how can we kind of leverage.
Speaker Change: The combined capabilities to really accelerate and how it's not further.
Speaker Change: Further can adapt if you'd like.
Speaker Change: Two existing collaborations.
Speaker Change: But looking at the futures just the is the end to end capabilities that the two organizations together and looking forward to how we can leverage additional relationships through this through this combination.
Dave: Thanks, Dave.
Speaker Change: So finally, I want to talk a little bit about the platform. We're here in the Midland Park facility, where the automated synthesis platform of <unk> is running behind us and I've just been so impressed over the last few months and even the last few years as we've gotten to know this team by what they've been building true true extraordinary.
Christopher Gibson: So, finally, I want to talk a little bit about the platform we're here in the Milton Park facility where the automated synthesis platform of Exxionia is running behind us. And I've just been so impressed over the last few months, and even the last few years, as we've gotten to know, this team by what they've been building. True, true extraordinary depth in leveraging technology for precision chemistry. I don't think there are many organisations on Earth that are better at taking a program from hit to dev candidate, especially in the context of challenging chemistry where there are perhaps multiple different parameters that have to be optimised against at the same time.
Speaker Change: Larry deaths.
Speaker Change: In leveraging technology for precision chemistry, I don't think there are many organizations on Earth that are better at taking our program from hip to Dev, Canada, especially in the context of challenging chemistry, where there are perhaps multiple different parameters that have to be optimized against at the same time and with this new automated synthesis.
Christopher Gibson: And with this new automated synthesis platform that you see behind me, they're able to now integrate automation, robotics into that entire process. And we think, drive down the time, the cost, and increase the probability of success. And what's most important, I think, is this philosophy of design, make tests, and learn that they've built here at Exxionia, where not only will we be generating data that can improve the potential medicine in each program, but will be generating data that can be used to build algorithms that can understand difficult challenges in chemistry and admin and talks, and even data that can be used together with the data that recursion is generating cross-biology to really start to build these foundation models that have generalizable understanding of biology, of chemistry, of the interaction of those two.
Speaker Change: What form that you see behind me they are able to now integrate automation robotics into that into that entire process and we think drive down.
Speaker Change: Time, the cost and increase the probability of success and what's most important I think is this philosophy of design make test and learn that they've built here at Accenture, where not only will we be generating data that can improve the potential medicine in each program, but we will be generating data that can be used to build algorithm.
Speaker Change: They can understand difficult challenges in chemistry, and admin and talks and even data that can be used together with the data that reversion is generating across biology.
Speaker Change: To really start to build the foundation models that have generalizable understanding of biology of chemistry of the interaction of those two and when we put those platforms together.
Christopher Gibson: And when we put those platforms together, we really have built what we believe is the end-to-end solution. There's more to build, but we don't know of any other company in the space that has focused more on trying to build the full-stack solutions, with a philosophy of technology enablement at every step, a philosophy of data generation, evaluation, learning, and creating these virtuous cycles of iteration at every step. And we believe that this is the recipe for success in the biopharma field. We believe this is the experiment that we exist to run out of recursion, and I think in many ways, at Exxonia too, and that's why there's so much complementarity between the two organizations.
Speaker Change: We really have built what we believe is the end to end solution. There is more to build but we don't know of any other company in the space that has focused more on trying to build the full stack solution with a philosophy of technology enablement at every step a philosophy of data generation evaluation.
Speaker Change: <unk> learning and creating these virtuous cycles of iteration at every step and we believe that this is the recipe for success in the Biopharma field. We believe this is the experiment that we exist to run at a reversion in I think in many ways and essentially a tune thats why theres. So much complementarity between the two organizations I do want.
Can you just talk a little bit about the transaction details for those who are joining as you thought today.
Christopher Gibson: I do want to just talk a little bit about the transaction details for those who are joining. As you saw today, Exxonia shareholders will receive 0.7729 shares of recursion class A common stock for each share of Exxonia, assuming that the deal closes. If there's no new share issuance, that means post-close. Current recursion stockholders would own approximately 76 percent of the organization and current Exxonia shareholders would own approximately 24 percent of the organization.
Speaker Change: <unk> shareholders will receive 0.7 hundred 79 shares of <unk>.
Speaker Change: A common stock for each share of excess shift assuming that the deal closes.
Speaker Change: If theres no new share issuance that means post close current reversion stockholders would own approximately 76% of the organization and current accident year shareholders would own approximately 24% of the organization as we shared before the combined cash of the two companies at the end of Q2 was roughly 850 million.
Christopher Gibson: As we shared before, the combined cash of the two companies at the end of Q2 was roughly 850 million dollars, and given some of the operational synergies, the incredible discipline, frankly, that your team executes your work with that we know we can benefit from the deployment of our tools to make each of our other processes more efficient. We believe we can extend runway into 2027 in the combined entity, saving over $100 million annually.
Speaker Change: And given some of the operational synergies the incredible discipline frankly that your team executes your work with it we know we can benefit from the deployment of our tools to make each of our sort of other processes more efficient. We believe we can extend runway into 2027 and the combined entity saving over 100 million.
Speaker Change: Annually.
Speaker Change: It's important to also note that <unk> will be the go forward entity post close I will remain the CEO of the Postpose entity and Dave is going to join US as Chief Scientific officer of the post close entity. We also have two members of the Accenture Board, who will be joining the reversion board. So we really are combining these businesses.
Christopher Gibson: It's important to also note that recursion will be the go-forward entity post-close. I will remain the CEO of the post-close entity, and Dave is going to join us as chief scientific officer of the post-close entity. We also have two members of the Exxonia board who will be joining the recursion board. So we really are combining these businesses in a way that we think is going to really enable these two upstarts to take on a massive industry to try and bring medicines to patients more quickly and to drive down the price of medicines for patients in becoming decades. And that is, we believe something that's great for patients, for consumers, and certainly something that we're all excited about as a hard challenge with incredible impact. We expect that this transaction will close by early 2025.
Speaker Change: In a way that we think is going to really enable these two up starts to take on a massive industry to try and bring medicines to patients more quickly and to drive down the price of medicines for patients who've been coming decades and that is.
Speaker Change: We believe something that's great for patients for consumers in search.
Speaker Change: Something that we're all excited about is a hard challenge with incredible impact we expect that this transaction will close by early 2025 and of course. This is subject to the approval of the shareholders of both of the organizations and closing conditions.
Speaker Change: And with that I want to transition just a little bit to a few of the other updates from the last quarter certainly the big news today was this business combination you may see some tired eyes here, it's been a it's been it's been quite a couple of weeks to get this together, but we're so excited to be doing it. So excited to have this team joining us I do want to just mentioned some of the work that we've done.
Christopher Gibson: And of course, this is subject to the approval of the shareholders of both of the organizations and closing conditions.
Christopher Gibson: And with that, I wanted to transition just a little bit to a few of the other updates from the last quarter. Certainly the big news today was this business combination. You may see some tired eyes here. It's been it's been it's been quite a couple of weeks to get this together but we're so excited to be doing it. It's an extraordinary achievement and just huge thank you to the team back at Recursion who's been pulling away for the last two and a half years.
Speaker Change: A days ago, we were able to share that our partner that Roche and Genentech have auctioned. The first neuro map. This is an extraordinary extraordinary achievement and just huge thank you to the team back of recursion who's been toiling away for the last two and a half years, we become what we believe is the world's largest producer of neural Ips T cells.
Christopher Gibson: We've become what we believe is the world's largest producer of neural ITSC cells simply to service this particular Neuroman. We have knocked out every gene in the genome, we've explored hundreds or thousands of other perturbations in the context of these neural ITSC cells generating omics data on top of it. And we believe that from these data and our computational approaches, we will be able to potentially identify some extraordinarily exciting new targets in neuroscience and area that has just tremendous on met needs.
Speaker Change: Simply to service. This particular neuro about we have knocked out every gene in the genome.
Speaker Change: Explored hundreds or thousands of other perturbations in the context of these neural Ikea T cell generating AUM mix data on top of it and we believe that from these data on our computational approaches we will be able to potentially identify some extraordinarily exciting new targets in neuroscience an area that has just tremendous unmet need.
Speaker Change: And I think it's really validates the approach that <unk> has been building.
Christopher Gibson: And I think this really validates the approach that Recursion has been building. Next up, we'll be augmenting this with chemical perturbations. That has been opportunity to generate milestones that are even more significant if we're able to succeed in doing that and our colleagues at Rochene Tech accept that map. This is the first of many potential maps to come as part of this collaboration. And I'm just so proud of the team and having had a sneak peek at the map both ourselves and our friends at Rochene Tech.
Speaker Change: Next up we'll be augmenting this with chemical perturbations that has the opportunity to generate milestones that are even more significant if we're able to succeed in doing that and our colleagues at Roche Genentech, except that map. This is the first of many potential maps to come as part of this collaboration and I'm. Just so proud of the team and having had a sneak peek at the map.
Speaker Change: Both ourselves and our friend that restaurant attack I know that everybody is tremendously excited by some of the new biology that we're already seeing and now with this proposed business combination I know that we will be able to not only go after that novel biology, but we'll be able to bring best in class and first in class chemistry to bear so really really exciting day.
Christopher Gibson: I know that everybody is tremendously excited by some of the new biology that we're already seeing. And now with this proposed business combination, I know that we will be able to not only go after that novel biology, but we'll be able to bring best in class and first in class chemistry to bear. So really, really exciting day.
I want to mention just a little bit about our partnership with Bayer as you know we updated this partnership just a few months ago. We started working oncology in the first quarter of this year in Q2, we announced that the first joint project with rapidly heading towards lead series domination and we are now.
Christopher Gibson: I want to mention just a little bit about our partnership with Bayer. As you know, we updated this partnership just a few months ago. We started working on ecology in the first quarter of this year in Q2. We announced that the first joint project was rapidly heading towards lead series domination. And we are now sharing that we are on track to complete 25 unique multimodal data packages by the end of Q3.
Speaker Change: Now sharing that we are on track to complete 25 unique multimodal data packages by the end of Q3 and again with this partner I think we're gonna be able to deploy the tools of this collaboration this business combination very very well finally, our colleagues a buyer are the first users beta users of LOE, which is our.
Christopher Gibson: And again, with this partner, I think we're going to be able to deploy the tools of this collaboration, this business combination very, very well. Finally, our colleagues at buyer are the first users beta users of low, which is our large language model orchestration work engine, another potential opportunity for us to bring together some of our software tools tremendously excited about that.
Speaker Change: Our large language model orchestration work engine another potential opportunity for us to bring together some of our software tools is tremendously excited about that and finally next month in September we will be reading out the topline data for <unk> 99 for for CCM or cerebral cabinets malformation, we've talked about this.
Najat Khan: And finally, next month in September, we will be reading out the top line data for like 994 for CCM or cerebral tavernous malformation. We've talked about this in a lot of depth in the past, but we are very excited about this potential medicine, really a massive area of unmet need. I don't know if there's anything you want to add about this program, but. No, I mean, look, rare diseases in terms of having any standard of care, these patients, huge unmet need, the standard of care is not what it needs to be.
Speaker Change: And a lot of depth in the past, but we are very excited about this potential medicine really a massive area of unmet need John I don't know if theres anything you want to add about this program but.
Speaker Change: No I mean look.
Speaker Change: Their diseases in terms of having any standard of care of these patients huge unmet need and standard of care is not what it needs to be and on top of that you know the diagnosis you've seen this across the industry a lot of rare diseases. Once there is a therapy viable.
Najat Khan: And on top of that, you know, that I've noticed we've seen this across industry, a lot of rare diseases. Once there is a therapy viable, the diagnostic rate actually goes up, and you start to see a whole shift in that area in terms of other therapeutics that are coming to address the unmet needs to get very, very excited for next month to see the results. Primary safety and tolerability, and then also looking at some of the earlier.
Speaker Change: Ignostic rate actually goes up and you're starting to see a whole shift in that area in terms of other therapeutics that are coming to address the unmet needs to get very very excited for next month to see the results primary safety and Tolerability and then also looking at some of that already.
Speaker Change: Thanks Angela.
Christopher Gibson: Thank you, John. And finally, on our broader pipe, we've already hinted at this before, with the 10 potential programs that are going to be reading out, but we've got detailed information here and on our website around the specific timings of the seven clinical trial readouts that we've already given guidance around here at Recursion. So this is really an exciting day for us. We continue to, I believe, really boldly chase this vision of trying to leverage technology to discover and develop medicines. We've got incredible partnerships, an incredible platform. We've got a fantastic pipeline and now I think a fantastic business combination in the works, and we are very, very excited for the coming borders.
Speaker Change: And finally on our broader pipeline, we've already hinted at this before with the 10 potential programs that are going to be reading out but.
Speaker Change: We've got detailed information here and on our web site around the specific timing of the seven clinical trial Readouts that we've already given guidance around here at <unk>.
Speaker Change: So this is really an exciting day for US we continue to I believe really boldly chase. This vision of trying to leverage technology to discover and develop medicines, we've got incredible partnerships and incredible platform. We've got a fantastic pipeline and now I think a fantastic business combination in the works and we are.
Operator: I think with that, we're going to go ahead and transition over to questions, which I know are coming in.
Speaker Change: Very very excited for the coming quarters, I think with that we're going to go ahead and transition over to questions, which I know are coming in.
Speaker Change: Alright, we've got Scott Who's asking even though there is no competitive overlap is there anything to be learned from each other's internal pipelines that can allow you to accelerate the advancement of your programs regarding the Accenture business combination.
David Hallett: All right, we've got Scott who's asking, even though there is no competitive overlap, is there anything to be learned from each other's internal pipeline that allow you to accelerate the advancements of your programs regarding the Accentia business combination? You know, Dave, we've talked a lot about this, deploying our tools for each other's programs. Do you want to give your insight here? Sure, I think post-close, I think, one of the things that motivates me is the combination of the data.
Speaker Change: Talked a lot about this deploying our tools for each other's programs do you want to give your insights here.
Speaker Change: Yes.
Speaker Change: I think post close.
Speaker Change: One of the things that motivates me.
Speaker Change: The combination of the data so we're a learning organization, saying with that <unk>.
David Hallett: So we're a learning organisation, saying what recursion is. And so every program that we execute on, every piece of data that we bring in house allows us, our operating system to actually kind of, to learn and to get better. Imagine the kind of, the excitement about actually kind of bringing the data, the huge data sets and the confidence that recursion have been generating particular last few years with the kind of, not only the pipeline that's visible today, but the kind of, the pipeline that sits within our partnerships.
Speaker Change: So every program with it that we are.
Speaker Change: Executing on every piece of data that we bring in house allows us the us operate system to actually kind of them to learn and to get better.
Imagine that kind of a the.
Speaker Change: The excitements about kind of bringing.
Speaker Change: The huge datasets and the competence of the vacation have been generating particularly last few years with a kind of not only the pipeline its physical today, but that kind of the pipeline that sits within our partnerships. That's a huge amount of information that you didn't think you'd want it takes it that we can kind of leverage to both benefit them current partners future partners and also kind of pipeline as it can.
David Hallett: That's a huge amount of information that you can use my data that we can kind of leverage to both benefit current partners, future partners, and also our kind of pipeline as it goes forward. Yeah. And maybe if I could just add very specifically, you know, we look at PDK7, there are PDK's, there are putips on the market, right? And let's face it, the response is not the same for all patients, there's resistors, mechanisms, so many things that we need to understand from a patient stratification, patient selection perspective.
Speaker Change: Yeah, and maybe if I could just add very specifically you know we look at CDK seven bearish CDK therapeutics on the market right and.
Speaker Change: Let's face it. The response is not the same for all patients they see resistance mechanisms. So many things that we need to understand from a patient stratification patient selection perspective, that's really Persian with Tempus partnership that we've done already in the last six months identified novel targets in non small cell lung cancer and other areas you can possibly I and many other algorithms that we've developed.
David Hallett: That's a recursion with the 10th partnership that we've done already in the last six months, identified novel targets in non-small for lung cancer in other areas. You can solve the AI and many other algorithms that we've developed. Now think of the merger of the two, just to say, how do we design these really important programs, for PDK7 and other programs in a much more effective way? Precision medicine at the core is being able to predict the right patient, the right type is for the right patient, the right time. And I think there's a lot we can do to shape the industry, leveraging real programs for patients in a near end. Thanks, Ajahn. Thank you, Scott, for the question.
Speaker Change: I think of the merger of the two to say how do we design. These really important programs for CDK seven other programs at a much more effective way.
Speaker Change: Decision medicine at the port at being able to predict the right patient at the right type is that the right tissue because I chime in I think there's a lot we can do to shape the industry leveraging VM programs for patients in EMEA and with that thank.
Speaker Change: Thank you John Thank you Scott for the question, let's go to Aurora, who asks following <unk> acquisition of cyclical and valence in 2023, what is the vision to integrate essentially gen AI capabilities in the New company as John mentioned to you because I know you've spent a lot of time not only in diligence last few months a few weeks, but also working with.
Najat Khan: Let's go to a roar who asks, following recursion acquisition of Cyclocat and Balanced in 2023, what is the vision to integrate Accentia Genai capabilities in the new company? Ajahn, I'm going to turn to you, because I know you spend a lot of time not only in diligence last few months or few weeks, but also working with fitness world, working with our internal teams on the Genai vision that we have. Do you want to talk a bit about that?
This world working with our internal teams on the jet AI vision that we have do you want to talk a bit about me accidently.
Speaker Change: So in terms of generative AI, especially let's talk about it in the molecular design space you know there's hit Chile. This need optimization most of the times, we end up getting really challenge in the industry for small molecules around lead optimization, but thought it would be.
Najat Khan: Absolutely. So in terms of generative AI, especially, let's talk about it in the molecular design space. Here is HIT, Chile, this lead optimization. Most of the times we end up getting really challenging the industry for small molecules around lead optimizations. We wouldn't be, you know, this trade-off for some other parameter. So what Exxayansia has from using active learning end to end to improve the multi-parameter optimization, which is the problem that we're trying to solve, we want to be able to integrate that into what we do at resursion today.
Speaker Change: As you know.
Speaker Change: This trade off for some other parameter. So let me tell what experience you have xiaomi using active learning and to end with a multi parameter optimization, which is the problem that we're trying to sell we want to be able to integrate that into what we do at nutrition today not only that he wanted to earn it because if you can actually solve that problem in here.
Najat Khan: Not only that, we want to go early, because if you can actually solve the problem and hit to lead with some of the solutions that Dave and his team have developed, that will improve our probabilities of success and history is even better. The last point I want to mention is I get the question all the time. Whenever you integrate two platforms, isn't there a lot of integration challenges? This is the beauty of it, where we said a lot of time indulgence.
Speaker Change: To lead with some of the solutions that.
Speaker Change: That Dave and his team have developed that will improve our probability of success in hitting even better.
One point I want to mention because I get this question all the time whenever you integrate two platforms isn't there a lot of integration challenges and this is the beauty of it but we spent a lot of time intelligence. It's been built in a modular way, which means we can be agnostic to the best models, whether it's inside our tables or outside to make sure we have the best.
Najat Khan: It's been built in a modular way, which means we can be agnostic to the best models, whether it's inside our two homes or outside to make sure we have the best really molecule to go to our portfolio, of statewide. So that's some of the ways we're thinking about integrating it. And last thing, you know, some of the, you know, we've said mostly only data that we have. We've also been at that, um, ex-cientia. And the team has already started looking at ways to integrate that. So we're very, very excited. There's so much work to do.
Speaker Change: The molecules to go to my portfolio. Okay. So that's some of the ways, we're thinking about integrating it and last thing you know, let me say most of the only state that we have will also benefit <unk> and the team has already started looking at these to integrate that so we're very very excited there's so much work to do and can't wait to get started thank you John.
Operator: Um, and can we get started?
Speaker Change: Let's go to Alex who asks how do you plan to leverage essentially as automated laboratories well.
Operator: Thank you, John.
David Hallett: Uh, let's go to Alex who asked, how do you plan to leverage essentially as automated laboratories? Well, it's a great time to answer that question since we're sitting in them right now. Um, so I think this is really, really important.
Speaker Change: A great time to answer that question since we're sitting in them right now.
Speaker Change: So I think this is really really important David I had a very long talk about this during during the time that we spend in diligence and I think really this team has done an incredible job of building a state of the art automated synthesis platform and really the only one that I'm aware of that has integrated this vision of using active learning machine learning to be able to drive.
Christopher Gibson: David and I had a very long talk about this during, during the time that we spent indiligence. And I think really this team has done an incredible job of building a state-of-the-art automated synthesis platform. And really the only one that I'm aware of that has integrated this vision of using active learning, um, machine learning to be able to drive very flexible decision making throughout the process of synthesis. And then through the other side of the ex-physical U-shaped platform to be able to drive the molecules that come out of the automated synthesis platform into a brilliant biochemical aspect.
Speaker Change: Flexible decision, making throughout the process of synthesis and then through the other side of the physical U shaped platform to be able to drive the molecules to come out of the automated synthesis platform into a variety of biochemical assets.
Speaker Change: This is technology that reversion has not built we have built incredible technology that can take a potential small molecule unexplored biological functions across these large scale multi omics datasets.
Christopher Gibson: This is technology the recursion has not built. We have built incredible technology that can take a potential, a small molecule and explore its biological functions across these large-scale multi-omics data sets. Binding these data sets, we think, just like combining the tempest data set with patients just gives us this extraordinary opportunity to build models that have the potential to learn not across one layer of biology or chemistry but across many.
Speaker Change: Finding these datasets, we think just like combining the tempus dataset with patients just gives us extraordinary opportunity to build models that have the potential to learn not across one layer of biology chemistry, but across many what I think is important probably to notice that this facility is now up and running we believe.
Christopher Gibson: What I think is important probably to note is that this facility is now up and running. We believe it should stay up and running. We should build it out from here. And we're going to continue building the biology organization in Salt Lake City. We do believe that the learning from this platform could be used in the future to help us build a next generation micro synthesis facility that we can tack on to the platform we built in Salt Lake City.
Speaker Change: It should stay up and running we should build it out from here.
Speaker Change: And we're going to continue building the biology organization in Salt Lake City.
Do believe that the learnings from this platform could be used in the future to help us build our next generation micro synthesis facility that we can tack on to the platform. We built in Salt Lake City, where smaller quantities of a larger number of more flexible molecules is going to be better for kind of exploring chemical space with our pheno mix and transcriptome its platform.
Christopher Gibson: We're smaller quantities of a larger number of more flexible molecules. It's going to be better for kind of exploring chemical space with our phonomics and transcriptomics platforms. But I think what they've built here and the team, frankly, that they've assembled around this platform here truly, truly extraordinary. And I think it's going to give us the ability to drive specific programs in a much more differentiated way. I mean, I was struck through diligence by how few compounds this team synthesizes while achieving best and class status very often from sort of hit to to dev candidate.
Speaker Change: But I think what they've built here and the team frankly that they've assembled around this platform here truly truly extraordinary and I think it is going to give us the ability to drive specific programs in a much more differentiated way I mean I was struck through diligence by how few compounds. This team synthesizes, while achieving best in class status.
Speaker Change: Very often for sort of hit to Canada, it's dramatically lower than the industry average and we this is this is a great example of how we're going to find ways to kind of bring down the cost of the organization. We are great at finding hits for novel Biology, and when we get into chemistry, we have an incredible team, but because we built last tooling we operate at.
Christopher Gibson: It's dramatically lower than the industry average. And we this is this is a great example of how we're going to find ways to kind of bring down the cost of the organization. We are great at finding hits for novel biology. And when we get into chemistry, we have an incredible team. But because we've built less tooling, we operate at an efficiency that's closer to the industry average. At the same time, we know that our colleagues at Accentia are fantastic and incredibly efficient at driving chemistry from hit to dev candidate through lead optimization.
Speaker Change: Inefficiency thats closer to the industry average at the same time, we know that our colleagues at Accenture here are fantastic and incredibly efficient in driving chemistry from hits to Dev candidate through lead optimization, but they spend a lot on kind of the outsourcing of various <unk> and others around the early stage biology and hit discoveries by combining our platforms we built.
Christopher Gibson: But they spend a lot on kind of the outsourcing of very CROs and others around the early stage biology and hit discoveries. By combining our platforms, we believe we're going to be able to bring the most efficient technology and able to approach across the entire process of discovering and translating these medicines. And that frankly is going to make us not only a powerful organization, but I think one that is going to be extraordinarily efficient. This closed loop design makes us learn platform that's literally set up behind us, so designing molecules in the cloud, but not only making the molecules, but in a target-centric way actually generating data against them.
Speaker Change: We're gonna be able to bring the most efficient technology enabled approach across the entire process of discovering and translating these medicines and that frankly is going to make us not only a powerful organization, but I think one there's going to be extraordinarily efficient.
Speaker Change: Maybe it's.
Speaker Change: Just a little bit kinetic.
Speaker Change: This closed loop design makes us limb platform this literally sat behind us.
Speaker Change: Designing molecules in the cloud, but normally making the molecules.
Speaker Change: And Italian centric way actually generating data against them.
Speaker Change: So.
Speaker Change: Is an interesting idea that Christoph and I talked about intelligence is the oxy post close.
Christopher Gibson: So, here's an interesting idea that Chris Tot and I talked about in diligence is that obviously post-close. If you look at what what Cyclic have done and basically with their matchmaker tool in terms of predicting kind of ligand protein interactions on scale is actually to help kind of better underpin those models by actually making some of those and generating some of those and actually generating data, experimental data, especially underpin those predictions and further improve those generalizable models. I think there's hundreds of ways that basically this particular design-make test loop kind of and a lot that stays behind us and would benefit and the future combination.
Speaker Change: Look at kind of what.
Speaker Change: Cyclic I've done and basically what that must make a tool in terms of.
Speaker Change: Predicting kind of Lincoln protein interactions on scale.
Speaker Change: He is actually to help kind of bathroom to pin those models biopsy.
Speaker Change: You're making some of those in generating some of those in that so you can overshoot generating data experimental data.
Speaker Change: So actually independent predictions in February privileged generalizable models.
Speaker Change: I think there's hundreds of ways that basically this particular design make test loop kind of.
Speaker Change: Lots of it sits behind us.
Speaker Change: With benefits and the future combination I agree alright.
Speaker Change: Alright next up we're going to go to money, who ask what do you see as the bar for efficacy in the upcoming Sycamore readout in CCM for that I'm going to turn back to you in the jaw charts now in terms of our Sycamore study I mean primary endpoint is safety and Tolerability.
David Hallett: I agree.
Najat Khan: All right, next up we're going to go to Monty who asks, what do you see as the bar for efficacy in the upcoming Ciccomor readout in CCM for that? I'm going to turn back to you, Najat. Sure. So, in terms of a Ciccomor study, I mean primary endpoint and safety and tolerability, so that's something we're going to be watching very closely. In terms of the efficacy, we have two different types of categories of endpoints that we're looking into.
Najat Khan: One is very objective, MRI-based endpoint, so for instance looking at lesion volume and support. And then the other is PLOs. These PLOs are extremely important to patients, so for instance CCM called index, which is something that was recently developed in many other aspects. We're going to be looking at both of those. And on the third piece I will mention because again, this is a signal finding, signal seeking study as we're looking at various different doses is looking at some of the biomarkers.
Speaker Change: So that's something we're going to be watching very closely in terms of the efficacy. We have two different types of categories of endpoints that we're looking into one is very objective MRI based endpoint. So for instance, looking at lesion volume and so forth.
And then the other is P. R O I D. P. R O is extremely important to patients.
Speaker Change: For instance, CCM Health Index, which is something that was recently developed and many other if that's if they're going to be looking at both of those and then the third piece I will mention because again. This is a signal finding signal seeking study has been looking at various different doses.
Speaker Change #100: Looking at some of the biomarker and she's going to be important for I understand what's happening to the basket as Europe, what's happening to the inflammation and so forth. So those are the three areas that we're going to be.
Najat Khan: It's going to be important to understand what's happening to the vasculature, what's happening to the inflammation and so forth. So those are the three areas that we're going to be focusing on. Thanks, Najat. No, I think that's great.
Speaker Change #101: No I think that's I think that's great I will say just from a safety and Tolerability perspective, the vast majority of patients in this trial have already rolled into the long term extension, which gives us a lot of confidence on that side of things next I want to go to a question I believe from coli quest.
Najat Khan: I will say just from a safety and tolerability perspective, the vast majority of patients in the trial have already rolled into the long-term extension, which gives us a lot of confidence on that side of things.
Operator: Next, I want to go to a question I believe from Cole. A question from Cole who asked, sorry, we just, there we go, who asked around the biggest bottleneck in drug development is clinical trial process. And as much as I want to answer this question, I'm going to start with the last six years doing exactly this at her at her former employer.
Question from KOL, who asked.
Speaker Change #102: Who asked sorry, even just what they're Mcgill who asked.
Speaker Change #103: Around the biggest bottleneck in drug development as clinical trial process and as much as I want to answer this question.
Speaker Change #103: The last six years doing exactly this at her at her former.
Speaker Change #104: Employer job. Please take us through your vision for this part of the platform. So Paul I'm. So glad you asked this question I Love. This question backdrop for everybody watching with 70% to 80% time fast is actually spent in development, where does that get spent two areas.
Najat Khan: Najat, please take us through your vision for this part of the platform. So Cole, I'm so glad you asked this question. I love this question. Backed up for everybody watching when 70 to 80% time passed is actually spent in development. A word is actually spent two areas. One is the design of the trial. You have to design it right. This is your precision medicine something. And then the other is the trial execution, which is what you're looking for, I think in terms of the trial process site selection, getting the trial executed.
Speaker Change #105: One is the design of the trial you would have to divine. It right. This is a precision medicine something and then the other is the trial execution, which is what you're alluding to I think in terms of the trial process that selection and getting the trials execute it. So one of the things that we're working on in addition to all of this is building out the AI capabilities and test capabilities.
Najat Khan: So one of the things that we're working on in addition to all of this is building out the AI capabilities and tech capabilities on the clinical development side. So number one for clinical trial design is really using multimodal data, where we'll data such as temperature, but much more in order to be much more effective in terms of how we design our progress. No, in which patients to treat finulating inclusion exclusion criteria. So we don't do what a lot of industry suffers from, which is many protocol amendments, which leads to time, time and yet patients are waiting.
Speaker Change #106: On the clinical development side, so number one for clinical trial design is really using multimodal data real world data, such as Tampa, Phoenix, but much more in order to be much more effective in terms of how we design our programs, knowing which patients to treat simulating inclusion exclusion criteria. So we don't do what a lot of it.
Speaker Change #107: She felt was strong which has many protocol amendments, which leads to time cost and yet patients are leading the second parkman clinical trial operations I'll give you. An early example of our 40 <unk> one program Max and one in D. C. We actually used global data machine learning and just in time sites, what does that all mean basically it means.
Najat Khan: The second part is clinical trial operations. I'll give you an early example for our 480-1 program, X1 and ADC. We actually used verbal data, machine learning, and just in time sites. What does that all mean? Basically, it means instead of using the traditional processes today, which is you go to a site and say, how many patients do you think you have that fits this criteria, you actually use all the claims and verbal data to be able to understand where the eligible patient population is synonymized, but you engage with the PI's early, a much more proactive approach.
Speaker Change #108: Instead of using the traditional processes today, especially if you go to a sense of how many patients do you think could happen fit. This criteria you actually use all of the claims available data to be able to understand where the eligible patient population is.
Speaker Change #109: So normalize that you engage with the Pea is a much more proactive approach and we were able to deploy that cohort from what will take four to six months to 46 weeks that is just one small example, but watch for the next few months using much more of these innovative approaches where we can pull in our recruitment timelines that we can get medicines to patients.
Najat Khan: And we were able to recruit that cohort from what we take 46 months to 46 weeks. That is just one small example. But watch for the next few months of using much more of these innovative approaches, where we can pull in our recruitment timeline, so we can get mentioned.
Speaker Change #108: Got you.
Speaker Change #110: Great and we're going to finish up here with a final question from Marcel who asks could you share more on potential our ongoing efforts to years and platform for preventative health care, specifically are there plans to develop drugs are formed strategic partnerships aimed at reducing the risk of diseases like cancer or neurodegenerative conditions, such as dementia, and Alzheimer's and I think for ourselves. This is a fantastic question.
Christopher Gibson: Great, and we're going to finish up here with a final question from Marcel who asks, could you share more on potential or ongoing efforts to years and platform for preventative health care? Specifically, are there plans to develop drugs or form strategic partnerships aimed at reducing the risk of diseases like cancer, or neurodegenerative conditions such as dementia and Alzheimer's?
Christopher Gibson: And I think Marcel, this is a fantastic question and really is part of the vision of what we're building at Recursion. We already have programs that are targeting genetics diseases that are essentially genetic diseases that are predispositions to cancer. That's already in our fight. We very deeply believe that there is a huge opportunity to go after areas in neuroscience like neurodegeneration, and well, we cannot speak to specific diseases that we could be tackling alongside our fantastic partners of risked genetic.
Speaker Change #111: And really is part of the vision of what we're building at for Hershey.
We already have programs that are targeting genetic diseases that are essentially genetic diseases that are predispositions to cancel.
Speaker Change #112: That's already in our plan.
Very deeply believes that there is a huge opportunity to go after areas in neuroscience like nerve degeneration of well we cannot speak to specific diseases that we could be tackling alongside our fantastic partners at Roche Genentech. We certainly do agree that that is a really really important part of the future and I think what's so compelling about what were bill.
Christopher Gibson: We certainly do agree that that is a really, really important part of the future. And I think what's so compelling about what we're building at Recursion and what we believe will be able to build together is that these maps of biology are not just giving us insights into one pathway or a couple of proteins that are interacting. We are building maps that are showing us the causal model of how biology itself is operating inside many different kinds of cells.
Speaker Change #113: <unk> ever Hirschmann, what we believe will be able to build together is that these maps of biology are not just giving us insights into one pathway or a couple of proteins that are interacting we're building maps that are showing us the causal model of how biology itself is operating inside many different.
Speaker Change #114: <unk> of cells, and we can start to understand extraordinarily complex interplay of different pathways. The way the different pathways are regulating each other and my belief my fundamental belief the founding belief of recurs.
Christopher Gibson: And we can start to understand this extraordinarily complex interplay of different pathways, the ways that different pathways are regulating each other. And my belief, my fundamental belief, the founding belief of Recursion was that this biology is fundamentally too complex for any human to understand, and that we would have to deploy technology, enable, enablement across our entire process to really start to understand the way biology is interacting in truth, not the way we can put it on the whiteboard or put it into a nature paper.
Speaker Change #115: This biology is fundamentally too complex for any human to understand and that we would have to deploy technology enable enablement across our entire process to really start to understand the way biology interacting in truth not the way we can put it on a whiteboard or put it into a nature paper and.
Speaker Change #116: The same philosophy holds with our colleagues here at Accenture chemists are incredible they can do incredible things, but it is very difficult for humans to hold in their head a 40 parameter multi optimization problem. It's a very difficult thing to do technologies like machine learning give you the capability to actually start to see.
Christopher Gibson: And I think the same philosophy holds with our colleagues here at Accenture. Chemists are incredible. They can do incredible things. But it is very difficult for humans to hold in their head a 40 parameter multi-optimization problem. It's a very difficult thing to do. Technologies like machine learning give you the capability to actually start to simultaneously optimize against dozens or maybe hundreds of parameters. And that's just something humans are not able to do. And I think this similar philosophy of biology on chemistry coming together gives this company true, true potential to deliver on the kinds of preventative medicine that you allude to.
Speaker Change #117: Simultaneously optimize against dozens or maybe hundreds of parameters and that's just something humans are not able to do and I think the similar philosophy of biology, and chemistry coming together.
Speaker Change #118: It gives this company true true potential to deliver on the kinds of preventative medicine that you alluded to.
Speaker Change #119: That I want to thank everybody for joining our learnings to all so thankful for your team for hosting US here. So excited for the combination that we're putting together and we like I always say, we're 10 11 years into this and it still feels like the beginning everyday degree. Thanks, everybody. Thank you so much.
Operator: So with that, I want to thank everybody for joining Art Learning Install.
Operator: So thankful for your team for hosting us here. So excited for the combination that we're putting together.
Operator: And we, like I always say, we're 10, 11 years into this and it still feels like the beginning every day. Thanks everybody.
Operator: Thank you so much.