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Recursion Pharmaceuticals entered into an amendment to its Master Agreement with Tempus AI, extending the term from…
RXRXRecursion Pharmaceuticals, Inc.
Recursion Pharmaceuticals entered into an amendment to its Master Agreement with Tempus AI, extending the term from five to six years and eliminating Recursion's right to terminate for convenience. The amendment revised Annual License Fees to $14 million payable on each of the third, fourth, and fifth anniversaries, requiring at least $4 million in cash per payment. Simultaneously, Recursion granted Tempus a non-exclusive license to its TxFM Model for oncology applications in exchange for a $12 million fee paid in two installments of $6 million. Recursion Pharmaceuticals operates in the biotechnology industry, utilizing AI and robotics to discover new medicines.