Pharma BD Deal Intelligence
Tempus AI and Recursion Pharmaceuticals amended and extended their 2023 data license agreement through November 2029 and entered a new license for the Recursion RNA foundation model. The previously discretionary annual license fees owed by Recursion, which could have totalled US$84 million over two years, were replaced with guaranteed annual license fees of US$14 million payable on each of the third, fourth and fifth anniversaries of the effective date, US$42 million in total, with at least US$4 million of each fee payable in cash. Recursion extended the term from five to six years and eliminated its right to terminate for convenience. In the reciprocal leg, Recursion granted Tempus a worldwide non-exclusive license to its proprietary RNA sequencing foundation model TxFM. DATA NOTE: this is a bidirectional data and model cross-license; the buyer field records Recursion as the party committing the US$42 million in license fees. Consideration for the TxFM leg was not verified against a primary source and is therefore not recorded.
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