Pharma BD Deal Intelligence
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An estimated 6.2 million Americans age 65 and older are living with Alzheimer's dementia in 2021. Of those, 72% are 75 or older. Total payments in 2021 for…
Recursion Pharmaceuticals signed a drug discovery deal with Roche's Genentech worth up to $12 billion in milestones across up to 40 programs in neuroscience…
Recursion is acquiring Exscientia in a $1.7 billion all-stock deal, bringing together two of the most prominent AI drug discovery platforms three years after…
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Roche and Genentech entered a transformational, 10+ year drug-discovery collaboration with Recursion (Nasdaq: RXRX) on December 7, 2021, leveraging the Recursion OS image-based AI/ML platform across neuroscience and a single gastrointestinal-oncology indication. Recursion received $150M upfront and is eligible for up to ~$300M+ per program across up to 40 programs, with potential aggregate value exceeding $12B. The collaboration is active and has been executing on its option-and-milestone structure: Roche/Genentech optioned a first GI-oncology program in October 2023, optioned a first neuroscience phenomap (~$30M) in August 2024, and in October 2025 accepted a second neuroscience phenomap - a whole-genome CRISPR knockout map built from 100B+ iPSC-derived microglia - triggering another $30M milestone. As of full-year 2025, Recursion has received $213M in cumulative upfront and milestone payments under the deal, with six Phenomaps accepted and one small-molecule program initiated. (Recursion, separately, merged with Exscientia in August 2024 in a ~$688M all-stock deal, but the Roche/Genentech collaboration continues independently.)
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Roche Holding AG / Recursion Pharmaceuticals, Inc. (this deal) | 2021 | $12.0B | — |
| Roche Holding AG / Chugai Pharmaceutical Co. Ltd. | 2002 | $1.4B | 100 |
| Roche Holding AG / Ventana Medical Systems Inc. | 2008 | $3.4B | 88 |
| Roche Holding AG / Corange Ltd. (Boehringer Mannheim Group) | 1997 | $11.0B | 88 |
| Roche Holding AG / Ventana Medical Systems Inc. | 2007 | $3.4B | 88 |
| Roche Holding AG / Foundation Medicine, Inc. | 2015 | $1.1B | 87 |
| Roche Holding AG / Foundation Medicine, Inc. | 2018 | $5.3B | 85 |
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More: 2021 deals · Roche Holding AG deals · Neurology deals