Recursion in its acquisition of Cyclica for US$40 million




$US40 million


Mergers and Acquisitions

Date Closed

May 2023


Pharmaceuticals, Biotech and Life Sciences

Lead Office



On May 8, 2023, Recursion entered into an agreement to acquire Cyclica for US$40 million. Together with the concurrent acquisition of Valence Discovery, the strategic acquisitions add industry-leading capabilities in digital chemistry, as well as machine-learning and artificial intelligence, to Recursion’s large-scale automated wet-laboratories and supercomputing capabilities, enabling Recursion to deploy the most complete, technology-enabled drug discovery solution in the biopharma industry.

Recursion is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery.

As a neo-biotech, Cyclica is efficiently advancing an industry-leading, robust and sustainable drug discovery portfolio focused on CNS, oncology, and auto-immune diseases.

Osler, Hoskin & Harcourt LLP advised Recursion with a team consisting of Alex Gorka, John Groenewegen, Neil Rosen and Robert Valentini (Corporate), Steven Dickie and Irmak Aydemir (Employment and Labour), Dov Begun, Taylor Cao and Clemence Chu (Tax), Jonathan Marin and Jonathan Wypych (Benefits), Adam LaRoche and Catherine Hart (Privacy), Sandra Sbrocchi and Marah Smith (Osler Works – Transactional).