Bayer could exit the drug discovery technology developer should it complete an initial public offering on the Nasdaq Global Select Market.
US-based drug discovery technology developer Recursion Pharmaceuticals has filed to raise $100m in an initial public offering that would allow pharmaceutical and chemicals group Bayer to exit.
Founded in 2013, Recursion uses machine learning technology to research and develop drug treatments for health conditions such as cancer, neurological diseases and inherited disorders. It also claims to have built the largest biological image dataset for drug discovery research in the world.
The company will use the proceeds from the offering…
