Recursion Pharmaceuticals Inc at Goldman Sachs Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Salveen Richter - Goldman Sachs - Analyst : Yeah. And I -- this is so timely because there's been a lot of talk about this world of -- or the convergence of health care and -- or tech or AI machine learning and -- especially in the context of generative AI recently. So maybe help us understand how to think about this big picture of where healthcare is merging with this space on these tools and then how companies are different. And there will be -- if one were to go and analyze the company, what is it that really matters? How do they properly assess one of these (multiple speakers)

Question: Salveen Richter - Goldman Sachs - Analyst : And then just to put that in context, computational biology has been around for a while and one could argue that's the beginning of this convergence. But are we here now? Like are some companies here now -- and some aspects of it? I mean, why the excitement now? What exactly is going on in the field that we should say -- okay, healthcare is ready and we're seeing this integration thing now?

Question: Salveen Richter - Goldman Sachs - Analyst : If you touch on what you mentioned prior, which is these acquisitions that you've made -- Cyclica as well as Valence -- Can you just talk about the significance of these developments and then how you intend to integrate those tools (multiple speakers). REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 13, 2023 / 8:20PM, RXRX.OQ - Recursion Pharmaceuticals Inc at Goldman Sachs Healthcare Conference

Question: Salveen Richter - Goldman Sachs - Analyst : So let's turn to the clinical pipeline where you have a slew of Phase 2 compounds as well as a Phase 1 new chemical entity. And you had an update today? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 13, 2023 / 8:20PM, RXRX.OQ - Recursion Pharmaceuticals Inc at Goldman Sachs Healthcare Conference

Question: Salveen Richter - Goldman Sachs - Analyst : And so maybe just help us understand where this portfolio is going and where the lead programs are right now in development?

Question: Salveen Richter - Goldman Sachs - Analyst : Great. And help us or just lay out the number of patients, the measures -- like how we should think about this Phase 2 data read and the translation to proof of concept for your platform, given this is an in-license program. So how much of that translates over?

Question: Salveen Richter - Goldman Sachs - Analyst : And remind us, what would be viewed as clinically meaningful in this population?

Question: Salveen Richter - Goldman Sachs - Analyst : Maybe switching over to your new chemical entity for C. difficile. How safety and the PK profile inform the forward path here?

Question: Salveen Richter - Goldman Sachs - Analyst : And then you have an NF2 program. And how do we think there about the key clinical measure and there seem to be a bunch of different trials that are being run maybe more in NF1 than NF2. But I don't know if there's any read-through from the work that's been done there.

Question: Salveen Richter - Goldman Sachs - Analyst : When will we see data from that trial?

Question: Salveen Richter - Goldman Sachs - Analyst : And then finally, your FAP program -- just remind us on the trial design there and then how we should think about that first read of dataset? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 13, 2023 / 8:20PM, RXRX.OQ - Recursion Pharmaceuticals Inc at Goldman Sachs Healthcare Conference

Question: Salveen Richter - Goldman Sachs - Analyst : And remind us why you decided to go in those specific mutations. Was there something through your Recursion LS program that kind of guided you to that subset?

Question: Salveen Richter - Goldman Sachs - Analyst : If I ask the question about the -- if you look at drug development historically, it is one thing to design and to drug or to find the target, then there's a whole process around development and running that clinical trials. How do you -- when you kind of parsed out where you're bringing in technology and where you end up having to rely on old school drug discovery and development, how do you think about those different periods in the drug cycle? How do you -- can you use this OS system in any way to design the trials -- to better design the trials?

Question: Salveen Richter - Goldman Sachs - Analyst : But those four programs we talked about -- any chance you could put some timelines on data?

Question: Salveen Richter - Goldman Sachs - Analyst : Let's turn to partnerships here, and talk about how important that is to your future -- these large biopharma partnerships (technical difficulty) bring in tools to also integrate with what you have?

Question: Salveen Richter - Goldman Sachs - Analyst : With that, let me open it up to the audience for any questions. Unidentified Participant As you mentioned, a lot of companies in the AI lever space were more so focused on having differentiated chemistry against validated targets. And so now when you're thinking about your novel next-generation program, so maybe the inferential search based on the new chemical entities, novel targets, how much insight do you think that you can get from early data reads that will really give you confidence that the drug is working, especially if you're not going against validated targets?

Question: Salveen Richter - Goldman Sachs - Analyst : Great. With that, Chris, thank you so much.