Roche option triggers $30M payment to Recursion for Microglia Map

Rhea-AI Filing Summary

Recursion Pharmaceuticals (RXRX) reported that Roche exercised its option for Recursion’s Microglia Map, described as a first-of-its-kind whole genome map of the brain’s immune cells. Under their 2021 collaboration with Genentech, Inc. and F. Hoffmann-La Roche Ltd, Recursion will receive an Acceptance Fee of $30 million.

This milestone reflects progress within the Roche–Recursion collaboration and results in a cash inflow to Recursion tied to delivery of the Microglia Map under the agreement.

Insights

Biopharma partnerships analyst

$30M Roche option exercise adds non-dilutive cash to RXRX

Roche exercised its option on Recursion’s Microglia Map, triggering an Acceptance Fee of $30 million under their collaboration dated December 5, 2021. This indicates acceptance of a delivered dataset within the scope of the agreement.

The payment represents non-dilutive cash tied to a defined milestone, without equity issuance. While strategically notable, the excerpt lists only the fee and acceptance event, with no added development timelines or downstream economics.

Key takeaways are the confirmed cash inflow and validation step within the collaboration. Any further financial impact would depend on subsequent collaboration activities, which are not detailed in the provided excerpt.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 29, 2025

RECURSION PHARMACEUTICALS, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-40323

46-4099738

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

41 S Rio Grande Street

Salt Lake City, UT 84101

(Address of principal executive offices) (Zip code)

(385) 269 - 0203

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading symbol(s)			Name of each exchange on which registered
Class A Common Stock, par value $0.00001 per share			RXRX			Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

On October 29, 2025, Recursion Pharmaceuticals, Inc. (the “Company” or “Recursion”) announced the exercise of the option by Roche (as defined below) for a Microglia Map—a first-of-its-kind whole genome map of the brain’s immune cells—generated by Recursion under the Collaboration and License Agreement with Genentech, Inc. and F. Hoffmann-La Roche Ltd (collectively “Roche”) dated December 5, 2021 (the “Agreement”). Pursuant to the terms of the Agreement, Roche will pay to the Company an Acceptance Fee of $30 million.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on October 29, 2025.

			RECURSION PHARMACEUTICALS, INC.
			By:			/s/ Christopher Gibson
						Christopher Gibson
						Chief Executive Officer

FAQ

What did RXRX announce regarding its collaboration with Roche?

Recursion announced that Roche exercised its option for the Microglia Map generated under their collaboration.

How much will Recursion (RXRX) receive from the Roche option exercise?

Recursion will receive an Acceptance Fee of $30 million.

What is Recursion’s Microglia Map?

It is a first-of-its-kind whole genome map of the brain’s immune cells (microglia) generated by Recursion.

Which entities are involved in the collaboration with Recursion?

The collaboration involves Genentech, Inc. and F. Hoffmann-La Roche Ltd (collectively, Roche).

When was the collaboration agreement with Roche signed?

The agreement is dated December 5, 2021.

What is the cash impact of this announcement for RXRX?

The event results in a $30 million cash inflow to Recursion as an Acceptance Fee.

What filing reported this event for RXRX?

It was reported in a Form 8-K under Other Events.