Recursion Pharmaceuticals has entered into two agreements with Tempus AI, Inc., expanding their collaboration. The company amended its existing master data access agreement and executed a new deal to license its proprietary TxFM RNA sequencing model to Tempus for use in oncology.
Key Details
- TxFM License Agreement: Recursion granted Tempus a 2-year, non-exclusive license to its TxFM Model for oncology applications, receiving a $12 million non-refundable fee payable in two $6 million installments.
- Amended Master Agreement: The term of the existing data access agreement was extended from five to six years, and Recursion's right to terminate for convenience was eliminated.
- Revised Financial Terms: Annual license fees payable by Recursion were revised to $14 million for years three, four, and five. The total number of de-identified data records accessible by Recursion will be decreased under the amended terms.