Recursion Pharmaceuticals to spin off Alpha Biotechnology.

Recursion Pharmaceuticals, a clinical-stage biotechnology company, agreed to spin off Alpha Biotechnology, an Austrian biotech company. Financial terms were not disclosed. "Recursion announced it will carve out its Austrian operations into a newly formed company, Alpha Biotechnology GmbH (“Alpha”). Recursion will have a 49% ownership in Alpha, a company leveraging a patient-tissue platform for the development of precision therapeutics for the treatment of hematological and solid cancers, while focusing its efforts and moderating spend," Recursion statement.