Recursion Pharmaceuticals revised its Tempus master agreement, setting $14,000,000 annual fees for its third, fourth and fifth anniversaries, with at least $4,000,000 in cash. For investors, the amendment removes convenience termination, reduces accessible records and extends the term, while a separate TxFM license brings $12,000,000 in fees.

Key Highlights

  • The amended Tempus agreement runs for six years instead of five and removes Recursion Pharmaceuticals’ convenience termination right.
  • Annual payments for the third, fourth and fifth anniversaries are now $14,000,000 each, with at least $4,000,000 payable in cash.
  • Tempus received a two-year oncology license for the TxFM Model, with $12,000,000 due in two installments.

RECURSION PHARMACEUTICALS, INC. (NASDAQ: RXRX) is a biotechnology company. The company revised its agreement with Tempus AI, Inc. (NASDAQ: TEM) replacing the previous annual-fee structure with $14,000,000 payments for each of the third, fourth and fifth anniversaries of the effective date.

Tempus Agreement Reworks Fees and Access

The amendment lengthens the agreement from five years to six years and removes Recursion Pharmaceuticals’ ability to end it for convenience. Under the earlier terms, annual license fees were $22,000,000 on the first anniversary, $32,000,000 on the second, and $42,000,000 on both the third and fourth anniversaries. The revised payments are at least $4,000,000 in cash, with the balance payable in Class A Common Stock, cash or a combination chosen by the company. The amendment also reduces the aggregate number of unique de-identified data records Recursion Pharmaceuticals may access during the agreement. The license lasts two years, and Tempus will pay a non-refundable $12,000,000 fee in two $6,000,000 installments.