Recursion Opens Child Care Center to Support Employees

SALT LAKE CITY, July 12, 2021 /PRNewswire/ — Recursion (NASDAQ: RXRX), a clinical-stage biotechnology company decoding biology by integrating technological…

SALT LAKE CITY, July 12, 2021 /PRNewswire/ — Recursion (NASDAQ: RXRX), a clinical-stage biotechnology company decoding biology by integrating technological innovations across biology, chemistry, automation, machine learning and engineering, today announced the opening of its child care center, adjacent to Recursion’s Salt Lake City headquarters.

«To say that I think the childcare situation in the US is a problem is an understatement. It is one of the greatest barriers in the pursuit of an equal and equitable society. My belief, and Recursion’s belief, is that employers have a responsibility to be part of the solution,» said Recursion Chief People Officer Heather Kirkby. «I just emerged from what I call the ‘chaos years’ of being a working mother with my youngest turning six. I’m proud to work for a company that’s willing to commit to supporting working parents in such a meaningful way.»

Bright Horizons, the country’s largest provider of employer-sponsored child care, will provide child care for Recursion employees’ children from infancy through five years old. Opening a child care center for employees has been a long-standing goal for the company. Co-Founder and CEO Chris Gibson, PhD, personally faced challenges in finding reliable child care early in his career. A lack of access to child care providers nearly forced him to choose between becoming a stay-at-home father or starting Recursion, until an opening serendipitously became available at his local Bright Horizons child care center.

Recursion previously announced plans to open a center in the second half of 2020, which were delayed as a result of the pandemic. Bright Horizons’ 7th Annual Modern Family Index Report shows increased stress levels and concern among parents surrounding their children’s development and wellbeing as an effect of the Covid-19 pandemic, making accessible daycare even more important during the transition back to in-person work. Accompanying the official opening of its child care center, Recursion is proud to have joined the TIME’S UP Care Economy Business Council. The CEBC is a coalition of large corporations, small businesses, entrepreneurs and investors working to shift the cultural narrative around who is responsible for care.

Recursion aims to provide access to affordable, dependable and convenient child care as a benefit for working parents. Helping employees solve the childcare puzzle is an essential ingredient to building a diverse workforce, which is one of Recursion’s greatest commitments in pursuit of achieving its audacious mission. Accessible child care also helps to create equity among employees, and encourages a sense of belonging. According to various studies, only 4 to 6 percent of U.S. employers offer child care centers or programs, whether subsidized or unsubsidized (see the Society for Human Resource Management). Utah also ranks as one of the three most difficult states for child care access, setting Recursion apart as an employer that understands the unique challenges that working parents face in Salt Lake City.

«Recursion’s decision-making process for building a child care center underscores the environment facing all employers – they continue to need to support working parents so they can be their most productive selves at work,» says Bright Horizons Chief Executive Officer Stephen Kramer.  «The pandemic may have paused the mobilization of their child care center, but it ultimately served to amplify the fact that parents need high quality early education and care for their children regardless of where they work. Recursion, like many leading employers, has long recognized that an investment in child care is a critical investment in their workforce and in the future. The past year and a half has only served to bring that into sharper focus. We are proud to partner with Recursion in supporting their working parent employees and helping to develop the next generation.»

About Recursion

Recursion is a clinical-stage biotechnology company decoding biology by integrating technological innovations across biology, chemistry, automation, machine learning and engineering. Our goal is to radically improve the lives of patients and industrialize drug discovery. Central to our mission is the Recursion Operating System, which combines an advanced infrastructure layer to generate what we believe is one of the world’s largest and fastest-growing proprietary biological and chemical datasets. We combine that with the Recursion Map, a suite of custom software, algorithms and machine learning tools that we use to explore foundational biology unconstrained by human bias and navigate to new biological insights. Learn more at www.recursion.com, or connect on Twitter and LinkedIn.

About Bright Horizons

Bright Horizons® is a leading global provider of high-quality child care and early education, back-up care, and workplace education services. For more than 30 years, we have partnered with employers to support workforces by providing services that help working families and employees thrive personally and professionally. We operate approximately 1,000 child care centers in the United States, the United Kingdom, the Netherlands, and India, and serve more than 1,300 of the world’s leading organizations. Bright Horizons’ child care centers, back-up child and elder care, and workforce education programs, including tuition program management, education advising, and student loan repayment, help employees succeed at each life and career stage. For more information, go to www.brighthorizons.com.

Press Contact

Jenna Barbari – Communications Coordinator

Jenna.Barbari@Recursion.com

Investor Relations Contact

InvestorRelations@Recursion.com

Forward Looking Statements

This press release contains information that includes or is based upon «forward-looking statements» within the meaning of the Securities Litigation Reform Act of 1995. Forward-looking statements provide our expectations or forecasts regarding future events. You can identify these statements by the fact they do not relate strictly to historical or current facts. They may use words such as «anticipate,» «estimate,» «expect,» «project,» «intend,» «plan,» «believe,» and other terms of similar meaning in connection with a discussion of future operating or financial performance. In particular, forward-looking statements include statements relating to intended future actions; plans with respect to clinical trials and preclinical activities; prospective products or product approvals; future performance or results of anticipated products or technology; expenses; our ability to obtain, maintain and enforce intellectual property protections and financial results; in addition to other topics. Any or all of our forward-looking statements here or elsewhere may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements and from expected or historical results. Many such factors will be important in determining our actual future results. Consequently, no forward-looking statement can be guaranteed. In particular, you should read the discussion in the «Risk Factors» section in our Prospectus filed with the U.S. Securities and Exchange Commission (SEC) on April 16, 2021 and in our periodic filings with the SEC. Other factors besides those listed could also adversely affect the company. We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future developments or otherwise, except to the extent required by applicable law. These forward-looking statements (except as may be otherwise noted) speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. You are advised to consult any further disclosures we make on related subjects in our reports to the SEC.

 

 

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