RE Ventures

RE Ventures is a rare-disease drug discovery joint venture originally formed by Rallybio and Exscientia to develop novel small molecule therapies, combining Rallybio\u2019s disease-area expertise with Exscientia\u2019s AI-enabled drug discovery capabilities. The venture was established through at least two Delaware entities, RE Ventures I, LLC and RE Ventures II, LLC. Its best-documented program is an orally available ENPP1 inhibitor program for hypophosphatasia, which produced lead candidate REV102 and advanced into IND-enabling studies in 2025. Following Recursion\u2019s acquisition of Exscientia and a July 8, 2025 transaction in which Recursion\u2019s subsidiary bought Rallybio\u2019s remaining interest in RE Ventures I, that entity became an indirect wholly owned subsidiary of Recursion. RE Ventures appears to function more as a program-focused JV vehicle than as a broad standalone operating biotech company.