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Christopher Gibson. He\\u2019s the co-founder and CEO of Recursion Pharmaceuticals, a biotech company leveraging the latest automation, computation and biological tools to perform drug discovery at scale. Chris holds a BS in bioengineering, a BA in managerial studies, and a bioengineering PhD from the University of Utah.

Famous Five:

• Favorite Book? \\u2013 The Hard Thing About Hard Things
• What CEO do you follow? \\u2013\\xa0 Perry Fell
• Favorite online tool? \\u2014 Slack
• Do you get 8 hours of sleep?\\u2014 5.3 to 5.4
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 Chris wished he knew where he was going to go so he could get to where he is now, faster

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Time Stamped Show Notes:

• 01:42 \\u2013 Nathan introduces Chris to the show
• 02:12 \\u2013 Recursion shortcuts the long, arduous path of drug discovery into the market
• • 02:24 \\u2013 Recursion combines the best elements of biology, automation, and computation
• 02:34 \\u2013 Recursion partners with large pharmaceutical companies
• 02:45 \\u2013 Recursion partnered with Sanofi Genzyme
• • 02:51 \\u2013 Sanofi had drugs that didn\\u2019t end up in the market
• 03:10 \\u2013 The challenges involved in being target-based
• 04:00 \\u2013 Recursion earns from partnerships and royalties
• • 04:20 \\u2013 Recursion also has an internal pipeline for the drugs that they\\u2019ve developed themselves
  • 04:43 \\u2013 Recursion doesn\\u2019t earn from the internal pipeline
• 05:51 \\u2013 Recursion and what they receive from their partners
• • 06:28 \\u2013 There are partnerships with very, little upfront
  • 06:34 \\u2013 There are partnerships that have 8 figures, upfront
  • 06:46 \\u2013 The number of scientists that will work on the drug is also considered
  • 07:22 \\u2013 If Recursion is successful with their deals, they get royalties
  • 08:38 \\u2013 The royalties\\u2019 lifeline
• 08:56 \\u2013 Recursion has 40 people\\xa0
• 09:25 \\u2013 Recursion was launched in 2013
• • 09:34 \\u2013 They sat in their office until January 2014
• 10:01 \\u2013 Chris was part of a program where he was paid a stipend, so he broke even
• 10:20 \\u2013 Chris\\u2019 parents were excited about his PhD
• 10:37 \\u2013 Recursion has raised $19M in equity and $5M non-diluted from grants and private foundations
• 11:28 \\u2013 Recursion\\u2019s valuation as a platform company
• • 12:14 \\u2013 If Recursion will be successful, they will impact the society in a big way
  • 12:41 \\u2013 It is vision-based
• 12:54 \\u2013 First year revenue was 6 figures
• 13:12 \\u2013 \\u201cOur deals have been strategic in terms of the way we put them together\\u201d
• 13:45 \\u2013 2017 target
• 16:10 \\u2013 The Famous Five

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3 Key Points:

• Different sources of revenue benefit a company.
• The valuation of your company depends on how your company is currently performing and how well they will perform in the industry.
• First year revenue isn\\u2019t always nil.

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Resources Mentioned:

• The Top Inbox\\xa0 \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Organifi \\u2013 The juice was Nathan\\u2019s life saver during his trip in Southeast Asia
• Klipfolio \\u2013 Track your business performance across all departments for FREE
• Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\\xa0\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\\xa0\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
• Freshbooks \\u2013 Nathan doesn\\u2019t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
• Show Notes provided by Mallard Creatives