Tempus and Recursion Extend Data Partnership Through November 2029

Tempus AI, Inc. (TEM ) announced on September 21, 2026 that it has extended its data license agreement with Recursion Pharmaceuticals, Inc. (RXRX ) through November 2029, and that the two companies have entered into a separate agreement under which Tempus will license Recursion’s RNA foundation model. In connection with the extension, the parties agreed to amend the Annual License Fees payable under their original Master Agreement, replacing discretionary license fees potentially totaling US$84 million over the next two years with committed payments totaling $42 million over the next three years, Tempus said. The company said the two share a mission to use foundation models to advance precision medicine and first established their collaboration in 2023.

According to a Form 8-K filed with the U.S. Securities and Exchange Commission on September 21, 2026 under Item 1.01, Entry into a Material Definitive Agreement, both the amendment and the new license agreement were entered into on September 15, 2026. The report was signed by Nathan Hatfield, Recursion’s Chief Legal Officer, and states that the full text of each agreement will be filed as an exhibit to Recursion’s quarterly report on Form 10-Q for the quarter in which it was executed.

“We are thrilled to extend our collaboration with Recursion beyond the initial committed period, demonstrating the ongoing value of this partnership,” said Ryan Fukushima, CEO, Data & Apps at Tempus.

Amended Data Agreement Terms

The Master Agreement between Recursion and Tempus is dated November 3, 2023 and was previously disclosed in a Recursion 8-K filed on November 9, 2023. According to the new filing, the agreement carried a five-year term and allowed Recursion to terminate for convenience after the first three years. It specified Annual License Fees of $22 million on the first anniversary of the Effective Date, $32 million on the second anniversary, and $42 million on each of the third and fourth anniversaries, which could be paid 100% in shares of Recursion’s Class A common stock at Recursion’s election.

Under the amendment, Recursion agreed to extend the term from five to six years from its effective date and to eliminate its right to terminate the agreement for convenience. The amendment revises the Annual License Fees to $14 million payable on each of the third, fourth and fifth anniversaries of the Effective Date, with at least $4 million of each fee payable in cash and the remainder in shares of Recursion’s Class A common stock, cash, or a combination of the two, at Recursion’s election. The amendment also decreases the aggregate total of unique records of de-identified data that Recursion may access during the term.

TxFM Model License

Under the RNA Foundation Model License Agreement, also executed on September 15, 2026, Recursion granted Tempus a non-exclusive, non-sublicensable, non-transferable, worldwide license to its TxFM Model solely for use within the field of oncology. Permitted uses include diagnostic applications, clinical applications, and Tempus’s internal research and development, and the license has a term of two years from its effective date. Tempus will pay Recursion a non-refundable license fee of $12 million in two installments of $6 million each, the first due upon execution and the second due on the first anniversary of the effective date. Tempus will also provide Recursion with access to a certain number of de-identified pathology records with linked clinical data during the term, according to the filing.

Recursion has described TxFM as a transcriptomics foundation model designed to connect lab perturbations with patient biology within the Recursion OS. In its first-quarter 2026 results report, issued May 6, 2026, the company said the model, presented at the ICLR Workshop on Foundation Models for Science, was trained on a large, curated dataset of public and proprietary data and outperforms 16 leading foundation models and baselines, including models trained on datasets 10 to 100 times larger. Recursion said the model supports target identification, mechanistic understanding and patient stratification, and that its batch correction and denoising capabilities reduce experimental re-runs and enable cross-experiment comparisons.

In the same report, Recursion said research and development expenses decreased to $87.9 million for the first quarter of 2026 from $129.6 million a year earlier, a decline it attributed primarily to lower platform costs resulting from the timing of Tempus record purchases and to improved operating efficiency. The company said the first quarter of 2025 included $27.1 million in non-cash expenses for the use of patient-centric multimodal oncology data within its R&D pipeline.

Recursion first announced the data collaboration on November 9, 2023, stating that it had reached an agreement with Tempus for preferred access to what it called one of the world’s largest proprietary, de-identified, patient-centric oncology datasets, spanning DNA, RNA, health records and more, totaling more than 20 petabytes. Recursion said the data would support the discovery of potential biomarker-enriched therapeutics at scale through the training of causal AI models. Under that agreement, Recursion was to pay Tempus up to $160 million in cash or equity over five years in exchange for continued and updated data access and use rights for therapeutic development purposes. Recursion also said at the time that it would have aggregate access to approximately 50 petabytes of proprietary data across biology, chemistry and real-world patient-centric data for training large-scale AI and machine learning models.

“We share Recursion’s commitment to a data-first approach to precision medicine,” Eric Lefkofsky, founder and CEO of Tempus, said in the 2023 announcement.