12:07 PM EDT, 07/08/2025 (MT Newswires) -- (Updates with stock moves in the headline and the first paragraph.)

Recursion Pharmaceuticals ( RXRX ) shares rose nearly 12% and Rallybio ( RLYB ) was up 37% in recent Tuesday trading after Recursion said it has acquired Rallybio's ( RLYB ) full interest in their joint program of the therapy REV102, which is intended as a treatment for hypophosphatasia.

Under the terms of the deal, Rallybio ( RLYB ) is eligible to receive $7.5 million in upfront equity, a contingent equity payment of $12.5 million upon initiation of further preclinical studies and a $5 million milestone payment with the start of dosing in a phase 1 clinical study, as well as low single-digit royalties on future sales and possible payments in connection with any sale of the drug.

Hypophosphatasia is a rare, often fatal ailment leading to the rapid mineralization of bones.

REV102 is a drug candidate designed to be an orally administered therapy that has demonstrated a "favorable" safety profile in preclinical studies, with phase 1 clinical trials expected in H2 2026, the company said.

Price: 5.52, Change: +0.59, Percent Change: +11.87