Square 1 Bank provided a $4 million credit facility to new client Recursion Pharmaceuticals.

Proceeds from the facility will be used to purchase new equipment and supplement Recursion’s recent $15.05 million Series A round of funding.

Based in Salt Lake City, Recursion Pharmaceuticals employs a platform that leverages biological science, computation and artificial intelligence to discover treatments for rare genetic disease and other conditions which can be modeled in human cells.

“Square 1 has been a great banking partner in every sense of the word; professional, experienced and willing to develop a tailored solution to meet our needs,” said John Pereira, COO at Recursion.

“In three short years, Recursion’s strong management team and innovative platform have established the company as a true leader in its field,” said Rilus Graham, senior vice president in Square 1’s Life Sciences practice. “Square 1 is excited to continue to grow our presence in Salt Lake City through our support of Recursion and its mission to treat 100 diseases in 10 years.”