AbCellera and AbbVie Partner to Advance New Antibody Therapies

Rhea-AI Summary

AbCellera (Nasdaq: ABCL) has initiated a strategic collaboration with AbbVie (NYSE: ABBV) targeting the development of therapeutic antibodies. This multi-year partnership aims to leverage AbCellera's innovative antibody discovery capabilities for up to five targets across various indications. AbCellera will receive research payments, clinical milestones, and royalties from product sales, indicating potential significant revenue streams. CEO Carl Hansen emphasized the collaboration's focus on solving complex antibody discovery challenges to address critical health issues.

Positive

• Strategic collaboration with AbbVie, enhancing R&D capabilities.
• Potential revenue from research payments, milestone payments, and royalties.
• Focus on developing therapeutic antibodies for serious health issues.

Negative

• None.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- AbCellera (Nasdaq: ABCL) announced today that it has entered into a multi-year, multi-target strategic collaboration with AbbVie Inc. (NYSE: ABBV). The partnership will leverage AbCellera’s antibody discovery and development engine to deliver optimized development candidates for up to five targets selected by AbbVie across multiple indications.

“This collaboration with AbbVie is another example of how AbCellera can extend the R&D capabilities for enabled pharmaceutical companies,” said Carl Hansen, Ph.D., founder and CEO of AbCellera. “Together with AbbVie, we aim to tackle some of the most difficult antibody discovery problems to help address patients’ most serious health issues.”

Under the terms of the agreement, AbbVie has the right to develop and commercialize therapeutic antibodies resulting from the collaboration. AbCellera will receive research payments and is eligible to receive downstream clinical and commercial milestone payments and royalties on net sales of products.

About AbCellera Biologics Inc. 
AbCellera is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera partners with drug developers of all sizes, from large pharmaceutical to small biotechnology companies, empowering them to move quickly, reduce cost, and tackle the toughest problems in drug development. For more information, please visit www.abcellera.com.

AbCellera Forward-Looking Statements 
This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations.

In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.

Source: AbCellera Biologics Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221215005196/en/

Media: Jessica Yingling, Ph.D.; media@abcellera.com, +1(236)521-6774

Business Development: Murray McCutcheon, Ph.D.; bd@abcellera.com, +1(604)559-9005

Investor Relations: Josephine Hellschlienger, Ph.D.; ir@abcellera.com, +1(778)729-9116

Source: AbCellera Biologics Inc.

FAQ

What is the recent collaboration between AbCellera and AbbVie about?

AbCellera announced a multi-year collaboration with AbbVie to develop therapeutic antibodies for up to five targets.

What benefits can AbCellera expect from its partnership with AbbVie?

AbCellera will receive research payments, milestone payments, and royalties on net sales from the collaboration with AbbVie.

How does the collaboration with AbbVie impact AbCellera's future?

The collaboration is expected to enhance AbCellera's R&D capabilities and open new revenue streams from therapeutic antibody development.

Which companies are involved in the antibody discovery collaboration?

The collaboration involves AbCellera and AbbVie, focusing on antibody discovery and development.