AbCellera and Atlas Venture Collaborate to Empower the Development of Impactful Medicines for Patients

Rhea-AI Summary

AbCellera (Nasdaq: ABCL) has partnered with Atlas Venture to discover therapeutic antibodies for up to three drug targets. The collaboration allows a stealth-stage company backed by Atlas to develop and commercialize these antibodies, leveraging AbCellera's advanced technology for faster drug discovery. Under the agreement, AbCellera will receive research payments and potential milestone payments, enhancing its revenue generating capabilities. Both companies emphasize a commitment to create impactful medicines efficiently and effectively.

Positive

• New multi-target partnership with Atlas Venture to discover therapeutic antibodies.
• Opportunity for AbCellera to receive research and milestone payments.
• Collaboration expected to speed up drug development, enhancing competitive advantage.

Negative

• None.

Atlas' stealth-stage company will leverage AbCellera’s technology to start and advance new drug programs with enhanced speed and capital efficiency

VANCOUVER, British Columbia & CAMBRIDGE, Mass.--(BUSINESS WIRE)-- AbCellera (Nasdaq: ABCL) and Atlas Venture announced a multi-target partnership to discover therapeutic antibodies for up to three drug targets that can be developed and commercialized by a stealth-stage Atlas-backed company. The collaboration leverages Atlas’ proven track record in forming innovative biotechnology companies and AbCellera’s unique ability to quickly deliver lead drug candidates to bring transformational new medicines to patients faster.

"AbCellera’s clinically validated platform lets us start discovery in a virtualized model that aligns well with our capital efficient investment strategy,” said Steven Robinette, Ph.D., Venture Partner at Atlas Venture. “This partnership supports our approach to value creation by allowing us to focus on building companies that aim to deliver impactful medicines to patients.”

“Atlas has proven expertise in finding and transforming innovative scientific research into exciting new biotechs,” said Carl Hansen, Ph.D., CEO and President of AbCellera. “By eliminating their need to build internal antibody discovery capabilities at inception, we provide newly launched biotech ventures with a competitive advantage that empowers them to move faster and increase their probability of success. We look forward to working alongside Atlas’ entrepreneurs to unlock their breakthrough science and create new therapies for patients in need.”

Under the terms of the agreement, Atlas’ portfolio company will have the right to develop and commercialize therapeutic antibodies resulting from the collaboration. AbCellera will receive research payments and will be eligible to receive clinical and commercial milestone payments and royalties on net sales of products.

About Atlas Venture

Atlas Venture is a leading biotech venture capital firm. With the goal of doing well by doing good, we have been building breakthrough biotech startups for over 25 years. We work side by side with exceptional scientists and entrepreneurs to translate high impact science into medicines for patients. Our seed-led venture creation strategy rigorously selects and focuses investment on the most compelling opportunities to build scalable businesses and realize value. For more information, please visit www.atlasventure.com.

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/20220803005076/en/

AbCellera

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: Melanie Solomon; ir@abcellera.com, +1(778)729-9116



Atlas

Kristen Margeson, Vice President of Investor Relations and Marketing; lifesciences@atlasventure.com, +1(857)201-2700

Source: AbCellera Biologics Inc.

FAQ

What is the recent partnership involving AbCellera (ABCL)?

AbCellera has announced a partnership with Atlas Venture to discover therapeutic antibodies for up to three drug targets.

How does the partnership with Atlas Venture benefit AbCellera (ABCL)?

The partnership allows AbCellera to receive research payments and potential milestone payments, enhancing its revenue potential.

What type of drug targets will AbCellera (ABCL) focus on with Atlas Venture?

AbCellera will focus on discovering therapeutic antibodies for up to three drug targets in collaboration with Atlas Venture.

What does the partnership mean for drug development speed at AbCellera (ABCL)?

The collaboration is expected to increase the speed of drug development by leveraging AbCellera's technology.