AbCellera Launches Second Phase of Global Headquarters Expansion to Advance Capabilities for Bringing New Medicines from Target to the Clinic

Rhea-AI Summary

AbCellera (Nasdaq: ABCL) has commenced the second phase of its global headquarters expansion in Vancouver, Canada, with a new 380,000-square-foot tech campus. This facility will enhance lab and office capabilities to support the company's objectives in antibody-based medicine development. The expansion aims to accommodate its growing workforce of over 450 employees and advance its integrated solutions for biopharma partners. The completion of this facility is planned for 2025, following the first phase scheduled for late 2023.

Positive

• Launch of a 380,000-square-foot tech campus will enhance laboratory and office capabilities.
• Expansion supports AbCellera's growth, facilitating more efficient drug development processes.
• The project will create new job opportunities, attracting top-tier talent in the industry.

Negative

• None.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- AbCellera (Nasdaq: ABCL) today announced it has launched the second phase of its global headquarters expansion by breaking ground on its new facility in Vancouver, Canada. The 380,000-square-foot tech campus will include state-of-the-art lab and office spaces to support AbCellera’s capabilities in bringing new antibody-based medicines from target to the clinic. The expansion will accommodate the growth of AbCellera’s existing 450+ person team and the investments into forward integration of translational science, process development, and clinical manufacturing capabilities.

“With our current capabilities, we are able to find optimal clinical antibody candidates with greater precision and speed, ultimately helping our partners bring medicines to patients sooner,” said Murray McCutcheon, Ph.D., SVP, Corporate Development at AbCellera. “Upon completion of this expansion, AbCellera will stand alone in providing a fully integrated solution for partners to bring novel antibody-based medicines from target to the clinic. For many partners, integration allows them to focus resources on their core business.”

AbCellera empowers its emerging biopharma partners to advance discovery programs without having to build the underlying capabilities, teams, and infrastructure. For its large biopharma partners, AbCellera’s integrated technologies allow intractable programs to be unlocked seamlessly within a single platform.

“We are recruiting for positions across the organization and continue to attract top-tier talent who are excited to do meaningful work that helps advance innovative new medicines for patients,” said Matthew Kenning, VP, GMP Manufacturing at AbCellera. “For experienced process development and clinical manufacturing professionals, AbCellera represents a unique opportunity to apply their expertise and integrate clinical manufacturing as an essential part of the antibody discovery and development process.”

AbCellera broke ground on the first phase of its global headquarters in the heart of Vancouver — a 170,000-square-foot facility at 150 West 4th Avenue being developed in 50/50 partnership with Dayhu — in April 2021, with occupancy expected in late 2023. The second facility, which is directly adjacent to the first, is a 210,000-square-foot building at 110 West 4th Avenue. AbCellera is developing it in a 50/50 partnership with Beedie, with completion scheduled for 2025. The two facilities are located a short distance away from the site of AbCellera’s planned 130,000-square-foot clinical manufacturing facility, which was announced in June 2021.

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/20220921005283/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: Melanie Solomon; ir@abcellera.com, +1(778)729-9116

Source: AbCellera Biologics Inc.

FAQ

What is the significance of AbCellera's new headquarters expansion?

The new 380,000-square-foot facility in Vancouver will enhance AbCellera's capabilities in developing antibody-based medicines, accommodating growth for its workforce and partnerships.

When is the completion date for AbCellera's new facility?

The completion of AbCellera's second facility is scheduled for 2025.

How many employees does AbCellera currently have?

AbCellera currently has over 450 employees, and the new expansion will support further growth.

What is the purpose of AbCellera's tech campus expansion?

The expansion aims to enhance AbCellera's capabilities in antibody-based medicine development, providing integrated solutions for its biopharma partners.