AbCellera, Viking Global Investors, and ArrowMark Partners Collaborate to Launch New Biotech Companies
AbCellera, Viking Global Investors, and ArrowMark Partners have collaborated to launch new biotech companies focusing on advancing antibody drug programs. The partnership aims to create assets in the area of immunology, with Viking and ArrowMark overseeing program selection and funding, while AbCellera leverages its expertise in discovering and developing antibody medicines. Successful programs will lead to the creation of new companies, with AbCellera participating as an equity founding partner.
Collaboration between AbCellera, Viking Global Investors, and ArrowMark Partners to advance new antibody drug programs and launch biotech companies.
Focus on addressing unmet medical needs in autoimmune disorders and other diseases through innovative medicines.
Utilization of AbCellera's technology and expertise in antibody discovery and development to accelerate program advancement.
Creation of Newcos through successful programs, with Viking and ArrowMark funding work through to company launch.
Potential challenges in program development, including clinical trial uncertainties and regulatory hurdles.
Risks associated with biotech investments such as delays in product development or failure of programs.
Possible dilution of shares for AbCellera shareholders due to equity participation in the new companies.
The collaboration brings together Viking and ArrowMark’s expertise in early-stage investing and company creation with AbCellera’s engine for discovering and developing antibody medicines. Under the collaboration, ArrowMark and Viking will lead the initial process of program selection, followed by joint determination of the therapeutic product profile and AbCellera’s initiation of new antibody drug programs. AbCellera will advance programs to development candidates and has an option to conduct cGMP manufacturing to support Phase 1 clinical trials. Successful programs will be further developed through the creation of Newcos, with Viking and ArrowMark funding work through to company launch.
“The next generation of drug targets requires the best technology to unlock their potential. We aim to address the significant unmet medical need in the lives of patients struggling with autoimmune disorders and other diseases,” said Tony Yao, M.D., Ph.D., Life Science Portfolio Manager at ArrowMark. “AbCellera is the proven technology leader in the space, and with its full, in-house drug development capabilities it can advance programs from concept to IND-enabling studies with speed and precision.”
"Successful biotech companies are created from a special alchemy of science, business, technology, talent, and capital,” said Carl Hansen, Ph.D., founder and CEO of AbCellera. “Our strategic alliance with Viking and ArrowMark brings strong relationships and complementary strengths to a common mission — launching new companies and creating innovative new medicines that move the needle for patients in need."
Under the terms of the collaboration, Viking and ArrowMark will be majority shareholders of the Newcos, and AbCellera will participate as an equity founding partner with the potential for milestones and royalties on future sales of each product.
About AbCellera Biologics Inc.
AbCellera (Nasdaq: ABCL) discovers and develops antibody medicines for indications across therapeutic areas including cancer, metabolic and endocrine conditions, and autoimmune disorders. AbCellera’s engine integrates technology, data science, infrastructure, and interdisciplinary teams to solve the most challenging antibody discovery problems. AbCellera is focused on advancing an internal pipeline of first-in-class and best-in-class programs and collaborating on innovative drug development programs with partners. For more information, please visit www.abcellera.com.
About ArrowMark Partners
ArrowMark Partners is a privately held, employee-owned investment management firm founded in 2007 and headquartered in
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240501764172/en/
Inquiries
Media: Kathleen Reid; 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 collaboration between AbCellera, Viking Global Investors, and ArrowMark Partners about?
What areas will the first two programs focus on?
What role will AbCellera play in the collaboration?
Who will lead the initial process of program selection?