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AbCellera Biologics Inc. (Nasdaq: ABCL) is a trailblazer in the Canadian biotechnology sector, specializing in the accelerated discovery of monoclonal antibody (mAbs) therapeutics. The company leverages cutting-edge microfluidic technology to address the complexities of identifying and developing effective antibodies from single immune cells. This breakthrough approach enables high-throughput analysis, expediting the process of bringing new therapies to patients who need them the most.
AbCellera's core business revolves around its integrated antibody discovery and development platform, which combines proprietary technologies, expert teams, and data-driven methodologies. This platform empowers AbCellera to identify and optimize clinical candidates with unparalleled speed and precision, offering a competitive edge to its partners. The company's strategic partnerships span emerging biotechs and leading pharmaceutical firms, aimed at tackling the most challenging issues in drug development.
Among its recent achievements, AbCellera presented groundbreaking data on its T-cell engager (TCE) programs at the Society for Immunotherapy of Cancer Annual Meeting. The innovative TCE platform includes novel CD3-binding antibodies engineered to fine-tune T-cell responses, thereby enhancing the efficacy and safety profiles of cancer therapies. AbCellera's research is breaking new ground in immuno-oncology, with promising results in targeting prostate-specific membrane antigen (PSMA) and melanoma-associated antigen 4 (MAGE-A4).
Financially, AbCellera reported $38 million in total revenue for 2023, alongside significant investments in research and development. Despite a net loss that reflects its aggressive growth strategy, the company remains well-positioned with approximately $1 billion in available liquidity. This financial stability supports continued innovation and expansion, particularly in advancing internal programs and strategic partnerships.
AbCellera is committed to overcoming traditional barriers in antibody drug discovery, aiming to deliver better medicines faster. The company's robust pipeline and forward-looking strategies make it a significant player in the biotech industry, poised to make a lasting impact on global healthcare.
Tachyon Therapeutics and AbCellera have entered a collaboration to discover and develop an antibody targeting LEFTY1, a drug target in advanced cancers. AbCellera will receive milestone payments and royalties from products derived from its discovery platform. Additionally, the company can invest in development stages for a larger share of sales. This partnership allows for innovative advancements in cancer treatment and potentially impacts patient care significantly.
AbCellera (NASDAQ: ABCL) will release its second quarter 2021 financial results on August 12, 2021, followed by an earnings call at 2:00 PM PT (5:00 PM ET). The earnings call will be accessible via a live webcast on AbCellera’s Investor Relations website. The company specializes in discovering and analyzing antibodies for drug development, collaborating with various pharmaceutical and biotechnology partners. For more details, visit www.abcellera.com.
AbCellera (Nasdaq: ABCL) has appointed Neil Berkley as Chief Business Officer, focusing on expanding its partnership business, which includes over 100 programs with various drug developers. With over 20 years of experience in business development, Berkley aims to leverage partnerships for accelerating antibody therapeutics development. His prior roles include leadership positions at Halozyme Therapeutics and Acadia Pharmaceuticals. CEO Carl Hansen expressed enthusiasm for Berkley's role in enhancing the company’s global reach and strategic growth.
AbCellera (ABCL) has announced plans to build a 130,000-square-foot GMP manufacturing facility in Vancouver, marking a significant expansion in Canada’s capacity to produce therapeutic antibodies. This facility, set for completion in early 2024, aims to enhance AbCellera’s role in accelerating antibody therapies from discovery to clinical trials. The project is partly funded by a US$125.6 million grant from the Canadian government. AbCellera expects to add hundreds of jobs, contributing to improved pandemic preparedness and economic recovery in Canada.
AbCellera (Nasdaq: ABCL) announced that certain entities owned by CEO Carl Hansen and other senior leaders sold 11,900,000 common shares to institutional investors. The sale, attributed to estate planning and charitable giving, did not provide proceeds to AbCellera, and Dr. Hansen retains 20% equity interest. After the sale, the Selling Shareholders hold around 89% of their equity, representing about 30% of fully diluted shares. A Registration Statement on Form S-1 was filed on June 10, 2021, to register the Shares.
AbCellera (ABCL) reported Q1 2021 financial results, showcasing a remarkable 4253% increase in total revenue, reaching $202.7 million compared to $4.7 million in Q1 2020. Key highlights include $171.5 million in royalty revenue from bamlanivimab and $117.2 million in net earnings, a significant recovery from a $2.1 million loss the previous year. The company expanded its partnership portfolio, achieving 119 programs under contract with 29 partners. R&D expenses rose to $12.4 million, reflecting robust investments in discovery capabilities.
AbCellera (Nasdaq: ABCL) has announced that its executives will present virtually at the Berenberg Conference USA 2021 on May 18, 2021, at 11:00 a.m. Pacific Time. A live audio webcast will be available through AbCellera’s Investor Relations website, with a replay accessible afterward.
AbCellera is a technology company focused on analyzing natural immune systems to discover antibodies for drug development. The company supports both large pharmaceutical and small biotechnology partners, enabling efficient and cost-effective drug development.
AbCellera (Nasdaq: ABCL) and Angios GmbH have announced a multi-year collaboration focused on discovering monoclonal and bispecific antibodies for eye vascular diseases, particularly diabetic retinopathy. AbCellera will leverage its AI-powered platform to create antibody panels for up to three targets selected by Angios. This partnership allows Angios to expedite their therapeutic development efforts without the need for extensive internal resources. Under the agreement, Angios will retain rights to develop and commercialize resulting therapies, while AbCellera will receive equity, research fees, milestone payments, and royalties.
AbCellera (Nasdaq: ABCL) announced that its second antibody, LY-CoV1404, has commenced clinical trials for treating patients with mild-to-moderate COVID-19. The ongoing BLAZE-4 trials, conducted with Eli Lilly, will assess LY-CoV1404 both solo and in combination with other antibodies. Preclinical results demonstrate that LY-CoV1404 effectively binds to a stable region of the SARS-CoV-2 spike protein, neutralizing all known variants of concern. This potent antibody may enable lower clinical dosing and potentially subcutaneous administration, supporting its role in combating COVID-19 long-term.
AbCellera (Nasdaq: ABCL) has commenced construction on an expanded global headquarters in Vancouver, aiming to grow its workforce from 250 to hundreds over the next few years. The new tech campus will span 380,000 square feet and is projected for completion in 2023 and 2024. CEO Carl Hansen emphasized that the facilities will accelerate antibody therapy development in collaboration with global biotech and pharma partners. This development solidifies Vancouver's position as an innovation hub and supports AbCellera's long-term goal of establishing Canada's first clinical-grade antibody manufacturing facility.
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