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Absci Corporation (Nasdaq: ABSI) is a leading company that leverages the power of artificial intelligence to drive the next generation of drug discovery and development. Based in Vancouver, WA, Absci combines advanced AI technology with scalable wet lab processes, aiming to revolutionize the speed and efficacy of creating novel biologics.
Absci's core business revolves around its Integrated Drug Creation™ platform, which offers a unified approach to biologic drug discovery and cell line development. By optimizing multiple drug characteristics simultaneously, this platform accelerates the timeline from concept to clinic while increasing the probability of success in therapeutic development. The company is uniquely positioned to screen billions of cells per week, enabling rapid transformation from AI-designed antibodies to wet lab-validated candidates in as little as six weeks.
Recent achievements include the presentation of positive preclinical data for ABS-101, a potential best-in-class anti-TL1A antibody program. The company has initiated IND-enabling studies and plans to submit an Investigational New Drug application in the first quarter of 2025. Additionally, Absci has forged strategic partnerships, such as a high-profile collaboration with AstraZeneca aimed at advancing an AI-designed oncology candidate, potentially valued at up to $247 million.
Financially, Absci has strengthened its balance sheet through successful public offerings, raising approximately $86 million in gross proceeds. This financial boost ensures the company has the resources needed to advance its internal programs and continue investment in its groundbreaking platform.
Absci's innovative approach and commitment to leveraging AI for drug discovery have not only enhanced its internal pipeline but also attracted significant industry partnerships. The company’s vision of delivering breakthrough therapeutics at the click of a button continues to drive its mission forward, promising better and faster solutions for patients worldwide.
Absci (NASDAQ: ABSI) announced significant updates across its pipeline and AI platform at its 2024 R&D Day. The company highlighted progress on several drug candidates:
ABS-201, a novel anti-PRLR antibody for androgenic alopecia, demonstrated improved hair regrowth compared to minoxidil in preclinical trials, targeting a market of approximately 80 million individuals in the U.S. Phase 1 trials are expected to begin in 1H 2026.
ABS-101, an anti-TL1A antibody, showed promising safety profile in 13-week toxicology studies, with Phase 1 trials anticipated in 1H 2025. The company also reported progress on ABS-301 for immuno-oncology and ABS-501, a novel anti-HER2 antibody. Additionally, Absci achieved a breakthrough in designing antibodies targeting the HIV 'caldera' region, potentially advancing universal HIV vaccine development.
Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, announced its participation in the 36th Annual Piper Sandler Healthcare Conference in New York. The company's Founder & CEO Sean McClain will join a panel discussion on 'The Promise of AI in Drug Development' scheduled for Thursday, December 5th at 2:00 p.m. Eastern Time. Those interested in attending can request registration details through their Piper Sandler representative.
Absci (ABSI) reported Q3 2024 financial results and business updates. Revenue increased to $1.7 million from $0.7 million year-over-year. Net loss widened to $27.4 million from $22.0 million in Q3 2023. The company delivered AI-designed antibody sequences to AstraZeneca, meeting their first milestone, and entered a new collaboration with Twist Bioscience. R&D expenses increased to $18.0 million from $11.0 million YoY. Cash position stands at $127.1 million, expected to fund operations into first half of 2027. The company reduced its expected cash use for 2024 to $75 million from $80 million previously.
Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, has announced its upcoming 2024 R&D Day scheduled for December 12th in New York City. The event will run from 9:00 a.m. to approximately 12:00 p.m. Eastern Time, featuring presentations from Absci's leadership team and guest speakers, followed by an interactive Q&A session. Interested participants can access both live and archived webcasts of the event through the company's investor relations website at investors.absci.com.
Absci (NASDAQ: ABSI) and Twist Bioscience announced a collaboration to design a novel therapeutic using generative AI. The partnership combines Absci's AI drug creation platform with Twist's DNA synthesis technology to accelerate pharmaceutical R&D. The companies will develop a therapeutic candidate against an undisclosed target, utilizing Absci's AI de novo design capabilities and Twist's silicon-based synthesis platform, including Multiplexed Gene Fragments for testing antibody candidates. Both companies plan to seek a partner for clinical development and commercialization. This program adds to Absci's portfolio of collaborations with companies like AstraZeneca and Merck.
Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, has announced its participation in multiple investor conferences in November 2024. The schedule includes the Truist Securities BioPharma Symposium in New York, Guggenheim Securities Inaugural Healthcare Innovation Conference in Boston, UBS Global Healthcare Conference in California, Stifel 2024 Healthcare Conference in New York, and Jefferies London Healthcare Conference in the UK. The company will participate in fireside chats and host one-on-one meetings. Live and archived webcasts will be available on Absci's investor relations website.
Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, has announced it will report business updates and financial and operating results for the third quarter of 2024 before market open on Tuesday, November 12, 2024. The company's management will host a conference call and webcast at 8:00 a.m. Eastern Time / 5:00 a.m. Pacific Time on the same day to discuss developments, results, and outlook.
Investors can access the live audio webcast on Absci's investor relations website at investors.absci.com. The webcast will also be archived for later replay. This announcement indicates Absci's commitment to transparency and shareholder communication, providing an opportunity for investors to gain insights into the company's performance and future prospects.
Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, has announced its participation in three upcoming investor conferences in September 2024:
- Morgan Stanley 22nd Annual Global Healthcare Conference: Fireside chat on September 5th at 5:35 p.m. ET
- Citi 2024 Global TMT Conference: Fireside chat on September 6th at 8:20 a.m. ET
- H.C. Wainwright 26th Annual Global Investment Conference: Fireside chat on September 10th at 12:00 p.m. ET
Interested parties can access live and archived webcasts of these events on Absci's investor relations website at investors.absci.com.
Absci (Nasdaq: ABSI) reported Q2 2024 financial results and business updates. Key highlights include:
1. Non-human primate studies for ABS-101 showed 2-3x extended half-life compared to antibodies in clinical development.
2. Collaboration with Memorial Sloan Kettering Cancer Center to develop up to six novel oncology therapeutics.
3. Revenue decreased to $1.3 million from $3.4 million in Q2 2023.
4. Net loss reduced to $24.8 million from $41.7 million in Q2 2023.
5. Cash position of $145.2 million as of June 30, 2024.
6. Company expects to initiate Phase 1 clinical studies for ABS-101 in early 2025.
Absci (Nasdaq: ABSI) has announced a collaboration with Memorial Sloan Kettering Cancer Center (MSK) to discover and develop up to six novel cancer therapeutics using generative AI. This partnership combines Absci's Integrated Drug Creation™ platform with MSK's renowned cancer research expertise. The collaboration aims to advance cancer research and develop new therapies for patients.
This initiative adds to Absci's growing list of research and drug development collaborations, including partnerships with AstraZeneca, Almirall, Merck, and NVIDIA. Absci is also developing its own pipeline of drug candidates, such as ABS-101, a potential best-in-class anti-TL1A antibody designed using generative AI.
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