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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), a data-first generative AI drug creation company, has announced its participation in the TD Cowen 45th Annual Health Care Conference in Boston, MA. The company's management will engage in a fireside chat on Monday, March 3rd at 3:10 p.m. Eastern Time (12:10 p.m. Pacific Time).
Interested parties can access both live and archived webcasts of the presentation through Absci's investor relations website at investors.absci.com.
Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, has announced its participation in the upcoming Guggenheim Securities SMID Cap Biotech Conference in New York. The company's management will engage in a fireside chat on Wednesday, February 5th at 3:00 p.m. Eastern Time (12:00 p.m. Pacific Time). Interested investors and stakeholders can access both live and archived webcasts of the presentation through Absci's investor relations website at investors.absci.com.
Absci (NASDAQ: ABSI) and Owkin have announced a strategic partnership to combine their AI platforms for drug discovery and development. The collaboration will focus on discovering and designing novel therapeutics in immuno-oncology, immunology, and inflammation.
Owkin will contribute its predictive AI models for target selection and therapeutic hypothesis validation using biomedical datasets and patient-derived organoids. Absci will utilize its generative AI Drug Creation platform and de novo antibody design models to develop therapeutic candidates against these novel targets.
This partnership marks Absci's fourth drug creation partnership in 2024, meeting the company's yearly outlook. Both companies bring significant industry partnerships to the table, with Absci's existing collaborations with AstraZeneca and Merck, and Owkin's work with Sanofi and BMS.
Absci (NASDAQ: ABSI) has announced a strategic collaboration with AMD focused on AI drug discovery advancement. The partnership includes a $20 million strategic investment from AMD through a private investment in public equity (PIPE) and will involve deploying AMD Instinct™ accelerators and ROCm™ software to power Absci's AI drug discovery workloads, including de novo antibody design models.
The collaboration aims to enhance Absci's biological modeling capabilities by providing optimized AI solutions that offer improved performance, reduced infrastructure costs, and faster innovation cycles. The partnership will showcase the performance of AMD's Instinct accelerators in complex biological applications, including Absci's IgDesign1 model, which is the first in vitro validated inverse folding model for antibody design.
Absci (NASDAQ: ABSI) and Invetx announced a strategic partnership to develop an innovative Half-Life Extension (HLE) platform for animal health applications. The collaboration will utilize Absci's generative AI Drug Creation models to design novel modular antibody sequences for specific animal species.
Under the agreement, Invetx will have rights to use the HLE platform in multiple products to enhance therapeutic effect duration and customer convenience. The partnership includes R&D funding, election fees, milestone payments, and royalties on a per-product basis. Initial applications will focus on large-market indications in canines, with potential expansion to other companion animals.
Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. The company's management will deliver a presentation on Wednesday, January 15th at 4:30 p.m. Pacific Time (7:30 p.m. Eastern Time).
Investors and interested parties can access both the live presentation and archived webcast through Absci's investor relations website at investors.absci.com.
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.
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