Absci Enters Multi-Program Collaboration with Emerging Biotech Partner

Rhea-AI Summary

Absci Corporation (Nasdaq: ABSI) announced a collaboration with an undisclosed stealth-mode biotech company, focusing on antibody-drug-conjugates (ADCs) for oncology. The partnership involves generating up to seven novel Bionic Antibodies using Absci’s Bionic Protein™ technology, which incorporates non-standard amino acids (nsAAs). This innovative approach aims to enhance the targeting and potency of ADCs while reducing toxicities. The financial terms remain undisclosed but include upfront payments, milestones, and royalties.

Positive

• Collaboration with a stealth-mode biotech company could enhance Absci's market position.
• Development of up to seven novel Bionic Antibodies may lead to innovative ADC candidates.
• Absci's Bionic Protein technology offers unique advantages in ADC drug design.

Negative

• None.

Seven program deal with stealth-mode ADC company to leverage Absci’s Bionic Protein™ technology

VANCOUVER, Wash. and NEW YORK, July 07, 2022 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins, today announced that it has entered into a collaboration agreement with an undisclosed biotech partner. The partner is a stealth-mode company, led by pedigreed biotech industry executives, focused on discovery and development of antibody-drug-conjugates (ADCs) initially for oncology indications. The partner company has developed novel, proprietary warhead linker chemistries that it will target to specified sites on subject antibodies by exploiting Absci’s Bionic Protein™ non-standard amino acid (nsAA) incorporation technology.

The collaboration calls for Absci to generate up to seven novel Bionic Antibodies™ incorporating nsAAs. Because these nsAAs are not among the twenty amino acids that make up all of life’s proteins, they can provide unique handles for further chemical modifications when they are substituted for standard amino acids in a protein. The site-specific targeting of the chemical warheads to these nsAAs is expected to allow efficient generation of highly homogeneous and well-behaved ADC drug candidates. Financial terms are not being disclosed, but they include an upfront payment as well as future milestones and royalties associated with each program.

“We are pleased to be working with our partner to enable them to develop novel ADCs based on our Bionic Protein technology,” said Sean McClain, founder and CEO of Absci. “These programs represent a new approach to ADC generation, with highly targeted warhead conjugation, and we are excited to be helping to advance what we all hope will be drug candidates that are more potent and have lower toxicities than existing therapies.”

About Absci

Absci is the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins. We built our Integrated Drug Creation™ Platform to identify novel drug targets, discover optimal biotherapeutic candidates, and generate the cell lines to manufacture them in a single efficient process. Biotech and pharma innovators partner with us to create the next generation of protein-based drugs, including Bionic Proteins™ containing nonstandard amino acids, and other novel drug designs that may be impossible to make with other technologies. Our goal is to enable the development of better medicines by Translating Ideas into Drugs™. For more information visit www.absci.com and follow us on social media: Twitter: @Abscibio, LinkedIn: @absci, and subscribe to our Absci YouTube channel.

Availability of Other Information about Absci

Investors and others should note that we routinely communicate with investors and the public using our website (www.absci.com) and our investor relations website (investors.absci.com), including without limitation, through the posting of investor presentations, SEC filings, press releases, public conference calls and webcasts on these websites. The information that we post on these websites could be deemed to be material information. As a result, investors, the media, and others interested in Absci are encouraged to review this information on a regular basis. The contents of our website, or any other website that may be accessed from our website, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Absci Forward-Looking Statements

Certain statements relating to Absci in this press release that are not historical facts are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements containing the words “will,” “aim,” “may,” “pursues,” “anticipates,” “plans,” “believes,” “forecast,” “objective,” “goal,” “estimates,” “expects,” “progress,” and “intends,” or similar expressions. We intend these forward-looking statements, including statements regarding technology development and strategic partnership efforts, the effective incorporation of our technology in drug design and development efforts, and the receipt of future milestone and royalty payments, to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and we make this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. We can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved, and, furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, risks and uncertainties relating to our ability to effectively collaborate on strategic activities with our partners; along with those risks set forth in our most recent periodic report filed with the U.S. Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Contact
investors@absci.com

Media Contact
press@absci.com  

 

FAQ

What does the collaboration between Absci and the undisclosed biotech company involve?

The collaboration focuses on generating up to seven novel Bionic Antibodies for antibody-drug-conjugates (ADCs) targeting oncology.

How does Absci's Bionic Protein technology contribute to drug development?

The Bionic Protein technology allows the incorporation of non-standard amino acids, providing unique handles for chemical modifications in drug candidates.

What are the expected benefits of the new ADCs being developed with Absci's technology?

The new ADCs are expected to be more potent and have lower toxicities compared to existing therapies.

What is the significance of the financial terms in Absci's collaboration?

While financial terms are undisclosed, they include an upfront payment, future milestones, and royalties associated with each program.