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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 Corporation (Nasdaq: ABSI) announced its participation in the Morgan Stanley Annual Healthcare Conference in New York on September 14, 2022. The company will engage in a fireside chat scheduled for 4:05 PM ET. Interested parties can access a live and archived webcast via the company’s investor relations website. Absci focuses on drug and target discovery using deep learning AI and synthetic biology, aiming to enhance protein therapeutic potentials.
Absci Corporation (Nasdaq: ABSI) announced its participation in the Inaugural Gilmartin Group Emerging Growth Company Showcase, scheduled for August 31, 2022. The company will present in a fireside chat at 7:00 a.m. PT (10:00 a.m. ET). Interested parties can access the live and archived webcast on its investor relations website. Absci specializes in drug and target discovery using deep learning AI and synthetic biology, aiming to expand therapeutic proteins' potential through its Integrated Drug Creation™ Platform.
Absci Corporation (Nasdaq: ABSI) reported a strong performance in Q2 2022, signing ten Active Programs, exceeding its annual guidance of eight. Cash and equivalents stood at $206 million, down from $252.6 million at 2021's end. R&D expenses rose to $16.2 million, while SG&A expenses increased to $10.5 million. The net loss reduced to $28.7 million from $41.2 million year-over-year. A strategic reorganization aims to extend the cash runway into late 2025, focusing on AI-driven drug discovery. The company is projecting a net decrease in cash of approximately $110 million for 2022.
Absci Corporation (Nasdaq: ABSI) is set to participate in the UBS Genomics 2.0 and MedTech Innovations Summit Conference on August 9, 2022, at 3:00 p.m. PT. The event will feature a fireside chat with company management, accessible via a live and archived webcast on their investor relations website.
Absci is focused on drug and target discovery, leveraging deep learning AI and synthetic biology to enhance protein therapeutic potential. Their Integrated Drug Creation™ Platform enables efficient identification and development of novel biotherapeutics.
Absci Corporation (Nasdaq: ABSI) will participate virtually in the SVB Securities CybeRx event focusing on Big Data, A.I., and Machine Learning in Healthcare. The company is scheduled for the Drug R&D and Development panel on July 27, 2022, at 6:00 a.m. PT (9:00 a.m. ET). Absci is known for its innovative Integrated Drug Creation™ Platform, which leverages deep learning AI and synthetic biology to enhance protein therapeutic potential. The company aims to revolutionize drug discovery and development by creating next-generation protein-based drugs.
Absci Corporation (Nasdaq: ABSI) announced the hiring of two senior executives: Denise Dettore as Chief People Officer and Jack Gold as Chief Marketing Officer. Dettore brings 26 years of HR experience, including leadership roles in biotech and high-tech industries, while Gold has extensive marketing expertise from previous roles at Zymergen and Nike. Both leaders are expected to enhance Absci's growth and organizational culture as the company focuses on leveraging AI in drug discovery and advancing its brand.
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.
Absci Corporation (Nasdaq: ABSI) reported its Q1 2022 financial results, highlighting significant advancements in drug discovery technology and collaborations. The company entered a research collaboration with Merck with potential $610 million in payments. Absci unveiled breakthroughs in machine learning for antibody affinity predictions and developed a scoring model for antibody 'naturalness.' Financially, cash reserves stood at $226 million, funding operations through 2024, though net loss rose to $29.5 million. Absci projects 60% growth with at least eight new Active Programs in 2022.
Absci Corporation (Nasdaq: ABSI) announced its participation in the BofA Securities 2022 Healthcare Conference in Las Vegas, scheduled for May 11 at 5:20 p.m. PT. The company leverages deep learning AI and synthetic biology to enhance protein therapeutic potential. Absci's Integrated Drug Creation™ Platform identifies novel drug targets and optimizes biotherapeutic candidates efficiently. Investors can access the live and archived presentation via the company’s investor relations website.
Absci Corporation (Nasdaq: ABSI) has opened the Absci AI Research Lab (AAIR Lab) in Manhattan's Carnegie Hall Tower, enhancing its in-silico drug discovery capabilities. This strategic expansion follows Absci's recent advancements in machine learning for antibody optimization and its collaboration with NVIDIA. The lab aims to accelerate therapeutic protein design and support the Denovium™ Engine AI platform. CEO Sean McClain highlighted the significance of the location and the talent pool, emphasizing the company's vision for innovative drug development.
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