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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 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.
Absci Corporation (Nasdaq: ABSI) reported its financial results for Q4 and the full year 2021, highlighting a significant increase in R&D and administrative expenses. Revenue for Q4 was $1.5 million, down from $2.7 million in Q4 2020. For the full year, revenue remained stable at $4.8 million. R&D expenses surged to $44.6 million from $11.4 million year-over-year, contributing to a net loss of $101 million for 2021. Despite these challenges, Absci made strides by initiating collaborations with Merck and NVIDIA and expects to launch eight new Active Programs in 2022.
Absci Corporation (Nasdaq: ABSI) announced advancements in its in-silico drug discovery technology during a presentation at NVIDIA GTC. The company focuses on machine learning models for therapeutic antibodies, aiming for a seamless pipeline from target identification to drug candidate creation. Breakthroughs include a model predicting antibody target affinity and a scoring system for the 'naturalness' of antibody variants, enhancing their developability. Collaborating with NVIDIA aims to further accelerate this innovative platform, with potential implications for the drug discovery industry.
Absci Corporation has appointed Andreas Busch, PhD, to its Board of Directors, enhancing its leadership in drug discovery.
Dr. Busch brings over 20 years of experience, previously serving as EVP and Chief Scientific Officer at Shire and Head of Drug Discovery at Bayer.
His expertise is expected to bolster Absci's efforts in in-silico design of therapeutic proteins as the company advances its unique Integrated Drug Creation™ Platform.
Absci Corporation (Nasdaq: ABSI) announced that Lead AI Scientist Joshua Meier will present at NVIDIA GTC on March 22, 2022, at 1:00 p.m. PT. The session focuses on leveraging deep learning and synthetic biology for drug and target discovery. Attendees can register for free to join the virtual presentation at NVIDIA's official site.
Absci aims to expand the therapeutic potential of proteins using its Integrated Drug Creation™ Platform, partnering with biotech and pharma innovators to develop the next generation of protein-based drugs.
Absci Corporation (Nasdaq: ABSI) announced that CEO Sean McClain will participate in the Synthetic Biology Enabling Drug Discovery Panel at the Cowen 42nd Annual Health Care Conference. The event is set for March 8, 2022, from 12:30-1:30 p.m. Pacific Time / 3:30-4:30 p.m. Eastern Time. A live and archived webcast will be available on the company’s investor relations website.
Absci leverages deep learning AI and synthetic biology in drug discovery, aiming to advance the therapeutic potential of proteins.
Absci Corporation (Nasdaq: ABSI), a pioneer in drug and target discovery utilizing deep learning AI, announced its participation in two upcoming virtual investor conferences. The Truist Life Sciences AI Symposium will feature a panel discussion on March 1, 2022, at 7:10 a.m. PT, while the Cowen 42nd Annual Health Care Conference will include a fireside chat on March 7, 2022, at 9:50 a.m. PT. Interested attendees can access these events through the provided links. These engagements highlight Absci's commitment to expanding the therapeutic potential of proteins and facilitating drug development.
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