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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) will participate virtually in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 15, 2022, at 8:30 a.m. Pacific Time. The company specializes in drug and target discovery by leveraging deep learning AI and synthetic biology, aiming to enhance the therapeutic potential of proteins. Absci's Integrated Drug Creation™ Platform allows the identification of novel drug targets and the discovery of optimal biotherapeutic candidates in a streamlined process. For more information, visit www.absci.com.
Absci Corporation (Nasdaq: ABSI) has announced a research collaboration with Merck to utilize its AI-driven Integrated Drug Creation™ Platform. This partnership will employ Absci's Bionic Protein™ technology to develop tailored enzymes for Merck's biomanufacturing needs. Absci can earn up to $610 million in milestone payments for three nominated drug targets, along with ongoing research funding and tiered royalties on sales. The collaboration aims to enhance the therapeutic potential of proteins and improve patient outcomes.
Absci Corporation (Nasdaq: ABSI) announced its participation in the 40th Annual J.P. Morgan Healthcare Conference, scheduled for January 10th at 12:45 p.m. PT / 3:45 p.m. ET. This presentation will be conducted virtually, and interested individuals can access a live and archived webcast through the company's website.
Absci specializes in drug and target discovery using deep learning AI and synthetic biology, aiming to advance protein therapeutic potential. For more information, visit www.absci.com.
Absci Corporation (Nasdaq: ABSI) announced its participation in the H.C. Wainwright BIOCONNECT Virtual Conference on January 10th, 2022, at 4:00 a.m. Pacific Time. The company utilizes deep learning AI and synthetic biology for drug and target discovery, facilitating the development of protein-based drugs. Interested individuals can access the live and archived webcast through the investors' section on their website. With a focus on expanding therapeutic potential, Absci aims to transform innovative ideas into effective medicines.
Absci Corporation (Nasdaq: ABSI) will participate virtually in the 40th Annual J.P. Morgan Healthcare Conference on January 10th, 2022, at 7:30 a.m. PT/10:30 a.m. ET. The presentation will be accessible via a live and archived webcast on the company's website. Absci is known for its Integrated Drug Creation™ Platform, which leverages deep learning AI and synthetic biology to discover new drug targets and biotherapeutic candidates. The company aims to revolutionize drug development and enhance therapeutic options for patients.
Absci Corporation (Nasdaq: ABSI) reported its Q3 2021 financial results, showcasing promising growth and strategic developments. Revenue increased to $1.5 million from $0.9 million year-over-year. Research and development expenses surged to $10.7 million, reflecting investments in platform expansion, while selling, general, and administrative expenses rose to $9.7 million. The net loss widened to $23.6 million, including a $3.6 million non-cash charge. Absci maintains a robust cash position of $279.3 million, bolstered by its recent IPO, which raised approximately $210 million.
Absci Corporation (Nasdaq: ABSI), a leader in drug and target discovery utilizing deep learning AI and synthetic biology, announced its participation in two upcoming virtual investor conferences. The Credit Suisse 30th Annual Healthcare Conference will feature a fireside chat on November 9 at 10:00 a.m. PT, while the Stifel 2021 Virtual Healthcare Conference will host a fireside chat on November 16 at 1:40 p.m. PT. Interested parties can access webcasts of the presentations on the company's website.
Absci Corporation (Nasdaq: ABSI) has announced the opening of a new campus in Vancouver, Washington, expanding its operational capacity to accelerate the discovery and development of biologic drugs. The facility spans over 85,000 square feet, designed to enhance laboratory and office space for improved productivity. The new campus will triple the company's capacity for program execution and integrate advanced technologies for drug discovery. Washington Governor Jay Inslee praised Absci for its positive community impact and commitment to innovation in biotechnology.
Absci Corporation (Nasdaq: ABSI) announced it will release its Q3 2021 financial results on November 9, 2021. The company will host a webcast conference call at 5:30 AM PT / 8:30 AM ET to discuss the results. Absci focuses on drug discovery through deep learning AI and synthetic biology to enhance protein therapeutics. Their Integrated Drug Creation™ Platform allows identification of new drug targets and optimal biotherapeutic candidates efficiently. The webcast will be available on their website and archived for later access.
Absci Corporation has formed a strategic collaboration with EQRx to enhance its portfolio of affordable medicines. This partnership will leverage Absci's Drug Creation™ technology alongside EQRx's clinical development capabilities to engineer multiple protein-based therapeutics targeting oncology and immunology. Absci may invest further at various development stages for a larger share of product sales. The collaboration aims to accelerate the discovery and production of innovative treatments, thus making a significant impact on patient care.
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