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AbCellera and AbbVie Partner to Advance New Antibody Therapies
VANCOUVER, British Columbia--(BUSINESS WIRE)-- AbCellera (Nasdaq: ABCL) announced today that it has entered into a multi-year, multi-target strategic
About this update from Abcellera Biologics Inc.
[{"type":"text","content":" VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (Nasdaq: ABCL) announced today that it has entered into a multi-year, multi-target strategic collaboration with AbbVie Inc. (NYSE: ABBV). The partnership will leverage AbCellera’s antibody discovery and development engine to deliver optimized development candidates for up to five targets selected by AbbVie across multiple indications.\n\n“This collaboration with AbbVie is another example of how AbCellera can extend the R&D capabilities for enabled pharmaceutical companies,” said Carl Hansen, Ph.D., founder and CEO of AbCellera. “Together with AbbVie, we aim to tackle some of the most difficult antibody discovery problems to help address patients’ most serious health issues.”\n\nUnder the terms of the agreement, AbbVie has the right to develop and commercialize therapeutic antibodies resulting from the collaboration. AbCellera will receive research payments and is eligible to receive downstream clinical and commercial milestone payments and royalties on net sales of products.\n\nAbout AbCellera Biologics Inc. \nAbCellera is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera partners with drug developers of all sizes, from large pharmaceutical to small biotechnology companies, empowering them to move quickly, reduce cost, and tackle the toughest problems in drug development. For more information, please visit www.abcellera.com.\n\nAbCellera Forward-Looking Statements \nThis press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations.\n\nIn ...