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AbCellera Partners with the Governments of Canada and British Columbia to Advance Drug Development Capabilities and Infrastructure that Will Accelerate Innovative Medicines to Patients
CA$701 million co-investment to strengthen capabilities and infrastructure for drug development, manufacturing, and clinical research in Canada AbCellera to
About this update from Abcellera Biologics Inc.
[{"type":"text","content":"\n\nCA$701 million co-investment to strengthen capabilities and infrastructure for drug development, manufacturing, and clinical research in Canada\n\n\n\nAbCellera to build state-of-art facilities and technologies capable of developing new antibody medicines from a disease target to the completion of Phase 1 clinical trials\n\n\n\nAbCellera to collaborate with clinical researchers across Canada to design and conduct Phase 1 trials that deliver promising new medicines to patients for a broad range of diseases, with an initial focus on cancer and immune diseases\n\n\n\nThe project is expected to create hundreds of new high-skilled jobs at AbCellera\n\n\n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (Nasdaq: ABCL) today announced a CA$701 million co-investment with the Governments of Canada and British Columbia to build new capabilities and infrastructure to develop innovative antibody-based medicines and strengthen Canada’s leadership in clinical research, manufacturing, and drug development. Over the next eight years, AbCellera plans to invest CA$401 million in the project, and the Governments of Canada and British Columbia will contribute CA$225 million and CA$75 million, respectively. These investments will build new capabilities in Canada to develop, manufacture, and deliver antibody medicines to patients through Phase 1 clinical trials and build expertise in translational science, technical operations, and clinical operations and research.\n\n\nAbCellera’s team was joined earlier today at the company’s headquarters in Vancouver by the Honourable David Eby, Premier of British Columbia, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, and the Honourable Brenda Bailey, Minister of Jobs, Economic Development and Innovation to announce this new program.\n\n\n“This project, and the commitment to co-invest alongside the Governments of Canada and British Columbia, is a major step towards building the capabilities in Canada to translate scientific breakthroughs into new medicines that will benefit patients here, and around the world,” said Carl Hansen, Ph.D., founder and CEO of AbCellera. “With a decade of building our teams, technology, and expertise, this co-investment will accelerate the execution of our strategy and bring new treatments into clinical development.”\n\n\n“AbCe...