AbCellera Reports Q1 2024 Business Results

About this update from Abcellera Biologics Inc.

[{"type":"text","content":" VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (Nasdaq: ABCL) today announced financial results for the first quarter of 2024. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.\n\n\n“We continue to execute on advancing our internal pipeline, completing capital investments in forward integration, and expanding strategic partnerships,” said Carl Hansen, Ph.D., founder and CEO of AbCellera. “This quarter, presentations on our T-cell engager platform, which includes our highly differentiated CD3 panel, demonstrated how we can repeatedly generate TCEs that maximize tumor-cell killing without inducing excessive cytokine release. With our TCE platform in place, we are moving programs towards in vivo studies.”\n\n\nQ1 2024 Business Summary\n\n\n\nAnnounced a new collaboration with Biogen Inc. to discover antibodies for neurological conditions.\n\n\n\nAnnounced a new collaboration with Viking Global Investors and ArrowMark Partners to launch new biotech companies.\n\n\n\nPresented new data on its T-cell engager (TCE) programs at the American Association for Cancer ResearchⓇ Annual Meeting 2024 that demonstrate how AbCellera's TCE platform is able to generate TCEs that achieve potent cell killing with low toxicity associated with cytokine release.\n\n\n\nReported the start of three additional partner-initiated programs with downstreams to reach a cumulative total of 90 partner-initiated program starts with downstreams.\n\n\n\nMaintained a cumulative total of 13 molecules advanced to the clinic.\n\n\n\nKey Business Metrics\n\n\n\n\nCumulative Metrics\n\n\n\n\n\n\n \n\n\n\n\n\n\nMarch 31, 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nMarch 31, 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nChange %\n\n\n\n\n\n\n\n\nPartner-initiated program starts with downstreams\n\n\n\n\n\n\n \n\n\n\n\n\n\n75\n\n\n\n\n\n\n \n\n\n\n\n\n\n90\n\n\n\n\n\n\n \n\n\n\n\n\n\n20\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nMolecules in the clinic\n\n\n\n\n\n\n \n\n\n\n\n\n\n9\n\n\n\n\n\n\n \n\n\n\n\n\n\n13\n\n\n\n\n\n\n\n44\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\nAbCellera started discovery on an additional three partner-initiated programs with downstreams to reach a cumulative total of 90 partner-initiated program starts with downstreams in Q1 2024 (up from 75 on March 31, 2023). AbCellera’s partners have advanced a cumulative total of 13 molecul...

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