Press release
Absci Reports Business Updates and First Quarter 2023 Financial and Operating Results
Commenced work plan preparations and expect to initiate program work during second quarter leveraging Absci's generative AI drug creation platform for Phase
About this update from Absci Corporation
[{"type":"text","content":"Commenced work plan preparations and expect to initiate program work during second quarter leveraging Absci's generative AI drug creation platform for Phase II candidate Achieved rapid advancements of generative AI drug creation platform, continually building on prior breakthroughs VANCOUVER, Wash. and NEW YORK, May 15, 2023 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a generative AI drug creation company, today reported financial and operating results for the quarter ended March 31, 2023. \"With our Integrated Drug CreationTM platform and our team's unprecedented rate of innovation this year, we have achieved multiple industry breakthroughs and further demonstrated our position as a leader in the field of AI drug discovery,\" said Sean McClain, Founder and CEO. \"Our ability to rapidly advance our models and platform and accelerate our pace of innovation has been illustrated through the manuscripts we have published this year demonstrating successive enhancements of our platform, and through new partnerships and programs initiated. This accelerated progress has been instrumental as we continue to advance and expand external partnership discussions, in addition to the meaningful advancements we have made on our internal pipeline of assets.\" \"We believe our platform offers multiple unique capabilities, enabling a shorter time to reach IND and delivering differentiated antibody compositions as well as the ability to unlock undruggable targets. Combined with key data and development partnerships, Absci is poised to rapidly grow our strategic portfolio across a range of therapeutic areas — and achieve our mission of creating better biologics for patients, faster.\" Recent Highlights Commenced work plan preparations and expecting to initiate program work in the second quarter leveraging Absci's generative AI drug creation platform capabilities to optimize pharmacokinetic properties for a Phase II candidate with an undisclosed partner announced in March 2023.Entered into partnership with the University of Oxford’s Kennedy Institute of Rheumatology, a biomedical research center developing new therapies for chronic inflammatory and musculoskeletal conditions, to create breakthrough therapies for immune-mediated diseases. Through this partnership, Absci will apply its generative AI platform to The Kennedy Institute’s immunolo...