Press release
Absci Reports Business Updates and Second Quarter 2023 Financial and Operating Results
Entered into partnership with Google Ventures-backed biotech company to discover innovative new medicines Entered into collaboration with Caltech, supported
About this update from Absci Corporation
[{"type":"text","content":"Entered into partnership with Google Ventures-backed biotech company to discover innovative new medicines Entered into collaboration with Caltech, supported by the Gates Foundation, to discover affordable HIV therapeutic vaccinations VANCOUVER, Wash. and NEW YORK, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a generative AI drug creation company, today reported financial and operating results for the quarter ended June 30, 2023. \"Absci has made continued strides this year in advancing and executing on our strategic portfolio, as illustrated most recently by our new partnership with a Google Ventures-backed biotech company, a collaboration on a Gates Foundation-funded vaccine project, and the successful completion of our enzyme processing programs with Merck,\" said Sean McClain, Founder and CEO. \"Just 12 months since publishing our first manuscript for AI drug discovery, we've demonstrated our ability to successfully apply these groundbreaking technologies to partnered programs, with a robust pipeline of potential additional partnerships that would utilize our AI platform. Given these results and the accelerated pace of innovation we are building upon, I am even more excited to see the next leaps we are able to achieve toward our mission of creating better biologics for patients, faster.\" Recent Highlights Entered into partnership with a Google Ventures-backed biotech company to discover innovative new medicines for patients, representing a new Active Program. Under this partnership, Absci will use its tertiary lymphoid structures (TLSs) reverse immunology platform to help further validate antigen targets provided by the partner company. If the companies' combined efforts uncover any promising leads, the partner company will have the opportunity to leverage Absci’s AI lead optimization platform to further improve its profile.Entered into a collaboration between Caltech and Absci, supported by the Bill & Melinda Gates Foundation, to discover affordable HIV therapeutic vaccinations to potentially both treat and protect against infection from all strains of HIV-1.Initiated program work for partnership leveraging Absci's generative AI drug creation platform capabilities to optimize pharmacokinetic properties for a Phase II candidate with an undisclosed partner, as announced in March 2023.Successfully deploy...