Press release
Absci Reports Fourth Quarter and Full Year 2022 Financial and Operating Results
Advanced platform achieving multiple industry breakthroughs including creation and validation of de novo antibodies using zero-shot generative AI 10 new
About this update from Absci Corporation
[{"type":"text","content":"Advanced platform achieving multiple industry breakthroughs including creation and validation of de novo antibodies using zero-shot generative AI 10 new Active Programs in 2022, exceeding full-year guidance VANCOUVER, Wash. and NEW YORK, March 30, 2023 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), the generative AI drug creation company, today reported financial and operating results for the fourth quarter and year ended December 31, 2022. \"2022 was a transformational year for Absci that saw research collaborations with Merck and NVIDIA, and included continued strengthening of our platform, talent, and infrastructure, paving the way for an already-monumental 2023,\" said Sean McClain, Founder and CEO. \"What the world has been seeing over the last few months with the power of generative AI has been central to Absci's vision for years. We have been integrating our generative AI capabilities with our wet lab technologies to enable a new paradigm in drug creation. This January, we demonstrated our ability to create and validate de novo antibodies with zero-shot generative AI – an industry breakthrough that unlocks the potential to accelerate time to clinic and increase probability of success for new drugs. We’ve leveraged this platform to our partnered programs to develop better biologics, faster.\" \"And now, complementing our partnerships with premier pharmaceutical and biotech companies, we’ve also built out a world-class team and expanded our capabilities to develop an internal pipeline of assets. With the strategic leadership of Andreas Busch as Chief Innovation Officer, whose long career in drug discovery has resulted in over 10 commercial drugs starting from bench to FDA approval, I believe Absci is well positioned to advance our internal assets this year and demonstrate the power of our platform.\" Recent Highlights New Active Program in March 2023 leveraging Absci's generative AI drug creation platform capabilities to optimize pharmacokinetic properties for a Phase II candidate with an undisclosed partner.Released manuscript on bioRxiv in January demonstrating Absci's ability to create and validate de novo antibodies with zero-shot generative AI, a major milestone for the biotechnology industry. The ability to create de novo therapeutic antibodies in silico could potentially reduce the time it takes to get new dru...