AbCellera Biologics, which provides an AI powered drug discovery platform for antibody therapies, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The company offers a full-stack, artificial intelligence-powered drug discovery platform that searches and analyzes a database of natural immune systems to find antibodies that can be developed as drugs. Rather than advancing its own clinical pipeline of drug candidates, AbCellera forges partnerships with drug developers and helps them develop drugs more efficiently. As of September 30, 2020, the company had 94 discovery programs that are either completed, in progress, or under contract with 26 partners.
The Vancouver, Canada-based company was founded in 2012 and booked $28 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol ABCL. AbCellera Biologics filed confidentially on October 5, 2020. Credit Suisse, Stifel, Berenberg, SVB Leerink and BMO Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
