AbSci Corp.

General Information
Business:
Our mission is to change the world, one protein at a time. We founded AbSci with the goal of creating better medicines and helping them reach patients sooner. We recognized the extraordinary medical and economic potential of protein-based drugs (biologics), but also the significant challenges the biopharmaceutical industry faces to both discover novel biologics and generate cell lines to manufacture them at commercial scale. We looked at the end game – getting better medicines to patients, faster — and asked: how? We built our technology to be that how.
 
Our Drug Creation Platform  is designed to create new and better biologics and accelerate their advancement into clinical trials, and ultimately into the marketplace where they can serve patients. 
 
We have drug candidates in nine Active Programs (across seven partners’ preclinical or clinical pipelines) for which we have negotiated, or expect to negotiate upon completion of certain technology development activities, license agreements with potential downstream milestone payments and royalties. Eight of the nine Active Programs are focused on developing production cell lines for our partners’ drug candidates. Our partners include Merck & Co., Inc., Xyphos Biotechnology, an Astellas company, Alpha Cancer Technologies, Inc., and other undisclosed biotechnology companies. These drug candidates include five preclinical programs, one Phase 1 program, one Phase 3 program – and one animal health program.
(Note: AbSci Corp. priced its IPO on July 21, 2021, at $16 – the mid-point of its $15-to-$17 price range – on 12.5 million shares, the number of shares in the prospectus, to raise $200 million.)
 

 

Industry: Services - Commercial Physical & Biological Research
Employees: 169
Founded: 2011
Contact Information
Address 18105 SE Mill Plain Blvd Vancouver, WA 98683
Phone Number (360) 949-1041
Web Address http://www.absci.com/
View Prospectus: AbSci Corp.
Financial Information
Market Cap $1446.08mil
Revenues $5.27 mil (last 12 months)
Net Income $-22.66 mil (last 12 months)
IPO Profile
Symbol ABSI
Exchange NASDAQ
Shares (millions): 12.5
Price range $16.00 - $16.00
Est. $ Volume $200.0 mil
Manager / Joint Managers J.P. Morgan/ BofA Securities/ Credit Suisse/ Cowen/ Stifel
CO-Managers -
Expected To Trade: 7/22/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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