AbSci Corporation (ABSI) News

Absci and Owkin Synergize Leading TechBio Platforms to Advance Generative AI Drug Discovery
07:30:00 AM ET, 01/10/2025 - GlobeNewswire

VANCOUVER, Wash. and PARIS, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Absci Corporation (NASDAQ: ABSI), a data-first generative AI drug creation company, and Owkin, a TechBio that uses agentic AI to unlock complex targets for drug discovery, development, and diagnostics, today announced a partnership bringing together two leading AI platforms to rapidly discover and design novel therapeutics for patients.

“At Absci, we’re constantly pushing the boundaries of innovation to bring better biologics to patients faster,” said Sean McClain, Founder and CEO of Absci. “By combining Absci’s AI de novo design expertise with Owkin’s world-class predictive AI target discovery technology, we have a unique opportunity to design first-in-class and potentially transformative therapeutics for patients in need.”

Through this strategic partnership, Absci and Owkin will co-develop therapeutic candidates addressing novel targets in immuno-oncology and other indications, such as immunology and inflammation. Owkin’s predictive AI models will optimize target selection and validate therapeutic hypotheses using extensive biomedical datasets and patient-derived organoids. Absci’s generative AI Drug Creation platform, including its de novo antibody design models, will rapidly design therapeutic candidates against these novel targets. Together, the companies will aim to streamline and accelerate the path from research to clinical development.

“At Owkin, our mission is to use patient data and Owkin K, our Operating System, to revolutionize drug discovery and development,” said Thomas Clozel, MD, CEO and Co-Founder of Owkin. “This partnership with Absci represents a significant step forward in our journey to bring transformative therapies to patients. By bringing together Owkin’s AI agents that can identify and experimentally validate novel therapeutic targets with Absci’s pioneering capabilities in developing biologic drug candidates, we aim to accelerate the delivery of next-generation treatments.”

This collaboration builds on Absci’s growing portfolio of partnerships with industry leaders such as AstraZeneca and Merck, as well as its robust internal pipeline of drug candidates. With this new partnership, Absci has added drug creation partnerships with four new Partners in 2024, achieving the Company's outlook for the year. Similarly, Owkin has established itself as a pioneer in predictive AI, working with top-tier pharmaceutical companies such as Sanofi and BMS to advance drug discovery and development as well as its differentiated pipeline of drug candidates and AI diagnostics

ProMIS Neurosciences (PMN) announced the initiation of its Phase 1b clinical trial evaluating its lead therapeutic candidate, PMN310, in Alzheimer's disease.Absci Corporation (ABSI) announced a partnership bringing together two leading AI platforms to rapidly discover and design novel therapeutics for patients.Tourmaline Bio (TRML) announced that Paul M. Ridker, MD, MPH, Eugene Braunwald Professor of Medicine at the Harvard Medical School and Director of the Center for Cardiovascular Disease Prevention at Brigham and Women's Hospital, has joined Tourmaline's Cardiovascular Scientific Advisory Board.

AMD is investing $20 million in AI drug startup Absci , which will use AMD chips and software

HC Wainwright & Co. analyst Swayampakula Ramakanth maintains Absci (NASDAQ:ABSI) with a Buy and maintains $7 price target.

ABSI: I'm in --- nice deal with AMD!!

3rd quarter results Nov. 12, fyi ANT

2025 gettin' closer, ANT

Approachin' the end of the 6 month tradin' channel, gets interestin' now, fyi imvho ANT

C
A prescription drug bottle filled with 0s and 1s to represent binary code.Francis Scialabba
CFOs are embracing AI, experimenting with new use cases for it throughout the finance function. But some CFOs are tapping the potential of the technology in other ways. At biotech firm Absci, researchers are using AI to develop drugs to treat cancer. (We’re not saying that to make your Claude-drafted emails look bad, we promise.)

Absci’s CFO and CBO, Zach Jonasson, spoke with CFO Brew about how AI is allowing the company to create and test new antibodies faster—and cheaper—than ever before.

Absci uses E. coli—yes, the same bacteria that can give you some nasty infections—to manufacture antibodies that can be used in a variety of therapies. Using a process called “high throughput screening,” it then tests the antibodies, and it patents therapies containing the most promising ones.

Even before ChatGPT burst onto the scene, Absci saw potential in AI. Through its testing of antibodies, the company generated large amounts of data, which it realized could be used to train an AI. In 2021, it acquired a deep learning company called Denovium, which became “the nucleus” that it built a proprietary AI around, Jonasson said.

ABSI under $5

ABSI three month chart

Been 1 year since thus post and what a nice investment. Up 105% I'll take that all day and year long.

It will only take one success to be multi millions

It only takes one success..
Now we're in the cancer realm
My call 8.59 before end of year

touchin' resistance, anyday now imfho ANT

Canada: only 2 things i keep in mind: golden Maple leafs and a master chartist, a magic combo, ANT

moderate volume last few tradin' days but holdin' onto that nice area on the chart, ANT

testin' resistance for the 5th time, this puppy wants to move imvho ANT

imo now it breaks that first resistance at 4,50 are we'll temporarily be hooverin' back to the 50ma area, imo and fyi ANT

4th time knockin' on them 4,50's, it's not if but when it will pierce thru, ANT

recoverin' above 50ma, co is busy, 2025 should be great, meanwhile, we have 4,50 and 5,00 as nxt resistances, patience, ANT

today was third time it tried to break resistance (4,50), comin' down it bounced of that 50ma line perfectly, patience, it is a nice consolidation process so far, ANT

some consolidation just above that 50ma should give us more strength later, jmfho ANT

2 million+ volume again today, xcellent so far, ANT

needs just a bit more volume to break 4,5 resistance imo, patience is key, ANT

and hit now, ANT

daily avg vol in, want to see if 4,50 gets broken, ANT

first things first, added some under 4 bucks, patience, ANT

curious about the nxt resistance at 4,50, looks good so far, ANT

50ma magnet? Let's see, ANT

Absci to Report Business Updates and Second Quarter 2024 Financial and Operating Results on August 14, 2024 fyi ANT

daily volume intact for awhile now, fyi ANT

https://www.absci.com/gen-absci-eyes-busy-2025-as-lead-ai-designed-candidate-heads-for-clinic/
fyi ANT

ABSI

5,25~~ ANT

Hello 5's again, ANT

ALGO POP....GOT OUT HERE!!

ABSI..IS NOW A WEEKLY BREAK OUT PLAY

ABSI cruisin', one of my longterm holds, ANT

ABSI new 52 hi

6,50~~ ANT

Hello 6 bucks, ANT

5,71~~ ANT

Behaves like a lowfloater should, 5,56~~ ANT

churn above 5 bucks continues, first trial update will heat this one up for sure, had a nice long weekend despite the weather, it's my cold Nordland for a reason lol, ANT

sweet vol again, 5,69~~ ANT

5,54~~ have no doubt about my 2024 stocks, ANT

Good volume so far, almost 600k shares after 150 minutes of tradin', i'll take it, ANT

the churn around 5 bucks brought strength, 5,56~~ hod so far, ANT

Double digit stock eoy or sooner: Initiated IND-enabling studies for ABS-101, a potential best-in-class anti-TL1A antibody
Entered into collaboration with AstraZeneca for up to $247M in deal value, plus royalties

Strengthened balance sheet raising approximately $86M in gross proceeds through underwritten common stock offering
fyi ANT

VANCOUVER, Wash. and NEW YORK, March 21, 2024 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, today reported financial and operating results for the fourth quarter and year ended December 31, 2023.

"In 2023, Absci further solidified its leadership in AI-driven biologic drug discovery," said Sean McClain, Founder and CEO. "Our breakthroughs in generative AI drug creation have rapidly translated into a differentiated internal portfolio of potential best-in-class and first-in-class programs. With validating strategic industry partnerships and our recent underwritten public offering, we're poised to further advance our pipeline, enhance our AI capabilities, and expand our partnerships. These efforts reflect our commitment to innovation, promising better biologics for patients, faster."

Recent Highlights

In January, Absci presented positive preclinical data for ABS-101, a potential best-in-class anti-TL1A antibody, which exhibited properties consistent with a potentially superior product profile. Based on further confirmatory studies, Absci selected a development candidate and initiated IND-enabling studies for ABS-101 in February 2024.

Completed an underwritten public offering of common stock raising gross proceeds of approximately $86.4 million. Based on the company's current plans, Absci believes its existing cash and cash equivalents and short-term investments, including the net proceeds from the recent underwritten offering of common stock, will be sufficient to fund its operations into the first half of 2027.

Entered into a collaboration with AstraZeneca to deliver an AI-designed antibody against an oncology target. Under the terms of the collaboration agreement, Absci is entitled to receive an upfront commitment, research and development funding, and milestone payments, collectively totaling up to $247 million, in addition to royalties on product sales.

Entered into a partnership with PrecisionLife, a leading computational biology company driving precision medicine in complex chronic diseases, to develop a joint portfolio of potential therapeutics addressing unmet medical needs.

Appointed Professor Sir Menelas “Mene” Pangalos to Absci's Board of Directors and as co-chair of Absci’s Scientific Advisory Board. Sir Mene, who has over 25 years of experience in drug discovery and development, is retiring from his position as the Executive Vice President of BioPharmaceuticals R&D at AstraZeneca, and joins Absci as the company scales its AI-enabled portfolio of partnered and wholly-owned asset programs.

check it out, fyi ANT