AbCellera Biologics

AbCellera is Canadian-based AI drug discovery company focused on finding therapeutic antibodies that can be used as a treatment for various diseases, including cancer, neurodegeneration, and infections such as influenza and Covid-19. It uses a single-cell platform that integrates proprietary immunizations, micro-fluidics, high-throughput imaging, genomics, deep computation, AI, and laboratory automation technologies. The company claims the main advantage of its antibody discovery platform is the use of a combination of methods to identify drug targets. 

The company has two preclinical programs in the pipeline that have advanced into IND-enabling studies. These include 1) ABCL575 to treat immunology and inflammation and 2) ABCL635 to treat metabolic and endocrine conditions. The company discovered a Covid-19 antibody treatment, Bamlanivimab, in partnership with Eli Lilly, and gained Emergency Use Authorization (EUA) from the FDA. The company identified the neutralizing antibody against the virus in March 2020 and accelerated the process from screening to clinical testing in 90 days. The company has experimented with more than 60 million immune cells from multiple patient samples and identified over 2,000 unique human antibodies that bind to the surface of the Covid-19 virus. 

Key customers and partnerships

As of February 2024, AbCellera Biologics had a total of 203 programs under contracts with 87 partner-initiated programs.Its customers include several major pharmaceutical companies that leverage its technology, such as Pfizer ( January 2017 ), Sanofi ( June 2017 ), Teva Pharmaceutical ( June 2017 ), GSK ( September 2017 ), Novartis (February 2019 ), Denali Therapeutics ( February 2019 ), Eli Lilly ( March 2020 ), EQRx and Tachyon (July 2021), Moderna (September 2021), AbbVie ( December 2022 ), RQ Bio ( March 2023 ), and Incyte ( September 2023 ). 

The company has also collaborated with pharmaceutical companies to discover and develop novel antibodies across various indications, including Rallybio to discover, develop, and commercialize novel antibody-based therapeutics for rare diseases (December 2022). 

Funding and financials

AbCellera started trading on the NASDAQ Exchange from December 2020. In May 2023 , the company secured a Canadian federal grant for CAD 701 million (USD 516 million) to implement a project for eight years to extend the capacity of the company's manufacturing plant. 

For FY2023, the company reported USD 38 million in revenue, a decrease from USD 485 million in FY2022. Further, for FY2023, the company reported net losses of USD 146.4 million, compared to a net income of USD 158.5 million in FY2022.