Absci Announces Research Collaboration with Merck
07 January 2022 - 9:00PM
Absci Corporation (Nasdaq: ABSI), the drug and target discovery
company harnessing deep learning AI and synthetic biology to expand
the therapeutic potential of proteins, today announced that it has
entered into a research collaboration with Merck (known as MSD
outside the United States and Canada), using Absci’s AI-powered
Integrated Drug Creation™ Platform.
Under the collaboration, Absci will deploy its Bionic Protein™
non-standard amino acid technology to produce enzymes tailored to
Merck’s biomanufacturing applications and receive an upfront and
certain other milestone payments. In addition, Merck has the option
to nominate up to three targets and enter into a drug discovery
collaboration agreement, and Absci would then be eligible to
receive up to $610 million in upfront fees and milestone payments
for all three targets, as well as research funding and tiered
royalties on sales.
Sean McClain, founder and CEO of Absci, commented, “We are very
pleased to establish this collaboration with Merck and to be
working with its world class research organization to generate
novel enzymes. We look forward to applying our AI-driven platform
to create new biologic candidates with the potential to
meaningfully improve the lives of patients.”
“At Merck we are continually evaluating new ways to build,
expand and refine our biologics capabilities,” said Dr. Fiona
Marshall, senior vice president and head of discovery, preclinical
and translation medicine, Merck Research Laboratories. “Absci’s
platform offers a compelling opportunity to design new biologic
candidates and explore the expression of complex proteins.”
About Absci
Absci is the drug and target discovery company harnessing deep
learning AI and synthetic biology to expand the therapeutic
potential of proteins. We built our Integrated Drug Creation™
Platform to identify novel drug targets, discover optimal
biotherapeutic candidates, and generate the cell lines to
manufacture them in a single efficient process. Biotech and pharma
innovators partner with us to create the next generation of
protein-based drugs, including Bionic Proteins™ containing
nonstandard amino acids, and other novel drug designs that may be
impossible to make with other technologies. Our goal is to enable
the development of better medicines by Translating Ideas into
Drugs™. For more information visit www.absci.com and follow us on
social media: Twitter: @Abscibio, LinkedIn: @absci.
Availability of Other Information about
Absci
Investors and others should note that we routinely communicate
with investors and the public using our website (www.absci.com) and
our investor relations website (investors.absci.com), including
without limitation, through the posting of investor presentations,
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on these websites. The information that we post on these websites
could be deemed to be material information. As a result, investors,
the media, and others interested in Absci are encouraged to review
this information on a regular basis. The contents of our website,
or any other website that may be accessed from our website, shall
not be deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended.
Absci Forward-Looking Statements
Certain statements relating to Absci in this press release that
are not historical facts are considered forward-looking within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
including statements containing the words “will,” “may,” "pursues,"
“anticipates,” “plans,” “believes,” “forecast,” “estimates,”
“potential,” “expects,” and “intends,” or similar expressions. We
intend these forward-looking statements, including statements
regarding technology development and collaboration efforts,
discovery and development activities, milestone payments, future
collaboration arrangements and potential fees, payments, funding
and royalties, to be covered by the safe harbor provisions for
forward-looking statements contained in Section 27A of the
Securities Act and Section 21E of the Securities Exchange Act, and
we make this statement for purposes of complying with those safe
harbor provisions. These forward-looking statements reflect our
current views about our plans, intentions, expectations,
strategies, and prospects, which are based on the information
currently available to us and on assumptions we have made. We can
give no assurance that the plans, intentions, expectations, or
strategies will be attained or achieved, and, furthermore, actual
results may differ materially from those described in the
forward-looking statements and will be affected by a variety of
risks and factors that are beyond our control, including, without
limitation, risks and uncertainties relating to collaboration
efforts; along with those risks set forth in our most recent
periodic report filed with the U.S. Securities and Exchange
Commission, as well as discussions of potential risks,
uncertainties, and other important factors in our subsequent
filings with the U.S. Securities and Exchange Commission. Except as
required by law, we assume no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Investor Contact:
investors@absci.com
Media Contact:
press@absci.com
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