July 26, 2021 - It is reported that the synthetic biology company AbSci (NASDAQ: ABSI) was successfully listed on NASDAQ on July 22. The IPO price is set at $16, with a total of 12.5 million shares issued and a total fund-raising of about $200 million.
According to the company's official website, AbSci, as an AI driven synthetic biology company, through its own patented SoluPro® E. coli Expression System, Protein Printing™ platform, and Denovium Engine ™, is expected to significantly shorten the R & D and production cycle of drugs. AbSci has reached cooperation with dozens of top pharmaceutical enterprises and biotech companies, and the R&D projects cover a variety of protein types and treatment fields.
Totient, a Viva Biotech portfolio company, achieved the acquisition agreement with AbSci back to June. To date Totient has reconstructed more than 4,500 antibodies from over 50,000 patients and has de-orphaned a collection of promising antibodies by identifying and validating their target antigens. AbSci's high-throughput single cell protein expression systems and assays offer a complementary platform for rapidly and systematically de-orphaning the computationally derived antibody sequences in Totient's growing library.The disease targets identified may be used in the discovery of new therapeutics, including those based on paired antibody sequences. Additionally, the data captured from billions of single cell experiments offer training sets for AbSci's Denovium Engine™ deep learning models.
As of the closing of the day, AbSci had a market value of about US $1.95 billion.