AbCellera has closed a $105 million Series B financing to further advance its antibody drug discovery platform.
The financing was led by OrbiMed and current investor DCVC Bio, with an investor syndicate that includes Viking Global Investors, Peter Thiel, Founders Fund, Eli Lilly and Company, University of Minnesota, and Presight Capital.
With the proceeds of the financing, AbCellera will expand its capacity and invest in technologies that complement and extend its proprietary antibody discovery engine.
“Drug development takes too long, fails too often, and costs too much. With the backing of visionary investors, we will double-down on our strategy of making long-term investments in technology and teams that are needed to put drug development on the fast track,” said Carl Hansen, Ph.D., CEO of AbCellera.
“We’re building a modern operating system for drug developers to ensure the best science is translated quickly into new therapies for patients.”
AbCellera will use the funds to deepen its technology stack, creating and aggregating novel tools to propel the development of new biological modalities, from monoclonal, multi-specific, and single-domain antibodies, to bioconjugates, gene-encoded biologics, and cell therapies.
The funds will also support the growth of company’s facilities and teams, expanding its workforce, opening a new 48,000 sq ft facility in 221 and building a GMP manufacturing facility for production of biologics for clinical testing.