24 May 2023 - - Canada-based AbCellera (NASDAQ: ABCL) has received a CAD 701m co-investment with the governments of Canada and British Columbia to build new capabilities and infrastructure to develop innovative antibody-based medicines and strengthen Canada's leadership in clinical research, manufacturing, and drug development, the company said.

Over the next eight years, AbCellera plans to invest CAD 401m in the project, and the governments of Canada and British Columbia will contribute CAD 225m and CAD 75m, respectively.

These investments will build new capabilities in Canada to develop, manufacture, and deliver antibody medicines to patients through Phase 1 clinical trials and build expertise in translational science, technical operations, and clinical operations and research.

AbCellera's team was joined earlier TODAY at the company's headquarters in Vancouver by the Honourable David Eby, Premier of British Columbia, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, and the Honourable Brenda Bailey, Minister of Jobs, Economic Development and Innovation to announce this new program.

Project Details:

Build a biotech campus with state-of-the-art capabilities for bringing new antibody-based medicines to the clinic, and patients, faster

Initiate up to 17 drug development programs for new antibody-based medicines, with an initial focus on cancer and immune diseases

Conduct multiple Phase 1 clinical trials in British Columbia and across Canada

Create and maintain hundreds of highly skilled jobs at AbCellera across computer science, life sciences, healthcare, and manufacturing

AbCellera is advancing antibody drug discovery to bring better medicines to patients, sooner.

AbCellera's engine integrates expert teams, technology, and facilities with the data science and automation needed to propel antibody-based medicines from target to clinic in nearly every therapeutic area with precision and speed.

AbCellera provides biotechs and leading pharmaceutical companies with a competitive advantage that empowers them to move quickly, reduce cost, and tackle the toughest problems in drug development.