AbCellera

FDA revoked EUA for bamlanivimab alone, bamlanivimab with etesevimab, and REGEN-COV, updating fact sheets for healthcare providers on SARS-CoV-2 variants' susceptibility to authorized monoclonal antibody therapies for COVID-19 treatment, aiming to inform patient care decisions.

AbCellera expanded its AI-powered antibody drug collaboration with Eli Lilly, reflecting growing AI use in healthcare. Biotechnology, driven by pandemic lessons, is accelerating in fields like regenerative medicine and biopharmaceuticals. The global biotech market is projected to grow at a 13.96% CAGR, driven by government support and AI innovations. AI is revolutionizing drug discovery and development, attracting significant VC investment, with biotech IPOs leading in the US.

DCVC Bio closed its third main fund at $400 million, focusing on AI-driven platforms for new medicines and sustainable solutions. Portfolio highlights include AbCellera's COVID-19 antibody treatment, Avicenna Biosciences' Rho kinase inhibitors, Umoja Biopharma's in vivo CAR-T therapy, and innovations in agriculture and sustainable materials.

AbCellera (NASDAQ: ABCL) will announce Q3 2024 financial results on Nov 4, 2024, with an earnings call at 2:00 p.m. PT. A live webcast and replay will be available on AbCellera's Investor Relations website.