AI drug discovery platform AbCellera prices upsized IPO at $20, above the upwardly revised range

Talk about a hot market. Renaissance Capital recently published a piece on NASDAQ.com regarding AbCellera, an artificial intelligence drug discovery platform, crushing it on their IPO.

From the release:

“AbCellera Biologics, which provides an AI powered drug discovery platform for antibody therapies, raised $483 million by offering 24.2 million shares at $20, above the upwardly revised range of $17 to $18. The company offered 1.2 million more shares than anticipated. It originally planned to offer 23 million shares at a range of $14 to $17 before raising the range on Thursday. At pricing, the company raised 20% more in proceeds than anticipated.”

AbCellera’s website describes what they do as, “We search, decode, and analyze natural immune systems to find antibodies that our partners can develop into drugs that improve health.” They use antibodies found in other species to enable the discovery of therapeutics. Companies like AbCellera could present interesting collaborative opportunities for GATC Health. Just as importantly, their success on the NASDAQ tells us we are in exactly the right market at exactly the right time.

Read the full article here.

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