VANCOUVER, British Columbia & SAN FRANCISCO--(BUSINESS WIRE)--AbCellera (Nasdaq: ABCL) and Versant Ventures today announced a multi-year collaboration to discover therapeutic antibodies for multiple targets selected by Versant’s portfolio of biologics-focused biotechs. Versant and AbCellera already have enabled three of the firm’s stealth-stage companies under previous partnerships.
Under the terms of the deal, Versant portfolio companies will have rights to develop and commercialize the resulting therapeutic antibodies. AbCellera will receive research payments from the companies and will be eligible to receive downstream clinical and commercial milestone payments plus royalties on net sales of products. Further terms are not disclosed.
"In recent years we have made a series of investments into the next generation of therapeutic antibodies,” said Markus Enzelberger, Ph.D., a partner at Versant. “We are seeing a wave of innovation in the antibody space that is allowing us to add novel functionalities to these molecules. Our partnership with AbCellera will further enable our portfolio companies to pursue these important biologic medicines.”
“AbCellera’s discovery technology provides a complete solution for antibody therapeutics that unlocks new opportunities and levels the playing field for smaller companies, allowing them to advance programs faster, more efficiently and with a competitive advantage,” said Carl Hansen, Ph.D., CEO and President of AbCellera. “We are excited to deepen our relationship with the Versant team and look forward to helping them continue a strong track record of bringing together breakthrough science, experienced teams, and capital to create bold new biotech companies.”
Previously, Versant and AbCellera partnered in separate multi-target deals to enable three of the firm’s stealth-stage companies with new approaches to optimize and expand antibody therapies. These include antibody-focused newcos in the fields of immunology and oncology based in Canada, the U.S. and Europe.
About Versant Ventures
Versant Ventures is a leading healthcare venture capital firm committed to helping exceptional entrepreneurs build the next generation of great companies. The firm’s emphasis is on biotechnology companies that are discovering and developing novel therapeutics. With $4.2 billion under management and offices in the U.S., Canada and Europe, Versant has built a team with deep investment, operating and R&D expertise that enables a hands-on approach to company building. Since the firm’s founding in 1999, more than 85 Versant companies have achieved successful acquisitions or IPOs. For more information, please visit www.versantventures.com.
About AbCellera Biologics Inc.
AbCellera is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera partners with drug developers of all sizes, from large pharmaceutical to small biotechnology companies, empowering them to move quickly, reduce cost, and tackle the toughest problems in drug development. For more information, please visit www.abcellera.com.
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Versant Ventures provides investment advisory services solely to privately offered investment funds. Versant Ventures neither solicits nor makes its services available to the public and none of the investment funds are currently open to new investors. Please note that certain statements provided herein may be deemed forward-looking, but any such statements are not guarantees of any future performance and actual results or developments may differ materially from those discussed. The investments identified and discussed above do not represent all of the investments made or recommended by Versant. There is no guarantee that any particular investment will be profitable or that any portfolio company investments made in the future will equal the performance of the companies identified herein. Past performance does not guarantee future results. The information is current as of the date it was published. The contents are not an offer to sell nor a solicitation of an offer to purchase interests of Versant or any current or future related investment fund, nor do they constitute a financial promotion, investment advice or an inducement or incitement to participate in any product, offering or investment. An offer regarding any Versant investment fund may only be made after receipt of a confidential private placement memorandum, review of detailed performance information of Versant’s investment funds, and the opportunity to discuss all matters concerning any prospective investment in accordance with applicable securities laws.
Source: AbCellera Biologics Inc.