The funds will be used to accelerate the development of biologics and to invest in technologies that complement and extend its antibody discovery platform. Specifically, AbCellera will use the funds to create and aggregate novel tools to propel the development of new biological modalities, from monoclonal, multispecific, and single-domain antibodies, to bioconjugates, gene-encoded biologics, and cell therapies.
The money also will be used to expand AbCellera's workforce, open a new research facility in 2021, and build a manufacturing facility that will produce biologics for clinical testing.
Current investor DCVC Bio and OrbiMed led the financing. Other investors include Viking Global Investors, Peter Thiel, Founders Fund, Eli Lilly and Company, the University of Minnesota, and Presight Capital.
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