Among other initiatives, the firm plans to continue development of its Denovium Engine deep-learning AI platform, which it acquired in January. The company will also expand its core discovery capabilities including nonstandard amino acid technologies.

AbSci developed synthetic drugs through the use of its platform technologies, SoluPro E. coli expression system and Protein Printing platform. These technologies enable the company to simultaneously create novel biotherapeutic drugs -- and the cell lines to manufacture them -- in a single efficient process.

Drug candidates are selected for optimal target potency and affinity as well as high-titer expression. Then, a good manufacturing practice (GMP)-ready manufacturing cell line is developed for each asset.

The financing round was co-led by Casdin Capital and Redmile Group, with new investors Fidelity Management and Research, D1 Capital Partners, Perceptive Advisors, AMoon Edge, and Irving Investors, AbSci said.