Absci partners with AMD, investing $20 million to enhance AI-driven drug discovery and antibody design capabilities.
Quiver AI Summary
Absci Corporation has announced a strategic partnership with AMD to utilize AMD Instinct™ accelerators and ROCm™ software for advancing AI-driven drug discovery, specifically in de novo antibody design. As part of this collaboration, AMD will invest $20 million in Absci through a private investment in public equity (PIPE). This partnership aims to enhance Absci's ability to develop biologics more efficiently by leveraging advanced AI technologies and reducing costs associated with biological modeling. Absci's CEO Sean McClain will address the partnership at the upcoming J.P. Morgan Healthcare Conference on January 15, 2025. Both companies are excited about the potential to revolutionize the drug discovery process, with AMD providing high-performance computing solutions tailored for complex biological challenges.
Potential Positives
- Absci Corporation announced a strategic collaboration with AMD, which will enhance its AI drug discovery capabilities through the deployment of AMD's high-performance computing solutions.
- AMD's $20 million investment in Absci as part of a private investment in public equity (PIPE) demonstrates strong financial confidence in Absci's innovative technology and potential growth in the market.
- The partnership is expected to accelerate the development of next-generation antibody therapeutics, aligning with Absci's mission to create better biologics for patients more efficiently.
- Absci's advanced de novo antibody design models will benefit from AMD's optimized AI solutions, potentially leading to reduced infrastructure costs and faster innovation cycles in drug discovery.
Potential Negatives
- Absci is heavily reliant on the collaboration with AMD for critical AI drug discovery workloads, indicating a potential vulnerability if the partnership does not yield the expected results.
- The $20 million investment from AMD is structured as a private investment in public equity (PIPE), which may signal a need for external funding amidst potential financial pressures.
- The press release contains numerous forward-looking statements, suggesting a level of uncertainty around the company's future performance and ability to deliver on its ambitious goals.
FAQ
What is the strategic collaboration between Absci and AMD?
The collaboration involves deploying AMD Instinct™ accelerators and ROCm™ software for AI drug discovery workloads at Absci.
How much is AMD investing in Absci Corporation?
AMD is making a $20 million investment in Absci, structured as a private investment in public equity (PIPE).
What is the mission of Absci Corporation?
Absci’s mission is to create better biologics for patients faster, leveraging AI solutions for advanced biological modeling.
When will Absci's CEO discuss the partnership?
Absci's CEO, Sean McClain, will discuss the partnership at the J.P. Morgan Healthcare Conference on January 15th, 2025.
What technologies does Absci use for drug discovery?
Absci combines AI with scalable wet lab technologies in its Integrated Drug Creation™ platform to optimize biologics development.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
VANCOUVER, Wash., Jan. 08, 2025 (GLOBE NEWSWIRE) --
Absci Corporation
(NASDAQ: ABSI), a data-first generative AI drug creation company, today announced a strategic collaboration with
AMD
to deploy AMD Instinct™ accelerators and ROCm™ software to power critical AI drug discovery workloads, including Absci's advanced
de novo
antibody design models. AMD will also make a $20 million investment in Absci, structured as a private investment in public equity (PIPE), underscoring the growing demand for innovative AI applications in drug discovery.
The strategic partnership supports Absci’s mission of creating better biologics for patients, faster by providing optimized AI solutions for complex biological modeling that offer exceptional performance, reduced infrastructure costs, and faster innovation cycles. Absci Founder & CEO Sean McClain will discuss the strategic partnership at the 43rd Annual J.P.Morgan Healthcare Conference on Wednesday January 15th at 4:30pm PT. Absci and AMD will showcase the exceptional performance of AMD’s Instinct accelerators in addressing complex biological applications, including Absci’s proprietary IgDesign1 model, the first
in vitro
validated inverse folding model for antibody design.
"At Absci, we are always looking for ways to push the boundaries of what’s possible in drug discovery," said Sean McClain, Founder & CEO of Absci. "This partnership with AMD gives us the unique advantage of working closely with a partner that is deeply committed to supporting our needs while providing the most efficient, innovative AI solutions available. AMD high-performance compute will enable us to further the development of next-generation antibody therapeutics, and we are excited about the potential that this partnership holds to accelerate the future of drug discovery."
“We are proud to partner with Absci, a company at the forefront of AI-driven drug discovery, to help further accelerate breakthroughs in therapeutics and transform how biologic drugs are developed,” said Mark Papermaster, Executive Vice President and Chief Technology Officer of AMD. “Absci’s groundbreaking work in AI drug discovery is a perfect fit for AMD high-performance computing solutions and software, designed for the most demanding AI workloads.”
About Absci
Absci
is a data-first generative AI drug creation company that combines AI with scalable wet lab technologies to create better biologics for patients, faster. Our
Integrated Drug Creation
™ platform unlocks the potential to accelerate time to clinic and increase the probability of success by simultaneously optimizing multiple drug characteristics important to both development and therapeutic benefit. With the data to train, the AI to create, and the wet lab to validate, we can screen billions of cells per week, allowing us to go from AI-designed candidates to wet lab-validated candidates in as little as six weeks. Absci’s headquarters is in Vancouver, WA, with our AI Research Lab in New York City and an Innovation Center in Zug, Switzerland. Visit
www.absci.com
and follow us on LinkedIn (
@absci
), X (Twitter) (
@Abscibio
), and
YouTube
.
About AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics, and visualization technologies. Billions of people, leading Fortune 500 businesses, and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work, and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD)
website
,
blog
,
LinkedIn
and
X
pages.
Absci Forward-Looking Statements
Certain statements in this press release that are not historical facts are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements containing the words “will,” “may,” “pursues,” “anticipates,” “plans,” “believes,” “aims,” “potential,” “forecast,” “estimates,” “extends,” “expects,” and “intends,” or similar expressions. Absci intends these forward-looking statements, including express or implied statements regarding acceleration of the future of AI drug discovery, Absci’s leadership in AI drug discovery, Absci’s ability to leverage AMD’s equity investment, and Absci’s ability to create better biologics and develop next generation antibody therapeutics, among others, to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and Absci makes this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect Absci’s current views about its plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to it and on assumptions Absci has made. Absci can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved, and furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond Absci’s control, including, without limitation, risks and uncertainties relating to Absci’s ability to leverage AMD’s investment, effectively collaborate on research, drug discovery and development activities with its partners or potential partners, Absci’s dependence on third parties to support its internal development programs, including for the manufacture and supply of preclinical and clinical supplies of its product candidates or components thereof, its existing and potential partners’ ability and willingness to pursue the development and commercialization of programs or product candidates under the terms of Absci’s partnership agreements, and overall market conditions and regulatory developments that may affect Absci’s and its partners’ activities under these agreements, along with those risks set forth in Absci’s most recent periodic reports filed with the U.S. Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, Absci assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Absci Investor Contact
Alex Khan
VP, Finance & Investor Relations
investors@absci.com
Absci Media Contact
press@absci.com
Investor Relations:
Matt Ramsay
AMD Investor Relations
Matthew.Ramsay@amd.com
AMD Media Contact
Brandi Martina
AMD Communications
brandi.martina@amd.com
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