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AbSci Announces Strategic Investment by Merck Global Health Innovation Fund
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VANCOUVER, Wash., Feb. 22, 2021 /PRNewswire/ AbSci, a pioneering synthetic biology company that unifies biologic drug discovery and development processes, today announced a strategic equity investment by Merck Global Health Innovation Fund (Merck GHI) and potential discovery collaborations with Merck Research Laboratories.
AbSci founder and CEO Sean McClain said, It has been terrific to work with Merck on many levels. We are pleased to be able to add value and bring solutions to tough problems. With the success of our initial projects, as well as this investment from Merck GHI, we have set in place a foundation upon which to build out a broad and mutually beneficial partnership with Merck. Everyone we have worked with at Merck shares the goal of helping the most patients with the best medicines as quickly as possible.
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AbSci purchases San Diego artificial intelligence startup Denovium
Growing company to relocate to Columbia Tech Center in May By Will Campbell, Columbian Assistant Metro Editor
Published: January 13, 2021, 6:30am
Share: Sean McClain, founder and CEO of AbSci in downtown Vancouver. (Amanda Cowan/The Columbian files)
Vancouver-based biotech company AbSci announced Tuesday that it purchased a deep-learning artificial intelligence startup called Denovium, based in San Diego.
The acquisition will help AbSci work toward its “grand vision,” said founder and CEO Sean McClain: using mass data and artificial intelligence, or AI, to create new molecules with a click of a button without the lengthy process of trial testing. It will help the company create new disease-fighting drugs much faster.
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AbSci acquires AI startup Denovium to boost synthetic biology platform
January 12, 2021 at 7:35 am
AbSci CEO and Founder Sean McClain. (AbSci Photo)
AbSci has acquired Denovium, a 6-person bootstrapped startup out of San Diego that uses deep learning to analyze the function and behavior of proteins.
The deal will help bolster AbSci’s synthetic biology platform. The company’s “Protein Printing” technology is used to discover and manufacture complex biological molecules such as antibodies and insulin.
AbSci plans to integrate the Denovium Engine into its own development capabilities. Terms of the acquisition were not disclosed.
Vancouver, Wash-based AbSci is coming off a $65 million investment round raised in October; the company has raised $100 million to date. It employs 85 people and plans to double headcount this year after more than doubling its revenue in 2020. The company is led by CEO and founder Sean McClain, who started AbSci in 2011.
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