AI-Based Antibody Discovery Company Files $391 Million IPO

AbCellera Biologics Inc. announced terms of its IPO which could value the artificial intelligence (AI)-powered drug discovery company at up to $4.52 billion, reported MarketWatch. The Vancouver-based company has worked with Indianapolis-based Eli Lilly & Co. on the human antibody Bamlanivimab.

Bamlanivimab obtained Emergency Use Authorization from the U.S. FDA on November 10, 2020, to treat COVID-19 patients. About 1 million doses are anticipated to be manufactured by the end of 2020.