AbSci Secures $125M in Financing
AbSci, Corp. has recently announced a successful crossover financing, achieving $125 million. Two months before this, they acquired an AI engine to speed up drug development. The company was founded in Oregon and has since grown into a leading synthetic biology company that translates ideas into drugs.
AbSci has been training the Denovium AI engine to speed up their R&D process by accounting for and optimizing manufacturability, functionality and expression of new compounds. They haven’t released a decision on their next steps but are considering another financing round or an IPO. They are hoping to automate the drug development process by expanding Denovium’s self learning significantly. The more you teach it, the more it can teach itself. AbSci hopes it will be able to essentially discover a drug and its cell line at the push of a button.
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