Absci Corp (NASDAQ: ABSI)

Absci Corp, also known by its stock symbol ABSI, operates in the biopharmaceutical industry, specifically as a data-first generative AI drug creation company. Absci is dedicated to combining AI with scalable wet lab technologies to develop better biologics for patients in a more efficient manner.

The core of Absci's business activities revolves around its Integrated Drug Creation platform, which aims to enhance traditional biologic drug discovery by utilizing AI to optimize multiple drug characteristics crucial to development and therapeutic benefit. The platform's capabilities allow it to generate billions of antibody designs and screen millions of ranked antibody sequences within weeks, significantly cutting down preclinical development timelines from 5-7 years to 18-24 months.

Absci's platform plays a pivotal role in its partnerships for drug creation across various indications. It uses AI to simultaneously optimize multiple drug characteristics, making it a valuable tool for pharmaceutical and biotechnology companies. The company has several Active Programs with undisclosed partners, including one that leverages its platform to optimize pharmacokinetic properties for a Phase II candidate and another that utilizes its antibody library.

In addition to its partnerships, Absci has a diversified portfolio of internal programs. This includes three wholly-owned internal asset programs focusing on cytokine biology and several undisclosed internal pipeline programs under evaluation. The company's strategy involves establishing its proprietary platform as the industry standard for biologic drug creation.

Absci faces competition from companies such as Generate Biomedicines, Inc., Exscientia Limited, Recursion Pharmaceuticals, Inc., Relay Therapeutics, Inc., Isomorphic Labs Limited, and Schrodinger, Inc., among others. However, its strong position within the industry is supported by its diversified portfolio of internal programs and robust pipeline of potential milestone revenues and royalty streams.

Absci's customers primarily consist of pharmaceutical and biotechnology companies that seek to develop new biologics using its proprietary platform. The company has established partnerships with several undisclosed partners and is actively seeking new partnerships to further develop its pipeline of biologics.