Absci (NASDAQ:ABSI) reports Q1 financial results, alongside advances in drug development
Full story: https://grafa.com/news/absci--nasdaq-absi--reports-q1-financial-results--alongside-advances-in-drug-development-221932 Absci Corporation (NASDAQ:ABSI), a data-first generative AI drug creation company, announced its financial results for the first quarter of 2024 ended March 31. The company reported notable progress in its drug development programs, including the initiation of IND-enabling studies for its anticipated best-in-class anti-TL1A antibody, ABS-101, and the advancement of other preclinical studies encompassing ABS-201 and ABS-3
MRNA, SDGR, ABSI, EXAI & RXRX Work with AI Companies to Accelerate Drug Development
With the continuous advancement of AI technology, more innovative medical applications will inevitably emerge in the future. $Recursion Pharmaceuticals, Inc.(RXRX)$ partnered with chipmaker $NVIDIA Corp(NVDA)$ in 2023 to conduct AI-led drug development, and the company's stock surged after the announcement.On Wednesday, $Moderna, Inc.(MRNA)$ , the developer of the COVID-19 vaccine, announced a partnership with OpenAI to deploy the AI company's ChatGPT Enterprise in its business to accelerate drug development.According to the collaboration agreement, approximately 3,000 Moderna employees will have access to ChatGPT Enterprise, built on OpenAI's cutting-edge langua
Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit. It has a collaboration with Memorial Sloan Kettering Cancer Center to discover novel therapeutics using generative AI; with AstraZeneca PLC for AI-driven drug discovery against an oncology target; and with Twist Bioscience Corporation to design a novel therapeutic using generative AI. The company was founded in 2011 and is headquartered in Vancouver, Washington.