Absci Shares Leap Premarket on Collaboration With Merck >ABSI

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Colin Kellaher. By

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Shares of Absy Corp. rose more than 50% in premarket trading Friday after the drug and target search company said it formed a research collaboration potentially worth more than $600 million with Merck & Co. It will use an AI-powered integrated drug creation platform.

Ebbsie, based in Vancouver, Wash., said it would use its bionic protein non-standard amino acid technology to produce enzymes tailored to Merck’s biomanufacturing applications in exchange for an upfront payment and a few other milestone payments. Will do

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The Kenilworth, NJ, drugmaker Merck has the option to nominate three targets and enter into a drug discovery collaboration agreement, which will then send ABSC $610 in advance fees and milestone payments for all three targets, the company said. million will be achievable. , with tiered royalties on research funding and sales.

Shares of Absci, which closed Thursday at $6.14, rose 51.5% to $9.30 in recent premarket trading.

Write to Colin Kellaher at [email protected]

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