Ability Biologics recently announced the closing of its $12 million (US) funding round led by founding investor Amplitude Ventures. Amplitude was joined by Fonds de solidarité FTQ, Charles River Laboratories, Alexandria Venture Investments and Page One Ventures.
Ability Biologics will utilize its AbiLeap discovery engine to systematically generate logic-enabled antibodies with the potential to become best-in-class or first-in-class therapeutics. And Ability’s goal is to become the world’s premier biotherapeutic targeting company by discovering and developing potent, selective antibody therapeutics.
Ability was launched by Amplitude Ventures working with co-founders Giles Day, CEO, and Jean-Philippe Bürckert, Vice President of Technology, to build a management team with deep experience in immunology, antibody discovery and engineering and drug development from the bench to commercial stage. And their goal is to create the next generation of antibodies using powerful computational tools through its unique, proprietary AI platform.
The AbiLeap discovery engine combines an Artificial Intelligence (AI) platform with one of the largest databases of antibody-antigen interactions ever constructed, bringing together over five years of discovery data, incorporating both public and private data sources. And this enables Ability to address a longstanding challenge by generating fully human antibodies that are logic-gated, enabling them to target specific tissues and cells based on the local microenvironment dictated by conditions such as pH, temperature, or the presence of certain metabolites.
Ability already established a partnership with Charles River Laboratories, a highly respected, global provider of drug discovery and non-clinical development solutions. And Ability is establishing its laboratories in Montreal, which is emerging as a fast-paced R&D hub in key areas such as biologics, antibodies, and AI.
KEY QUOTES:
“Ability provides the high specificity and tunable affinity targeting necessary to develop potent therapeutics with broad therapeutic windows in areas of high unmet medical need. Our antibodies employ tried and tested IgG formats that enable easier manufacturing, storage and administration, avoiding the complex and lengthy procedures that can extend the time frame for drug development.” Ability plans to use the funding raised to bring several internal drug candidates through the preclinical proof-of-concept stage. The company will also partner with leading companies to co-develop additional drug candidates.”
— Giles Day, Co-founder and CEO of Ability
“There is a lot of activity in the antibody generation space, but we are focused on solving the next set of complex biology challenges. Ability’s proprietary platform stands out as it provides an unrivalled way of creating uniquely differentiated, potent, ultra-targeted biotherapeutics with markedly increased specificity and selectivity.”
— Dion Madsen, CFA, Co-founder and Partner at Amplitude Ventures
“Ability is at the intersection of two renowned sectors in Quebec, drug development and AI. The Fonds is proud to a be a part of this adventure with this company choosing to establish roots in Quebec, and with a management team poised for success. Our participation in this transaction adds to our historical investments of nearly C$2 billion in the life science sector.”
— Geneviève Guertin, Vice-President of Private Equity and Impact Investing/Life Sciences at the Fonds de solidarité FTQ
