Hot on the heels of Canadian government funding, AbCellera closes Series B round at $195m

27 May 2020 (Last Updated May 27th, 2020 12:46)

Within a month of receiving $175.6m from the Canadian Government to supports its Covid-19 antibody drugs, Vancouver-based AbCellera has closed a $105m Series B financing round.

The round was led by OrbiMed, DCVC Bio, and a syndicate of investors, which include Viking Global Investors, Peter Thiel and Eli Lilly.

The money will be used to further improve AbCellera's proprietary technology and support the building of a GMP manufacturing facility.

DCVC Bio managing partner John Hamer said: “AbCellera is at the intersection of biology, technology, and AI, allowing it to make new antibody drug discovery advancements, which we previously couldn’t dream of, possible.

“From developing therapeutics for neurological diseases to COVID-19 and everything in-between, AbCellera is transforming the antibody discovery process, delivering more possibilities in less time and with less expense.”