MONTREAL, June 18, 2024 /CNW/ – Ability Biologics (“Ability”) announced the closing of its 18-year seed financing million US dollars, a financing round led by Amplitude Ventures (“ Amplitude ), a founding investor in Ability. The Fonds de solidarité FTQ, Investissement Québec, Charles River Laboratories, Theodorus and Alexandria Venture Investments joined Amplitude in this round. Ability, a pioneer in the application of generative artificial intelligence (AI) in the development of novel biotherapeutics, is using its platform to develop effective and selective antibodies for the treatment of cancer and immune-related disorders. Thanks to its AbiLeap research platformMCAbility generates innovative logically activated antibodies with the potential to become reference or new category drugs.
Giles Day, Co-Founder and CEO (CNW Group/Ability Biologics)
Ability’s management team has extensive experience from antibody discovery to commercialization, including all stages of biotherapeutic development and engineering. Executives leverage their experience to create next-generation antibodies using powerful computing tools, combined with their proprietary AbiLeap AI platformMC. This is backed by one of the largest antibody-antigen interaction databases ever built, which brings together more than five years of research data, in addition to integrating public and private data sources. AbiLeapMC allows Ability to target a persistent research problem: the generation of fully human, logically activated antibodies capable of targeting specific tissues and cells based on local microenvironment parameters (secondary antigens, pH, temperature or presence of specific metabolites ).
“There is a growing need for a new generation of antibodies and modalities, since simply binding, inhibiting or activating a single receptor is no longer sufficient to achieve the desired therapeutic impact. said Giles Day, Co-Founder and CEO of Ability. “ Ability’s platform combines multiple approaches in a single molecule, improving the specificity and affinity needed to develop effective treatments with broad therapeutic windows. To do this, our antibodies use proven IgG formats that facilitate manufacturing, storage and administration, avoiding complex formats that present multiple risks, from manufacturing to immunogenicity », concludes Giles Day.
“We are focused on solving complex challenges in biology, and one of them is tackling the problem of therapeutic toxicity that limits the usefulness of antibody therapy “, said Dion Madsen, CFA, co-founder and partner at Amplitude Ventures. “ Ability’s proprietary platform stands out as an innovative way to rapidly develop selective, potent and targeted biotherapies to improve potency and therapeutic benefits for patients “.
“The life sciences and biotechnology sector is continually transforming and we are proud to financially support Ability in its innovation journey,” said Bicha Ngo, President and CEO of Investissement Québec. The application of the most recent technologies, such as artificial intelligence, in the development of antibodies will make it possible to consolidate Quebec’s expertise in this first-rate field for the treatment of different types of cancers, and possibly other diseases, which affect many Quebecers each year “.
About Ability Biologics
Ability Biologics is a leading company in biotherapeutic targeting. Its powerful AbiLeap search platformMC combines massively parallel, constantly learning AI with a vast database of antibody-antigen interactions to generate multi-specific human antibodies with scalable affinities and incomparable selectivities. These so-called logical activation antibodies respond to signals from the cellular microenvironment, contextualizing the activity of drugs and making them more specific. These biotherapeutics will target pathologies with significant unmet therapeutic needs. To learn more, visit ability.bio, our LinkedIn page or contact us by email: [email protected].
About Amplitude Ventures
Amplitude is an integrated venture capital firm that uses a unique growth model to create companies with world-class management teams and grow them to their full potential. With more than $500 million under management and offices in Montreal, Toronto And Vancouver, Amplitude applies a proven, evidence-based approach to investing in leading precision medicine companies. Visit amplitudevc.com to learn more.
About the FTQ Solidarity Fund
The FTQ Solidarity Fund is a source of Quebec pride which achieves its mission thanks to a unique business model created 40 years ago. Since then, the Fund has rallied and put Quebec into action thanks to the retirement savings of 765 721 shareholder-savers. With net assets of $18.9 billion as of November 30, 2023, the Fund supports more than 3 700 companies through investments in venture and development capital which rely on the conviction that impact is created as much by financial return as by societal returns. To learn more, visit fundsftq.com or LinkedIn.
About Investissement Québec
Investissement Québec’s mission is to actively participate in the economic development of Quebec by stimulating business innovation, entrepreneurship and takeover as well as the growth of investment and exports. Active in all administrative regions of Quebec, the Company supports the creation and development of businesses of all sizes through investments and adapted financial solutions. Investissement Québec also supports businesses with advisory services and other support measures, including technological support offered by its team of innovation experts. Also, thanks to Investissement Québec International, the Company supports companies in exporting and ensures the conduct of prospecting for talent and foreign investment in Quebec. To find out more, visit investquebec.com.
About Theodorus
Theodorus is a venture capital fund dedicated mainly to spin-offs from the Free University of Brussels (ULB) which also invests in other innovative life sciences companies. The fund primarily invests in early-stage biotechnology, medical technology and health technology companies that have developed disruptive innovations. Beyond its financial role, Theodorus plays an active role in the development of its portfolio companies, supporting them towards success. Today, the fund manages more than $100 million in assets which have supported more than 40 companies. Theodorus has offices in Montreal and Brussels. Visit theodorus.be for more details.
SOURCE Ability Biologics
Media contact: Philippe Périou Communications-Marketing, [email protected]+1.450.831.4414 (GMT – 4h)
