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Good day and thank you for standing by. Welcome to the Absci Q3 2024 Business Update Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Alex Khan, VP, Finance and Investor Relations. Please go ahead.

Thank you. Earlier today, Absci released financial and operating results for the quarter ended September 30th, 2024. If you haven't received this news release or if you would like to be added to the company's distribution list, please send the email to investors.absci.com, an archive webcast of this call will be available for a replay on Absci's Investor Relations website at investors.absci.com for at least 90 days after this call. Joining me today are Sean McClain, Absci's Founder and CEO; and

Thanks, Alex. Good morning, everyone and thank you for joining us for our third quarter business update call. Today, we are excited to discuss some of the latest progress we have made throughout our portfolio programs, both partnered and wholly owned, and share some additional information ahead of our 2024 R&D Day next month. Toward the end of last year, we entered into a collaboration with Astra

Thanks, Sean. As Sean mentioned, we recently entered into an exciting new partnership with Twist Bioscience. This collaboration brings together Absci’s Generative AI drug creation platform with Twist DNA synthesis platform to accelerate the design and preclinical development of a novel therapeutic antibody for a biological target implicated in multiple disease areas. For this collaboration, Twist's silicon-based synthesis platform will help power early-stage R&D, including testing and validation of antibody candidates designed using Absci's Generative AI technology platform. Following the planned early development of this program, Twist and Absci intend to seek a partner for further human clinical development and commercialization. We are proud to add another great partner to our list of collaborators, which includes Astra

Thanks,

Thank you. [Operator Instructions]. Our first question comes from Srikripa Devarakonda Truist Securities. Your line is open.

Hey, guys. Thank you so much for taking my question and congrats on all the progress this year. I had a question about the Astra

Yes, absolutely. Thanks, Kripa. Yes, so we think that this is a really great validation of the platform. We are able in six months to deliver on a binder that could bind to a target where there was no binder. And we see this as, again, I think really great validation. And

Thanks, Sean. Yeah. As you may recall, the partnership with Astra

Great. Thank you.

Thank you. And our next question comes from Brendan Smith with TD Cowen. Your line is open.

Hi. This is Jackie on the line for Brendan. Thanks so much for taking my question. I guess just looking at both your R&D Day and the upcoming updates that you have for the first half of 2025. Can you give us any expectations on what we can reasonably expect data wise? What kind of data, which assets will be involved, and how much data do you plan on discussing?

Yeah, absolutely. So with ABS-201 at R&D Day, this will be a very similar data package to what we presented for ABS-101, our tier 1A asset. And so that will be a robust preclinical data package and we plan to with this announce a drug candidate on that. And then, later in the first half, we do plan on presenting efficacy data on ABS-301 and so those are kind of the, I would say two major data readouts R&D Day and in the first half.

Great. That's super helpful. And then, just one more. As you near IND stage for your ABS-201, are you also planning on using the same manufacturers for the second asset as you did for ABS-101? And, when we're looking at expected R&D, should we kind of picture that ramping similar to 101 over 2025?

Yes. We are using the same manufacturer for ABS-201. And in terms of overall expense, I would assume similar expenses.

Great. Thank you.

Thank you. Our next question comes from.

Just before the next question, just a quick correction. I think believe I gave the wrong number in the prior answer around Astra

Our next question comes from George Farmer with Scotiabank. Your line is open.

Couple more partnerships you're expecting this year. Can you say anything more about that? These large pharma partners or on the smaller side?

Sure. Thanks, George. What I can say, George, is we continue to advance several discussions with the prospective partners here in Q4. It's a mix of different types of companies and sizes. That's probably all I can say at this point.

Okay. And, just noticed with ABS-301, is that a slight delay? I think you've been have been guiding to provide a little bit more insight into that program by the R&D Day, but now it looks like it might be delayed.

That is correct. We are seeing a slight delay on ABS-301 and where we're running it at our CRO. This has nothing to do with the actual efficacy of the study itself, but the studies have been delayed just slightly on that.

Okay. Great. Thanks very much.

Yes. Thank you, George.

Thank you. And our next question comes from Vamil Divan with Guggenheim Securities. Your line is open.

Good morning. This is Archie on for Vamil. Thank you for taking our question is on the planned healthy volunteer study for ABS-101 next year. Understanding that you may be providing additional detail about that program at your R&D Day and maybe limited to what you can share today. What would you like to see from that study in terms of antibody half-life? What do you believe the bar is there?

Yes. Thank you. Christian, do you want to take that question?

Sure. Thank you for the question. Indeed, as you correctly mentioned, this will be healthy volunteer study and our intention is to measure pharmacokinetics in this study as usual in such a healthy volunteer setting. In terms of our expected half-life, we expect to achieve a profile that is similar for half-life engineered antibodies. At a minimum case, we expect to have dosing levels that allows once monthly dosing potentially up to once quarterly.

Okay. Thank you.