Earnings call transcript Q3 2022

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Operator

Good afternoon. And welcome to AbCellera's Third Quarter 2022 Business Update Conference Call. My name is Dania, and I'll facilitate the audio portion of today's interactive broadcast. [Operator instructions] At this time, I'd like to turn the call over to Tryn Stimart, AbCellera’s Chief Legal and Compliance Officer.

Tryn Stimart

Thank you. to quarter welcome business and afternoon, AbCellera's XXXX third update. Good just us to in we issued investor closed relations have on pleased can today which our the you today, you release website. announced We're our results with as find market the will press after discuss With me on are call the Dr. Officer Chief Carl and Booth, Hansen, Executive AbCellera's AbCellera’s Andrew President; and Chief Financial Officer. during this call that refer to presentation contains we slide of the a portion webcast The call. will

the phone If investor of slide you website. access following wish are do relations the our portion the presentation, on and may on of you this to along so section

For via there have the may the web. the able you of that delay those a be who that and streaming please portion be will aware questions accessed post be not webcast, to

statements management's Act Any of are expectations performance. the factors future the contain here harbor safe may for our filings on of XXXX. subject that Reform review certain The and presentation risk could based Private current today Litigation impact are uncertainties. pursuant to Please Securities risks our and SEC to statements forward-looking forward-looking provisions

presentation Our are SEC investor on and relations website. our filings available

during that dollars dollars. today Note are all U.S. call our to referred

turn over the pleased Carl Hansen. to am I Now, to call

Carl Hansen

a XXth discovery. my to the thanks XXX anniversary three business joining And we to November quarter continents. of a idea, and powerful third creation everyone industries’ now six the our we’ve Incorporation. company bringing decade we across deliver Thanks countries antibody engine Along believe bold people Tryn. critical business a the of lab to grown and marks rebuild provide us AbCellera way, most therapies pleasure four and in found from today. After the for nearly an world. It’s the to counters new of spread for on step for antibody the have the Today, on product AbCellera update of X, rethink We XXXX. building,

industry patients effort our and also the over COVID-XX but leader to development and competitive reputation arguably once, where We've just earned sensitive therapies time different programs not history. a drug was succeeded a pandemic, and twice and has validated XX on platform the in have failed. authorized We’ve for bringing in as worked in have bebtelovimab most antibodies, in the delivering what bamlanivimab others

is either have achieved a equivalents all competitive construction. in of For we a core on place this young XXX,XXX Over the we state-of-the-art is put and need on have assembled And under marketable nearly million outstanding this nearly securities. cash have technologies business of balance we company, innovation strategy. have of operational that next our decade team; taking or and million the of We've foundation position we square accelerating an $XXX exceptional. execute earnings, the feet that XX-year accumulated our are proprietary and embark period, It our we $XXX while this to solid facilities to building level. over that in total in next

Our strategy business simple. is

the in the that to the in target solution antibody has and to We to use are of antibody technology future drugs. taking partners clinic. capability And is this a the patients a to to delivered large fundamentally clinic. is with best success partners win-win provide ultimately with their exchange, therapies in in future a and In strategy. need. full programs advantage world This in diversified therapies be a share competitive bringing we First, the it stakes of and second portfolio from to build

partner. is to a In enriched the portfolio assemble shareholders, providing parts. addition tailored our and that using smooths market the best by out model biotech its to structures of deal each curated that are for binary for this We our of investing risk slice each access opportunity

fall programs three into categories. Our

partnerships, milestones, initiative First, and ongoing clinical our royalties programs, structured technology upfront research discovery typical Through preclinical candidates when digit we studies. co-development programs, on these deals, efforts. we partners for and development from are fees, discovery know include IND partner-initiated back arise programs to are deliver to In and antibody second, generate most the our through development net discover third, helped pre single that partner We partner deals and that clinic. around sales. further partner-initiated we've molecules enabling succeeding to progress work,

closer partners bringing This patient. quarter, can update you we antibodies to accelerate two on discovered

First, by clinical the a of X partner disease, is development for AbCellera Phase the treatment is at This start indicated of unnamed Alzheimer's area discovered an need. entered for molecule which quarter. unmet antibody the an of huge

XX% discovery GPCRs potential to an technology difficult economics further Regeneron are this discovered challenging molecules most to option targets, or us antibody co-development our this portfolio in the in the as and a our that widely to as partnership. we like the part G enhancing large the molecule is model, our business order of that preclinical partnership amplification for GPCR. address program and obligation ability Last advance protein a enabled Success to quarter of up of valuable highly regarded year, in the receptor retain was antibody targets in Regeneron. XXXX of our forward invest that for by structure the an partners move development to also one announced needle stake. Second, not coupled of represents but highlights the class undisclosed elected giving This discovery. co-development a an in to

have of seven we a total date, initiated the four with under programs structure partners. To different

positioning that undergoing high In select final are expect we or to quality we and programs, XXXX, programs, optimization. studies. one lead most candidates for more them of meet these the For co-development lead candidates discovered IND enabling advanced requirements program for have

third quarter, our programs, create way last the in the Finally, which we you we pre-partner value. which is introduced

main program protein T-cell targets development. and GPCRs for are these discovered value currently in owned two Channels. areas difficult to reminder, free connection areas in and our memory The high partner work specifically technology a assets new engagers with As wholly Ion development a unlock drug are

CDX quarter, platform, is to the which engager progress we've our Last now we access the CDX industry. to believe platform, and a with shared engager panel panel unprecedented most continues we this T-cell deepest for past in over the the optimization, offers offers and the year developing you with level T-cell made of OrthoMab in In high opportunities attract diverse combination what interest.

Cancer, new of be which data will Meeting characteristics in at present held SITC, Immunotherapy panel will later or the Boston. Annual this We on Society of this the the of for week XXXX

that partnered Channels. models this technology To Now, moving Ion to a on roughly substantial to some for believe our continued is We area our drive been In business. stage. at dozen our in unlock this efforts GPCRs targets. have value and Channel all Ion partnership an still program development date, cases, progress efforts work and pre will to early applied GPCR across

exciting risk In data we remains, sharing of we progress more targets, one made another for summary, success. from ideally and anticipate other positioned AbCellera candidates have while of or in on clinical programs is XXXX. decade these technical For these

product continue will global strategy the We antibody our on investing creation. become leader to in

these this against of only effective I COVID-XX development can variants together with bebtelovimab QX, an ready would continued will for to be of candidate We effective be authorized potential in identified and provide in the antibody be highly past. Through believe to monoclonal expect variants In that of Eli both therapy If and resistant forward ongoing need, over known suggests these our response concern. potent remained done as a with to are program. address and all access variants like More we patient other Before recently, Lilly, to concern. Lilly, part we we antibody a to have high have emerged. COVID-XX. all bebtelovimab we is established, that I our against variants much as and has prophylaxis new candidate the that BQX.X bebtelovimab. path move new to and for two collaboration an lead molecules and BQX, update to likely medical have quickly BQX.X clear on clinical And hand stand Andrew, this, to and BQX be our Eli that continuing experiment of

with hand XXXX over of Andrew? third Booth, that, provide financials. an to CFO overview it And Andrew to I'll now our our quarter

Andrew Booth

progress in metrics the to we quarter start on in strong third of as by I'll our the continue business. business made momentum Carl. Thanks our see key XXXX highlighting

under total This cumulative we growth at we program our quarter quarter, contract started in starts ended the be work to All We the the quarter we to starts work started strong. trailing Overall, represents started no four ever This have of demonstrates quarter have number portfolio. we any programs us signed with participation. of of on XX XXX will strong XXXX starts expect that four programs a include trajectory quarter, in XX in partners. discovery continue new XX the unique which programs all the with a given third new be programs the XX to the of taking the and over continued Well, quarter programs of under with partners. months, contract irregular, we starts. of on downstream

in Importantly, earlier business the metrics do Carl initiated our include partner pre the referenced the that call. technology efforts key numbers included in AbCellera by not development

stage, molecules clinical to a clinic, discovery bringing we in a from total to clinic number at reach molecules the our another partnership of excited molecule For our the are seven. see

with an molecule new and in undisclosed mentioned with entered was has trials Alzheimer's earlier, this an indication us in Carl As by disease. discovered clinical partner partnership

growing We and view specific clinic long-term of revenue of molecules the fees our royalty downstream examples our and payments. midterm near continue potential to list milestone in as from

sales to materialized states announced Lilly commercial health marketed QX. respect With which to QX molecules, providers, bebtelovimab had hospitals of in that they begun and in subsequently care

revenue million government large approximately in from shipments of sales from doses. part the XXX,XXX in of was in approximately the XX,XXX the quarter million. and $XXX the by driven first doses roughly we US to royalties the bebtelovimab This commercial revenue; to $XX Turning quarter both from was of earned the

are some treatments. of expect given resistant uncertain continue to variants, sales availability impact bebtelovimab the and future in counts potentially the of we sales other case While QX,

situation remains As Carl with mentioned, fluid. COVID the

source royalties antibodies funding, royalties non-diluted COVID from viewed always antibodies. without have our as sales of of or We with future these earned from COVID-XX a

Our forward target scale business development integration with to our clinic. is capabilities discovery strategy and invest the from to and in leading and antibody world

other at revenues. Looking

of growing robustness compared earned million XXXX. business. QX discovery our we $X in $X our of research engine relating programs, quarter, underlying capabilities This This reflects work and to the in scale increase million the approximately on of and discovering to fees

and quarter's This to amounts some licensing related also payments small fees. included milestone revenues

year. expanding representing programs. expand Turning we and the our to $X to scaling development million, third on reflects capacity period the internal were two at million quarter execution research $XX deliver as of increase organically R&D to of our to roughly about business the previous the growing continue nearly a programs, teams and increase number of enhancing efforts of same over discovery continuing and The operating relating our be engine expenses, continue for to expenses with investments and on of capabilities. discovery our a discovery directed X/X capabilities Approximately while thirds development the our

for million, the growing million the were quarter driven This In the in to increase approximately compared of continuing support increase for by of expenses development. QX sales $XX approximately QX $XX is The and overall. the and to in $X almost XXXX. XXXX. business approximately million need in the to expenses $X quarter business investments were million, marketing, compared General administration reflects

QX of earnings roughly to our of discovery approximately investments offsetting capabilities This the result million. are our reflects XXXX. recognition royalties profit net our $XX at of bebtelovimab for partners. we this run of efforts loss on to expand in to reporting compares quarter, $XX million continuing a a Looking while This

of a results profit terms share worked out quarter's basic to earnings $X.XX diluted In a basis. of and $X.XX share share, on and a per per this per

We full for XXXX. fiscal be expect of continue to profitable to year the

nine cash contributed operating Looking first to of XXXX flows, at $XXX million the months cash. cash flows for

an property, As securities. months term a invested year we treasury, part the short nine our almost of of include related to net facilities to in increase $XXX largely connected purchase investments approximately of $XX And for All plant as in with $XXX holdings. well the first the payments million our those marketable keep activities and approximately equipment, investment as amounted other million expansion. million, our

with well of quarter we and equivalents together, securities. the finished million cash marketable $XXX over All

years our execute We believe the excellent strategy we that that in and allows strong to growth. three fund us of position with liquidity fully to well runway. sufficient and have in a are We investment beyond next visibility liquidity

And to your with questions. Operator? that, take we'll be happy

Operator

Instructions] [Operator

Piper The of Kim comes the first question from line Do Sandler. of

Do Kim

discovery that little hoping talk Hi, against takes bit it target, more a discovery for thanks progress. question. going a And on could about for the taking GPCR congrats process the I takes -- my was you that Regeneron, And conventional starting point? timelines? when at than have studies take And IND is of responsibility at for extended antibody a this they does candidate, they the specifically your enabling are it different target.

Carl Hansen

Do. Thanks Great.

this take in questions is So Hansen. I'll two turn. those Carl

in your non-GPCR perhaps And first, related by that running. GPCRs. Channels are targets, about and effort against to frame So question or which that we're targets both discovery expanding the to question differences I'll standard more this well, talk as within even Ion

challenges. that it that, the difficult notoriously attractive to those to and GPCRs that are it other the represent of an So high-profile that mechanisms. where or many run two just toxicity where for And has not but issue, targets, either Despite that's target functional to validated includes small well need a of functional thing, includes have modality through been development believed very an are also developable a poor Channels perhaps class the And both real targets, reasons specificity against. the or validated antibodies target. clinical includes and manifold, have huge classes. of are some classes been antibody. epitope historic Ion the are solve assays, out the well right it molecules, that small they largest are that reasons for of antibodies a or have are one in are be discovery there are targets through been both identifying There of immunogenicity capabilities and the against estate activity available binding And special

supposed So it is not drug. efficacious, with that molecule from What the develop to latticework target it's is a also you that thing. really properties is needed as allow high and a through probability of a to to one it's to go technologies has name does do a what

now I've and R&D for for We that space now, of about years. three different technologies to had And just all long-range core those AbCellera’s in unlock a this to platforms have put place been working years intensive effort many in space. leverage

those still So of been those of the done, And doing in different. these once the that targets development would technology many considered be we are development still course, break work some open. of not the are industry. has for hardest of timelines But to

of to a an indication the as worked but that the from That development. molecule our With a further belief respect target. towards formidable overcome Regeneron they GPCR with that now ultimately that's for we is IND. IND helped candidate productively studies, to Regeneron and collaboration, on mentioned, is the in we've hurdle them And finding not enabling molecule Regeneron are and yet moving towards those studies ready

Operator

The of Souda of comes from the SVB. next Puneet question line

Unidentified Analyst

question have you My you for pipeline. on is question. early Michael about taking Thank for Hi, Puneet. first my the

similar the program was about seeing if on by timeline question Then impact been if new all or pandemic on a the of or if contract, Biopharma. of for for if wondering all about COVID at mab programs Thank to you're development the hearing you in pipeline? sort new So I little we've COVID timeline. bebtelovimab am would caution I bit have capital the do that fact kind quick that's bebtelovimab that spending increased similar at any the extent state or Mab. reflected think wondering an and to new be starts your the you. the affects this One

Carl Hansen

Carl. is this Michael,

answering identified the bebtelovimab your molecule or as by first and start I'll generation maybe generation lead for third that new COVID-XX. we've So question next on a

applied solutions up as have with platform So for to COVID-XX. we know, three times, our you now come

with discovered the done course, The therapeutic. would Lilly, foreseeable with and expect development speed a speed developed, the the was the potency to are on case, done with was, of I we've situation bebtelovimab antibody next through future. breadth was we potency. clinic, Eli would or record to past now development. and and path timeline finding focused that COVID-XX cover tremendous we that regulatory in That and is for Eli that where we believe, developing believe, provided I clear has in then breadth in to first now was successful the And combination Lilly. in have a is in what to one bamlanivimab, similar at the still what The be in and that which a that bring clinical new we the current in this we've

And we with that I are know do is that know that that. opening of there conversations proceed. But Eli how if have solution about between FDA that the been status would Lilly don't and there. the ready I

the programs was of Now business moving question, remind and you everyone's have priority There eye some that which will deals. the from environment but starts. work the we for And But shifting that on we certainly of prioritizing our call we we and to indicated on. some development that from where do have believe last of as the program part to in QX participation element volume I were we partners we we keeping deals number macro deals the program. greater more we other that of secured would integrate, an your forward to that expected of the doing fewer year, do in I highest that is are related value

co in candidate. right as a those from that and invest through to a ownership mentioned, have For XXXX on what we in last maximize some the the house brought development the That completely value And ownership expect to of and the is on couple we which been I XX% what currently over is where programs, has of target mention of co-development an programs in us, ways And an exciting we these that email stake. be the overall with quarters. portfolio. the I option we stake one progress happening maintain will did have

four are that to with will the will of that as more total be going be timelines very work also And be seven programs development significantly And to and the partners. that of different improved. lower, now will we per development value on faster we bucket getting the effort, in we're will So and probability to clinical do our work we importantly, each apply belief total the number the expect higher. it's more program, of program expect course, of be clinical there

Operator

next Gaurav of Goparaju The Berenberg. from comes question

Gaurav Goparaju

the on Congrats quarter.

Just two for me.

announcements to similar enter are based we to as you follow preclinical that in many able the future you are answer? that entering studies. up studies, disclose announced Given how studies a program And Regeneron programs expect should then on preclinical currently preclinical on programs the

Carl Hansen

Yes. question. Great

So in And do make when not move a we a significant also we this an partner in announcement back programs in announcement that part had against case, not a XXXX. did preclinical of difficult the typically particular because moving target. we an with in progress high-profile deal announced towards because formally very program studies, make forward

exception, the until this consider molecules perhaps and would we earlier for be not a they reach will on giving basis. case-by-case I So progress on IND updates And routinely sure.

Gaurav Goparaju

Thanks. one more. And then it. Got

any regarding is on For GMP there me timeline just the updates facility? the

Andrew Booth

still that on the XXXX. the batches of up qualification our first with end and it’s previously, Yes, I'd for in batches the speaking having Gaurav, end batches the commercial terms We're say that begin and at GMP Previously, the kind on we'd indicated Andrew track you facility here. XXXX. working first hey, remember of on XXXX. for in was facility track of of

previously. on would and where roughly that we of schedule indicated So how we've so that be were

Operator

Willey Stifel. comes of from Next Stephen question

Stephen Willey

Regeneron GPCR understand the good afternoon. and GPCR via work? candidate lead that the Regeneron the the the on being platform transgenic that's Ion enhanced for Channel taking you work any for in the Thanks are questions. to using developed the done With house guys I was VelociMouse side. has, Yes, tree respect

Carl Hansen

Carl Steve. Thanks here.

engagers Regeneron the unlocking and on our space work, with GPCR of yes, took range as advantage and which R&D long Ion internal is program well T-Cell unlocking VelociMouse connected modalities, So Channels. with really intimately with efforts target new as

rats, other maximize leads tranny have transgenic developed. platform; platform. in the access we camelids, different basis, And on type We animals diversity, as sources another animal finding are species to wild other use chance including we and that also the a using of be to such order can of case-by-case

reach Of these with a course, they've the the is the finish line if many we name then of a shorter. molecule as is the for start been to for rodents, long targets, period, game human over because But final time. candidate getting out path a of of

punches don't so on pull And that. we

Stephen Willey

data call leads, but don't IND just into you've both move anticipate you've guess of talk maybe you work. of at as the EGFR on development I And I enabling identified forwards should how also to in if abstract, you about point? And to and an at know we identified the some some Okay, these maybe I you'll you candidates, in-house one variant opportunity presenting there's some, sticking CDX be them want mentioned, the believe SITC. studies that targeting, some perhaps CDX

Carl Hansen

this so the Steve, will week. SITC update Yes, later at be

I to want so steal that. don't And any thunder from

able work be we the work that's Some as would molecules. a that the being steps And I generate that further characterize on to expansion of characterization therapeutic presented to will proof-of-concept. of The EGFR be panel. of will believe optimal one and critical showing that

to So expect we do that and intend work lead to assets. do not not

that quality a order of cytokine of an to CDX OrthoMab we can Although, profile on did validate release. and a terms improved hypothesis that in lead therapeutic and I in killing, call, could the with cell combined candidates diversity surprised. mention of to better previous course, be with

initiated are tumors. some well-known that on have We focused work solid internally on targets

point that share to the at yet not are We data.

expect mature. as don't we SITC that that will but I So programs at data share sharing that those

Stephen Willey

and new the economics you or then has candidate clinical not are lastly, able say it. undisclosed if just to associated from Alzheimer's downstream the Okay, with partner that in whether

Carl Hansen

you. Thank economics. downstream have does it Yes,

Operator

of Gary from comes Nachman BMO. question Next

Gary Nachman

afternoon. Hi, guys, good

Versant programs is a also versus terms And to four are that of a to these in second to now in get good doing about? in anything to a a you further starts if had you you, those XQ run First partnerships for forward? you and we're the ago how the with or the partnerships, think XX. going years seed And to more programs you then, I'm new that Atlas hear VCs, inroads more after there room you initiative last quarter Is of curious that to of if you're making quarter, like progress any going So four announced think nice lot start you seemed And couple new of them? there? making that and for that cadence the starts any differently there. approach maybe

Andrew Booth

Yes. here. Carl. to it's the Hey, Andrew the it when VCs, take And Gary, I'll then about part. the question comes first to I'll hand off

So constitutes a with definition. the program same starts, always the we've variability program it's it's using, as a of start, There's to definition quarter-to-quarter. what be going been rigorous quite always some

important, said, work. the each Importantly, I we're of you we're more doing one previous questions more of and that differently? programs, Carl is what's in anything hey, the when doing think is in mentioned and there

in if more so we work generated, a of being kind of doing and each use starts measure more And program and them. as capacity that of is we're both value

within and efforts we can company, fewer is shouldn't capacity that growing more the because increase more year. does, for it last the value that created indication be So start of each of should it the and is programs. programs being to are less to expenditure adding in of an still nor And indication a our it discovery an less be this percentage similar on of even the in And the being compared in partnership time is as spent R&D, you program significantly. see,

we going so we've they determined the think with partners program from which probably still that past moving seen be contract, think what correct. we'll number is a about how is will to work forward. future, indication to roughly have the in under continue XXX starts the that I of what's continue to be frequency year call good will a forward a programs in of going full our So book or the way that's large whatever And going the of

headroom, early company and from I in and assist can one would and and question creation agree opportunity respond to to we model your with that lot product the exemplifies for of I'll as high with that has stages engaging business industry. of the we we perhaps And see that of think top also what our you that about pick up a strategy really an development. and AbCellera’s there VCs, profile do

just built with insight about which teams, in having That and needs capital, technical to be our those management through with engine, the it's teams have provide and companies. technology, insight. the the scientific clinic clinic build also the which we to So facilities strong not forward the and and then great with new we move can connected to to

target, And believe to through a We we have effort completing into a drug connecting better so of for the fully right partners, the with inflection effort point. couple a company that a we timelines. right much allows value by creation with better a economics put much years big or from spent process and that big over specification email last can our integrate an

announced deals. We have couple a other previously

I continued been those that see you'll and in also conversations of that groups. the I'm am various have future. We confident with And hopeful more

Gary Nachman

mentioned that's at there's high Okay, just great. is level but advancing it undisclosed just program. discovery an that's us it, unique your moved partner, discovered, of a you follow up it good know sounds for forward. And that terms efforts with a you with just and something important about the nice tell could the it's antibody I but can know I if in other like in sounds don't maybe exciting. being was it, clinic That program, Alzheimer's. squeeze that economics, I molecule one anything if downstream And on the pretty into about

about anything So you Thanks. more say it. could

Andrew Booth

into the don't details who getting the to that that Thanks the think with to think for wait that fully before the program, now that is a are validation need partner that further I want Gary. of important because identified We can until any forward, we moving adds molecules partner. platform it. I more it's medical our is. very the it the top in clinic work still mostly a of we'd haven't significant about weight announcement, And unmet is say to go open given we

Operator

Antonia from of Borovina comes question next Burton. The Bloom

Antonia Borovina

one value Hi, my commentary there. questions. adding and to how on just you're related starts first for your more you My program the taking program. Thank is per

your I X% can doing think just tick royalty you expect we is I'm now, program? can wondering, So around more average per rate, up are work we average which as that expect to

Andrew Booth

it's Andrew Hey, Yes, here. question. Antonia, great

notably, extreme where earlier in ownership those we royalty in a If X.X% the see case an programs, rates XX% stake, then time valuable as the these most option They do averaged as to of and about up as extremely of XX-K. overall, was order co-ownership that timeframe, over actually have portfolio. the mentioned the to kind how I ownership they going will the AbCellera went XX% value each in see up probably be invest start Those rate stake programs From to I you'll where to and disclose and XXXX-XXXX in royalty. course, XXXX. think do they've work, aggregate remember, the to and maintain of they're the average We we moved royalty accretive in in and Carl we programs are the more to we median forward. the think are increasing, X.X%, we years, doing that in of

the the sorts expect overall program of especially would increase. those So and cases, the in in equivalent in royalty we or value will absolutely

that exceptional molecules chosen, was proving to in of those pre steam, extreme capture retired more right value those intention resulted partnered considerably we've was to -- on Again, And in overall to those first model to owned, as the it time. very in the still at business that the well, is work And we've the economics on high development the that but in pre the point work because included we them. not more Importantly And once partner out our though in would we've programs the case, done of out expect there, more because risk own our portfolio. that partnering put to of accretive number and the in be where wholly there's we overall, the success those royalty, it to the starts And Carl COVID be on. are it's alluded a program the the molecule. how sort we've X.X% program, situation course while

Antonia Borovina

just then the deal. to moving and Okay, Regeneron

different the on believe deal preclinical targets, So development. was is and to advancing one focused I four

selected still forward? targets? So was it there one just is three a was to to just advance that target other possibility the Or wondering, go this

Andrew Booth

was Yes, and just the with that are first programs has forward, live. one targets, this is so moved original deal the four other the still

we're So those also forward. hopeful move will that

Antonia Borovina

related seen GPCR we've that, house. some pharmas in to then, acquiring technologies drug move And other big discovery to Okay.

on the to of what could just the to primarily was platform? Regeneron? was you that deal demonstrate were didn't key candidates point for Was you could maybe that have? executing the -- this speed couldn't, focused selling it able identify So Or they speak with it you drug

Andrew Booth

in the target class value a there's tends More a well of between be have Channels in because with conventional and and that these would our and was capabilities partner and are realized synergy and groups ways I with tried what very task. with typically working theirs resulted is we experienced proposition GPCRs that most to that and or up the put enabled the the generally, is to similar the And on have we of they and partnership, firms. engagement multi classes difficult one there the target to where single speculate a multiplicity that well very Regeneron have wouldn't and places in happy large of technologies have I obviously another existing the it not which see It's Regeneron. had with. deal Ion the in sophisticated be enabled one we're targets

there is that or are clinical development towards high often first so in potentially the take value. proposition unmet it and indications. medical a unstuck completely program stuck, help a very in get class, target is what to move it need value And

Operator

Thank you. time. no at There additional are currently questions registered this

So remarks. I'll closing for pass conference the to over Carl Hansen back

Carl Hansen

Thank you We and forward joining wish you providing today. good call updates the to a look everyone for further night.

Operator

call. That for Thank your concludes the conference you participation.

You line. may now your disconnect

AbCellera Biologics (ABCL) 8 Nov 222022 Q3 Earnings call transcript