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AbCellera is entitled to receive a specified percentage of the proceeds that Lilly receives from such sales.
“As a Canadian company, we are proud to contribute to the global fight against COVID-19 and hope our efforts will help people in Canada and around the world with this medical emergency,” said Hansen, a former UBC professor who owns 26 percent of the private business.
According to Bloomberg News, AbCellera is expected to be worth several billion dollars after its public listing.
Eli Lilly reached a deal with AbCellera last March to co-develop antibody drugs to treat and prevent COVID-19, using Abcellera’s technology that quickly identifies immune cells that can be replicated and used to attack infections .
AbCellera researchers used a blood sample from one of the United States’ first COVID-19 survivors to begin their work.
the antibody discovery platform provides lab-on-a-chip technology to help biopharmaceutical companies identify next generation drug candidates.
The Eli Lilly / AbCellera company reported reduced viral load, symptom and hospitalization rates in a trial of 800 patients.