AbCellera Biologics Inc. (NASDAQ:ABCL) Q3 2023 Results Conference Call November 2, 2023 5:00 PM ET

Company Participants

Tryn Stimart - Chief Legal & Compliance Officer

Carl Hansen - President, CEO

Andrew Booth - CFO

Conference Call Participants

Allison Bratzel - Piper Sandler

Robyn Karnauskas - Truist

Andrea Tan - Goldman Sachs

Stephen Willey - Stifel

Puneet Souda - Leerink Partners

Steven Mah - Cowen

Malcolm Hoffman - BMO

Operator

Good afternoon, and welcome to AbCellera's Third Quarter 2023 Business Update Conference Call. My name is Kate, and I will facilitate the audio portion of today's interactive broadcast. [Operator Instructions]

At this time, I would like to turn the call over to Tryn Stimart, AbCellera's Chief Legal and Compliance Officer. You may proceed.

Tryn Stimart

Thank you. Good afternoon, and welcome to AbCellera's Third Quarter 2023 Business Update. We are pleased to have you with us today as we discuss the results announced in our press release issued after the market closed today, which you can find on our Investor Relations website.

With me on the call today are Dr. Carl Hansen, AbCellera's Chief Executive Officer and President; and Andrew Booth, AbCellera's Chief Financial Officer. The webcast portion of this call contains a slide presentation that we will refer to during the call. If you are following along on the phone and wish to access the slide portion of this presentation, you may do so on the Investor Relations section of our website. For those of you who have accessed the streaming portion of the webcast, please be aware that there may be a delay and that you will not be able to post questions via the web.

This presentation may contain forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties. Please review our SEC filings for risk factors that could impact our future performance. Our presentation and SEC filings are available on our Investor Relations website. Note that all dollars referred to during our call today are U.S. dollars.

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

Carl Hansen

Thanks, Tryn. The highlight this quarter is that we are advancing assets from two AbCellera-led programs into IND-enabling studies. The first asset, ABCL575 targets Ox40 ligand and is being developed as a potential best-in-class therapy for the treatment of atopic dermatitis and other indications in autoimmunity and inflammation. We discovered ABCL575 during our collaboration with EQRx as part of the co-development program that was initiated in 2021. We took ownership of this program in September after EQRx was acquired by Revolution Medicines. ABCL575 has been designed with potency, PK and developability to enable less frequent dosing, which provides a potential for differentiation. At present, we believe ABCL575 has the potential to be one of the first assets to follow amlitelimab, which is being developed by Sanofi and which recently had a positive Phase II readout providing evidence for the potential of this new class.