Why Absci Shares Are Soaring Today

Absci Corp ABSI is trading higher Friday after the company announced a research collaboration with Merck & Co Inc MRK.

The collaboration will utilize Absci’s AI-powered Integrated Drug Creation Platform. The company will deploy its Bionic Protein non-standard amino acid technology to produce enzymes tailored to Merck’s biomanufacturing applications. Absci will receive an upfront payment, as well as other milestone payments.

Under the collaboration, Merck has the option to nominate up to three targets and enter into a drug discovery collaboration agreement. Absci would then be eligible to receive up to $610 million in upfront fees and be eligible for milestone payments on all three targets.

"We are very pleased to establish this collaboration with Merck and to be working with its world class research organization to generate novel enzymes," said Sean McClain, founder and CEO of Absci. "We look forward to applying our AI-driven platform to create new biologic candidates with the potential to meaningfully improve the lives of patients."

Absci is an AI-powered synthetic biology company focused on unlocking the potential of proteins as the next generation of therapeutics.

See Also: Why GameStop Shares Are Ripping Higher Today

ABSI Price Action: Absci has traded as low as $6.12 and as high as $31.53 over a 52-week period.

The stock was up 55.4% at $9.52 at publication time.

Photo: kkolosov from Pixabay.