Ability Biologics raised $18M in a seed funding led by Amplitude Ventures

Jun 18, 2024•over 1 year ago

Amount Raised

$18 Million

Round Type

seed

MontrealBiotechnology

Investors

Alexandria Venture InvestmentsTheodorusCharles River LaboratoriesInvestissement QuébecFtqAmplitude Ventures

Description

Ability Biologics, a Montreal, Canada-based cell targeting company, closed a seed funding round of US $18M. The funding was led by Amplitude Ventures with participation from FTQ, Investissement Québec, Charles River Laboratories, Theodorus, and Alexandria Venture Investments. The company plans to use the funds to expand operations and its R&D sector.

Company Information

Company

Ability Biologics

Location

Montreal, Quebec, Canada

About

Ability Biotherapeutics is the next-generation biotherapeutics company developing logic-gated antibodies with exceptional contextual selectivity and stability, driving safer, more effective immunotherapies for cancer and autoimmune diseases. Its proprietary platform, AbiLeap™, uses generative AI powered by one of the largest and exclusively held, therapeutically relevant human antibody databases, providing distinct insights for sequence space exploration. Combining AI with in vitro display and screening technologies, AbiLeap™ generates fully human antibodies that are conditionally activated and multi-specific, directing therapeutic targeting to specific cells and disease sites. This approach enables solutions for indications with high unmet clinical needs by reducing toxicity and significantly broadening the therapeutic window, maximizing treatment benefits.

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