Goodwin Guides Absci on Pricing of $100 Million Underwritten Offering

The Life Sciences team advised Absci Corporation on the pricing of an underwritten offering of 13,495,277 shares of its common stock at a price of $7.41 per share, before deducting underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $100 million. All of the shares in the offering are to be sold by Absci. Absci intends to use the net proceeds from the offering to fund the advancement of ABS-201, Absci’s AI-designed anti-PRLR antibody program across androgenetic alopecia (pattern hair loss) and endometriosis, and for working capital and other general corporate purposes. 

Absci is advancing the future of drug discovery with generative design to create better biologics for patients, faster. Their Integrated Drug Creation™ platform combines cutting-edge AI models with a synthetic biology data engine, enabling the rapid design of innovative therapeutics that address challenging therapeutic targets. Absci’s approach leverages a continuous feedback loop between advanced AI algorithms and wet lab validation. Each cycle refines our data and strengthens our models, facilitating rapid innovation and enhancing the precision of our therapeutic designs. Alongside collaborations with top pharmaceutical, biotech, tech, and academic leaders, Absci is advancing its own pipeline of AI-designed therapeutics including ABS-201™, a groundbreaking innovation in hair regrowth with the potential to redefine treatment possibilities for androgenetic alopecia, commonly known as male and female pattern hair-loss.  

The Goodwin team was led by Pia Kaur, Kelly Deas, Candace Hagey, Marianne Sarrazin, Maggie Wong, and Kingsley Taft. Elizabeth Mulkey provided FDA review.

For more information on the deal, please read the press release.