AMD Invests $20 Million in Absci to Accelerate AI-Driven Drug Discovery

AMD invests $20M in AI-powered drug discovery company Absci - SiliconANGLE

Advanced Micro Devices Inc. today announced that it has invested $20 million in Absci Corp., a company using artificial intelligence to develop new medicines. AMD will also partner with the company to support its research efforts. Absci launched in 2011 to develop proteins with therapeutic applications. In 2018, the company debuted a system called SoluPro that uses bacteria cells to manufacture such proteins. Absci floated on the Nasdaq three years later via an initial public offering that raised about $200 million. A few months before its stock market debut, Absci acquired an AI startup called Denovium. The latter company developed a neural network that can automate some of the repetitive research work involved in studying proteins. It trained the model on a dataset of more than 100 million proteins. Today, Absci operates a 77,000-square-foot lab where it generates training data for a collection of clinical AI models. Those models are designed to help medical researchers more quickly identify epitopes. An epitope is a part of a disease-causing molecule that can potentially be targeted as part of the treatment process. After identifying an epitope, researchers search for a protein that can attach to it and treat the disease. Such proteins form the basis of new drugs. According to Absci, its AI can generate millions of protein designs and automatically filter them based on factors such as whether it's practical to turn them into medicines. According to the Wall Street Journal, the company currently uses more than 470 AI chips to support its research. Most of chips are Nvidia Corp. graphics cards. As part of the partnership announced today, Absci will shift some workloads to AMD's Instinct line of AI processors. The newest chip in the series, the Instinct MI325X, debuted last June. It promises to provide 30% higher inference performance than the H100 graphics card that Nvidia released in 2022. This year, AMD plans to launch a more capable chip called the MI355X that will provide 80% higher performance than the MI325X. Absci will also use the chipmaker's ROCm software, which helps developers run AI models on its processors. The software eases tasks such as distributing a language model across multiple chips to speed up calculations. It also includes a collection of prepackaged scientific applications spanning fields such as chemistry and physics. "AMD high-performance compute will enable us to further the development of next-generation antibody therapeutics," said Absci founder and Chief Executive Officer Sean McClain. Absci will use AMD's $20 million investment to enhance its AI models. In parallel, the companies will collaborate to develop new hardware and software optimized for the healthcare sector. The effort will place particular emphasis on developing technologies that can advance drug discovery.

AMD invests $20 million in AI drug discovery firm Absci By Investing.com

VANCOUVER, Wash. - Absci Corporation (NASDAQ: ABSI), a generative AI drug creation company with a market capitalization of $353 million, announced a strategic collaboration with Advanced Micro Devices, Inc. (NASDAQ:AMD) involving a $20 million equity investment aimed at enhancing AI-powered drug discovery. This partnership will utilize AMD Instinct accelerators and ROCm software to power Absci's AI models for developing new antibody therapeutics. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 5.63, indicating robust short-term financial health. The investment, structured as a private investment in public equity (PIPE), reflects the increasing demand for AI applications in the biopharma sector. The timing appears favorable, as InvestingPro data shows ABSI's stock has gained over 17% in the past week, though investors should note the stock's historically high volatility. Absci's mission to expedite the creation of biologics for patients is expected to benefit from AMD's high-performance computing solutions. According to Absci's Founder & CEO, Sean McClain, the collaboration with AMD will push the envelope in drug discovery by leveraging efficient and innovative AI solutions. AMD's technology is set to support Absci's development of advanced antibody therapeutics. The partnership will be discussed in detail by McClain at the 43rd Annual J.P. Morgan Healthcare Conference on a Wednesday, and the capabilities of AMD's Instinct accelerators will be showcased in the context of Absci's IgDesign1 model, an in vitro validated inverse folding model for antibody design. AMD's Executive Vice President and Chief Technology Officer, Mark Papermaster, expressed pride in partnering with Absci, highlighting that their AI drug discovery work aligns with AMD's high-performance computing and software designed for demanding AI workloads. Absci's Integrated Drug Creation™ platform aims to accelerate the time to clinic and increase the probability of success in drug development by optimizing multiple drug characteristics. The company's infrastructure allows for screening billions of cells weekly, with the potential to move from AI-designed candidates to wet lab-validated candidates in as little as six weeks. The information in this article is based on a press release statement. While the company currently operates at a negative EBITDA of -$89.71 million, InvestingPro analysis reveals 10 additional investment insights and key metrics that could be crucial for investors considering this AI-focused biotech company. Subscribers can access detailed financial health scores and growth projections to make more informed investment decisions. In other recent news, Absci Corp has been making significant progress in its research and development efforts, as well as in its financial stability. H.C. Wainwright has maintained a Buy rating on Absci shares, following the company's recent R&D Day where it showcased advancements in its clinical candidate portfolio. The firm highlighted Absci's progress, particularly within the pipeline, over recent months. Absci's ABS-101 and ABS-201 treatments have exhibited potential in preclinical data for inflammatory bowel diseases and androgenic alopecia respectively. The company has also expanded its pipeline to include two novel immuno-oncology candidates. H.C. Wainwright's confidence in Absci is rooted in the company's unique AI-based antibody design, strategic plan for securing clinical data, and the strong support from key opinion leaders and clinical investigators. Jones Trading also initiated coverage on Absci with a Buy rating, emphasizing the company's unique AI-driven platform and its success in securing multiple pharmaceutical deals. Absci's technology, which is specialized in designing antibodies, is a key differentiator in the market. The company's integrated approach, combining high throughput wet lab screening with its AI platform, has allowed it to efficiently develop a range of antibodies, further strengthening its position. Absci has also made strides in its collaboration with AstraZeneca (NASDAQ:AZN), delivering AI-designed antibody sequences targeting oncology. This development is a crucial step in their joint venture to expedite the discovery of new cancer treatments. Analysts from Guggenheim, TD Cowen, and Morgan Stanley (NYSE:MS) have also shown confidence in Absci's growth trajectory and its ability to harness AI for significant advancements in biologics.

AMD Invests in Absci to Accelerate AI-Driven Drug Discovery

Absci and AMD will present AI solutions at the 43rd Annual J P Morgan Healthcare Conference. Generative AI drug creation company Absci Corporation announced on Wednesday a strategic collaboration with AMD to enhance its AI-driven drug discovery capabilities. Through this partnership, Absci will deploy AMD's Instinct accelerators and ROCm software to power critical AI drug discovery workloads, including de novo antibody design models. As part of the partnership, AMD is making a USD 20 million investment in Absci via a private investment in public equity (PIPE), highlighting the "growing demand for AI in drug discovery," Absci said. Also Read: Accenture Invests in 1910 Genetics to Accelerate AI-Driven Drug Discovery "The strategic partnership supports Absci's mission of creating better biologics for patients, faster by providing optimized AI solutions for complex biological modeling that offer exceptional performance, reduced infrastructure costs, and faster innovation cycles," the AI drug creation company said on January 8, 2025. The company noted that this partnership is expected to further expand biopharma adoption of AMD Instinct accelerators and ROCm software. "This partnership with AMD gives us the unique advantage of working closely with a partner that is deeply committed to supporting our needs while providing the most efficient, innovative AI solutions available," said Sean McClain, Founder and CEO of Absci. "AMD high-performance compute will enable us to further the development of next-generation antibody therapeutics, and we are excited about the potential that this partnership holds to accelerate the future of drug discovery." Also Read: AI Can Transform Healthcare: Tata Sons Chairman "We are proud to partner with Absci, a company at the forefront of AI-driven drug discovery, to help further accelerate breakthroughs in therapeutics and transform how biologic drugs are developed," said Mark Papermaster, Executive Vice President and Chief Technology Officer of AMD. "Absci's groundbreaking work in AI drug discovery is a perfect fit for AMD high-performance computing solutions and software, designed for the most demanding AI workloads," Papermaster added. According to the official release, at the 43rd Annual J P Morgan Healthcare Conference on Wednesday, January 15th, "Absci and AMD will showcase the exceptional performance of AMD's Instinct accelerators in addressing complex biological applications, including Absci's proprietary IgDesign1 model, the first in vitro validated inverse folding model for antibody design."

Absci Corporation and Amd Announce Collaboration and Strategic Investment to Accelerate the Future of Ai Drug Discovery

Absci Corporation announced a strategic collaboration with AMD to deploy AMD Instinct?? accelerators and ROCm?? software to power critical AI drug discovery workloads, including Absci's advanced de novo antibody design models. AMD will also make a $20 million investment in Absci, structured as a private investment in public equity (PIPE), underscoring the growing demand for innovative AI applications in drug discovery. The strategic partnership supports Absci's mission of creating better biologics for patients, faster by providing optimized AI solutions for complex biological modeling that offer exceptional performance, reduced infrastructure costs, and faster innovation cycles. Absci Founder & CEO Sean McClain will discuss the strategic partnership at the 43rd Annual J.P.Morgan Healthcare Conference on Wednesday January 15th at 4:30pm PT. Absci and AMD will showcase the exceptional performance of AMD?s Instinct accelerators in addressing complex biological applications, including Absci?s proprietary IgDesign1 model, the first in vitro validated inverse folding model for antibody design.

AMD to invest $20m in Absci, powering its AI drug discovery

The role of AI in drug discovery is expected to reach a $7.9bn valuation by 2030. The US-based generative AI drug creation company Absci Corporation has announced a collaboration with semiconductor giant Advanced Micro Devices (AMD), employing AMD's technology to power Absci's critical AI drug discovery workload. As part of the collaboration, AMD will make a $20m investment into Absci and deploy its Instinct accelerator and Rocm software to support's Absci's technology, including in the company's de novo antibody design models - or models that create new antibodies. AI has acquired a vital role in the drug discovery process, transforming the pharmaceutical industry by speeding up the process of genetic data analysis. According to Fortune Business Insights, the global AI drug discovery market was valued at $3.5bn in 2023 and is expected to grow to nearly $8bn by 2030. "At Absci, we are always looking for ways to push the boundaries of what's possible in drug discovery," said Sean McClain, the founder and CEO of Absci. "This partnership with AMD gives us the unique advantage of working closely with a partner that is deeply committed to supporting our needs while providing the most efficient, innovative AI solutions available. "AMD high-performance compute will enable us to further the development of next-generation antibody therapeutics, and we are excited about the potential that this partnership holds to accelerate the future of drug discovery." While Mark Papermaster, the executive vice president and chief technology officer of AMD said: "We are proud to partner with Absci, a company at the forefront of AI-driven drug discovery, to help further accelerate breakthroughs in therapeutics and transform how biologic drugs are developed. Earlier last year, AMD announced plans to acquire the New Jersey-based ZT Systems for $4.9bn as it ramped up efforts to cement its position in the AI race. The company expects to complete the acquisition by mid 2025. While just months earlier, the processing units manufacturer acquired Silo AI in a $665m deal. Silo, which claims to be the largest private AI lab in Europe, provides AI-driven solutions to help customers integrate emerging technology into their products. Don't miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic's digest of need-to-know sci-tech news.

AMD invests $20 million in Absci to expand AI chip sales in healthcare sector- WSJ By Investing.com

Investing.com -- Advanced Micro Devices (NASDAQ:AMD) is set to invest $20 million in Absci, a Washington-based drug-discovery firm, aiming to increase the use of its artificial intelligence (AI) chips in the healthcare sector, according to Wall Street Journal. The investment is structured as a private investment in public equity, which includes an equity stake in Absci, though the exact amount of the stake remains undisclosed by AMD. The Santa Clara, California-based AMD hopes that this investment and partnership will aid in reducing hardware costs and optimizing AI solutions for Absci. This marks AMD's inaugural venture into the life sciences sector with its AI chips, a market also pursued by its competitor, Nvidia (NASDAQ:NVDA). Back in 2023, Nvidia had invested $50 million to enhance Recursion Pharmaceuticals' AI-based drug-discovery initiatives, also supplying the underlying hardware for the project. AMD's chief technology officer, Mark Papermaster, conveyed that their association with Absci is the first in a series of efforts to offer its graphics processing units (GPUs) to specific sectors. For AMD, investing in companies such as Absci is part of its strategy to advance in the GPU market, currently dominated by Nvidia. In December, AMD had participated in a $333 million financing round for cloud company Vultr, with the goal of becoming the preferred AI hardware provider. As a result of AMD's investment, Absci will enhance its usage of AMD's GPUs, according to the company's founder and CEO, Sean McClain. Currently, Absci uses over 470 AI chips, the majority of which are Nvidia's GPUs. The company plans to begin transitioning some of its AI drug discovery workloads to AMD's GPUs. McClain explained that AI-based drug discovery requires significant computational power, a challenge that Absci quickly encountered. This is partly why AMD's partnership and investment were appealing, as they offered a chance to reduce Absci's costs of inference, or the costs of utilizing AI models. Absci is also collaborating with AMD to create hardware and software that will better cater to the healthcare sector and AI-based drug discovery. The company, which has approximately 160 employees and has raised a total of about $567 million, intends to use the new funding to continue developing its AI models and to progress its internal drug development efforts. It anticipates having results from a clinical trial for a drug targeting inflammatory bowel disease in the second half of the year.

Absci Stock Jumps As AMD Invests $20M To Boost AI Drug Discovery - Advanced Micro Devices (NASDAQ:AMD), Absci (NASDAQ:ABSI)

AMD collaborates with Absci for AI drug discovery advancements. AI drug creation company Absci Corporation ABSI shares are trading higher in premarket on Wednesday after the company entered into a strategic collaboration with Advanced Micro Devices Inc AMD to enhance its AI drug discovery capabilities. The partnership will leverage AMD Instinct accelerators and ROCm software to support Absci's advanced de novo antibody design models. The deal also includes a $20 million private investment in public equity (PIPE) by AMD, underscoring the rising demand for AI applications in the pharmaceutical industry. Absci aims to transform biologics development by utilizing optimized AI solutions that improve biological modeling. The partnership is expected to reduce infrastructure costs while accelerating innovation cycles. Also Read: Uber And NVIDIA Partner On AI Technology For Autonomous Cars AMD's support will enable Absci to enhance its proprietary antibody design model, IgDesign1, which is the first in vitro validated inverse folding model for antibody design. Sean McClain, Absci's Founder and CEO, said, "AMD high-performance compute will enable us to further the development of next-generation antibody therapeutics, and we are excited about the potential that this partnership holds to accelerate the future of drug discovery." Price Action: ABSI shares are trading higher by 44.3% at $4.46 in premarket at the last check Wednesday. Read Next: AMD and Nvidia Overtake Intel in Key Markets, Challenging Its Leadership Photo via Shutterstock. Market News and Data brought to you by Benzinga APIs

Absci stock soars on AMD partnership and investment By Investing.com

Investing.com -- Shares of Absci Corporation (NASDAQ: ABSI) soared 50% following the announcement of a strategic collaboration and a $20 million investment from AMD (NASDAQ:AMD). The partnership aims to enhance Absci's AI-driven drug discovery capabilities using AMD's Instinct accelerators and ROCm software. The collaboration is poised to propel Absci's mission to expedite the development of superior biologics for patients. By leveraging AMD's advanced computing solutions, Absci expects to optimize its AI models for biological modeling, which could lead to significant reductions in infrastructure costs and faster innovation cycles. Absci's Founder & CEO, Sean McClain, highlighted the importance of the partnership during his presentation at the 43rd Annual J.P. Morgan Healthcare Conference. He emphasized that working with AMD will enable Absci to further advance its next-generation antibody therapeutics development, expressing enthusiasm about the potential to accelerate drug discovery. AMD's Executive Vice President and Chief Technology Officer, Mark Papermaster, also expressed pride in partnering with Absci, recognizing the company's pioneering role in AI-driven drug discovery. He noted that Absci's work aligns perfectly with AMD's high-performance computing solutions, which are tailored for the most challenging AI workloads. The strategic partnership and investment underscore the growing demand for innovative AI applications in the field of drug discovery. With AMD's support, Absci is positioned to showcase the exceptional performance of AMD's Instinct accelerators in complex biological applications, including Absci's proprietary IgDesign1 model, an in vitro validated inverse folding model for antibody design. Investors have responded favorably to the news, leading to a significant uptick in Absci's stock price. The collaboration is expected to enhance Absci's capabilities and potentially lead to groundbreaking developments in the creation of biologic drugs.