Absci Shares Soar Following AMD Partnership and Investment

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Absci Shares Soar Following AMD Partnership and Investment

Investing.com -- Absci Corporation (NASDAQ: ABSI) shares rose by 50% following the announcement of a strategic collaboration with AMD (NASDAQ:AMD) and a $20 million investment. The partnership aims to enhance Absci's artificial intelligence-driven drug discovery capabilities by utilizing AMD's Instinct accelerators and ROCm software.

This collaboration is set to advance Absci’s mission of accelerating the development of superior biologics for patients. By leveraging AMD's advanced computing solutions, Absci expects to optimize AI models for biological modeling, significantly reducing infrastructure costs and enabling faster innovation cycles.

Sean McClain, Founder and CEO of Absci, emphasized the importance of the partnership during a presentation at the 43rd Annual J.P. Morgan Healthcare Conference. He expressed excitement about the potential to further enhance Absci's capabilities in developing next-generation antibody therapeutics and accelerating drug discovery.

Mark Papermaster, Executive Vice President and Chief Technology Officer of AMD, also expressed pride in the partnership with Absci, acknowledging the company's pioneering role in AI-driven drug discovery. He stated that Absci's work aligns perfectly with AMD’s high-performance computing solutions, designed specifically for the most challenging AI workloads.

The strategic partnership and investment highlight the growing demand for innovative AI applications in the field of drug discovery. With AMD’s support, Absci is preparing to demonstrate the exceptional performance of AMD's Instinct accelerators in complex biological applications, including its proprietary IgDesign1 model. IgDesign1 is an in vitro validated inverse folding model for antibody design.

Investors responded positively to the news, resulting in a significant increase in Absci’s stock price. The collaboration is expected to enhance Absci's capabilities and potentially lead to groundbreaking advancements in the creation of biologic drugs.