Absci Expands in Europe with Launch of New Innovation Center and Additional Senior Leadership in Switzerland

VANCOUVER, Wash. and NEW YORK, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a generative AI drug creation company, today announced its expansion into the European pharmaceutical market with the opening of its Innovation Center, located in Zug, Switzerland. The Zug Innovation Center brings Absci’s AI drug creation platform to the global stage and taps into the European pharma and biotech ecosystem. Absci welcomed two senior executives to lead its drug creation team: Christine Lemke, DVM, MBA, SVP of Portfolio & Growth Strategy, and Christian Stegmann, Ph.D., SVP of Drug Creation.

“Absci’s European presence signals a new phase in expanding our strategic R&D portfolio and building Absci's own drug development pipeline,” said Andreas Busch, Absci’s Chief Innovation Officer. “The Zug Innovation Center taps into important potential partners, global talent, and AI capabilities in Europe and beyond. Drs. Lemke and Stegmann are esteemed leaders who bring tremendous experience and an impressive track record to help lead our strategic portfolio and global expansion.”

“The Zug Innovation Center brings Absci’s drug creation platform to the heart of European innovation,” said Sean McClain, founder and CEO of Absci. “Zug is a leading biotech hub for bringing drugs to market. Absci is tapping into its talent and technology ecosystem to realize our mission of bringing life-changing biologics to patients faster, through the power of generative AI and our expansion into the region.”

Dr. Lemke previously served as Head of Global Corporate Development at Ferring International Center SA. A seasoned international executive, she brings substantial corporate development and operations expertise to Absci. For global biopharmaceutical companies, including Bayer, Shire, and Takeda, Dr. Lemke delivered multiple global, transformative strategic projects. Her experience in nearly every aspect of drug discovery and development will shape Absci’s R&D strategy with an emphasis on bringing life-changing medicines to patients.

“Based on my experience in the industry, Absci presents a once-in-a-lifetime opportunity to transform the drug creation process,” said Dr. Lemke. “It’s a rare opportunity to work with a team of this caliber, and I’m optimistic we can create better biologics for patients faster.”

Dr. Stegmann is an accomplished R&D leader with a track record of building teams that successfully bring novel molecules into clinical development. Dr. Stegmann previously served as the VP of Research and Non-clinical Development at CSL Vifor, where he built a highly innovative R&D portfolio in nephrology and iron deficiency. Prior to that, he held various R&D leadership roles at Bayer, most recently as Senior Director of its Precision Cardiology Laboratory, leading a flagship collaboration with the Broad Institute of MIT and Harvard.

“Generative AI has the potential to power the next era of drug creation, and Absci is leading the way in what’s possible,” said Dr. Stegmann. “Creating meaningful innovative therapies for patients is a challenging and demanding endeavor with many components that have to mesh perfectly. Using Absci’s unique capabilities in AI, I look forward to making this endeavor more efficient and successful to improve patients’ lives.”

About Absci
Absci is a generative AI drug creation company that combines AI with scalable wet lab technologies to create better biologics for patients, faster. Absci’s Integrated Drug Creation™ platform unlocks the potential to shorten preclinical development timelines and increase the probability of success by simultaneously optimizing multiple drug characteristics important to both development and therapeutic benefit. With the data to train, the AI to create, and the wet lab to validate, Absci can screen billions of cells per week, allowing it to go from AI-designed antibodies to wet lab-validated candidates in as little as six weeks. Absci’s vision is to deliver breakthrough therapeutics at the click of a button, for everyone. Absci’s headquarters is in Vancouver, WA, its AI Research Lab is in New York City, and its Innovation Center is in Zug, Switzerland, operated through its wholly-owned subsidiary, Absci GmbH. Learn more at www.absci.com and follow Absci on LinkedIn (@absci), Twitter (@Abscibio), and YouTube.

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Absci Forward-Looking Statements

Certain statements in this press release that are not historical facts are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements containing the words “will,” “pursues,” “anticipates,” “plans,” “believes,” “forecast,” “estimates,” “extends,” “expects,” and “intends,” or similar expressions. We intend these forward-looking statements, including statements regarding technology development efforts and the application of those efforts, including acceleration of drug development timelines, advancements toward in silico drug design, drug discovery and development activities, internal pipeline development efforts, the effective incorporation of our technology in drug design, research and technology development collaboration efforts, and corporate initiatives, to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and we make this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. We can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved, and furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, risks and uncertainties relating to our ability to effectively collaborate on research, drug discovery and development activities with our partners or potential partners; along with those risks set forth in our most recent periodic report filed with the U.S. Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

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