Absci Corp at HC Wainwright Investment Conference - New York Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : Alex, for starters, could you highlight for us at a high level how you see generative AI as a tool to help in drug creation?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : So for folks who are not quite familiar with Absci, could you highlight the vision by which the company was founded, and what -- how has the company evolved since it got started?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : So I understand generative AI is a buzzword, and we all use it now. But how do you differentiate Absci from companies that have been using AI for drug discovery?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : So talking about optimization and AI models, so your AI model is as strong as what the data feeds itself on. So you certainly have the wet lab ability which can provide enough information or enough data for the AI models. But do you think your AI model is as strong as it can be, or is there more optimization needed in those models?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : Very good. So as we started this conversation saying that you made a strategic change in your thinking in terms of identifying -- not only just identifying drug creation, but also generating your own internal pipeline. So what motivated the management to make this decision of developing your own pipeline versus managing projects that have been brought by your partners?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : So talking about partners, you certainly have partners that people recognize such as Merck. So do you -- when you go out and seek partnerships, what are the criteria by which you try to do this? Is it economics? Is it how you can prove and validate your current technology? What motivates you to do this?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : So at the end of '22, you had about 13 active programs. And I believe for this year, your guidance was to add another 10 at least, I think. So does that stand true today, especially after making these changes on the strategy side? And also, going forward, say in '24 and '25, how do you see bringing in active programs, especially when you're running your own internal drug development or drug creation programs? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : So one last question on the partnered programs. You have a relationship with SFJ Pharmaceuticals where the molecule is actually ready to be filed, the BLA for that molecule to be filed. So what's the status there? And if it gets through, what sort of economics should we think about?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : Okay. On the internal pipeline growth that you're envisioning now, what sort of commentary can you give us on areas, therapeutic indications, any of that -- any of those details will be helpful for investors like?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : So having VP of Finance next to me, I have to ask you a couple of finance questions. So you also recently brought in a CFO. So in terms of operational efficiencies, what are you looking at? And I know you have a new guidance of spending $80 million for this year. But going forward, how should we think about operational efficiencies?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : So in terms of catalysts that investors can look out for, can you name a few of them from here to, say, at least next 12 months?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : So just as a final question, and it's a little bit more philosophical, as we see AI getting integrated more and more into our regular life, how do you see this being evolving from here, or maybe over the next three to five years, especially in the drug development, drug creation area?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC - Analyst : Thanks, Alex. Thanks for being here.