The Vancouver-based biotech said TetraGenetics’s proprietary technology will help boost its capabilities to find antibodies. AbCellera paid US$12.5 million cash and may also make future payments based on various milestones, according to a filing with the U.S. Securities and Exchange Commission. (The Logic)

Talking point: TetraGenetics has created a protein-production platform that allows it to generate large quantities of transmembrane proteins that are implicated in a number of cancers and autoimmune and cardiovascular diseases. AbCellera’s technology, which searches for antibodies that its partners can develop into drugs, may work with that of TetraGenetics to “unlock the discovery of antibodies against these validated and sought-after drug targets,” the company said. It has already acquired Lineage Biosciences and Trianni, as well as the OrthoMab platform from Dualogics. The company’s strategy includes internal research and development as well as acquisitions, wrote CEO Carl Hansen in a statement. AbCellera has been growing rapidly since it was founded in 2012, with a record-breaking IPO last year and plans to build a massive campus in Vancouver.

This briefing was updated on Sept. 15, 2021 to include the financial terms of AbCellera’s deal to buy TetraGenetics.