The Vancouver-based biotech firm’s co-founder Carl Hansen announced the hiring spree and the company’s plans to expand its lab operations to one million square feet. (The Globe and Mail)

Talking point: “We’re building a centralized platform people can access from anywhere in the world, but it means infrastructure, facilities, equipment and very significant growth in full time employees,” said Hansen. “The lion’s share of that will happen in Vancouver.” The company closed the largest initial public offering for a Canadian biotech in December 2020, raising gross proceeds of about US$555.5 million. The company’s shares debuted on the Nasdaq at US$20 and reached an intraday high of US$71.91, since moving to trade in the high US$30s and low US$40s. Hansen said, “The business model is the thing investors got so excited [about].” AbCellera does not make its own drugs, but uses its technology to isolate and identify antibodies that can be used to fight infections. It partners with drug developers.