The Vancouver-based biotech company said Thiel, one of Silicon Valley’s highest-profile investors, will vacate his seat for personal reasons as of March 7 after serving since November 2020. (The Logic)

Talking point: Thiel, an AbCellera investor, said in a statement that the company “continues to expand the frontier of biotech, a nefariously difficult and vital yield.” It has struggled recently after riding a wave of pandemic-fuelled revenue growth thanks to its two co-developed COVID-19 antibody therapies. The company reported a US$146.4-million net loss for 2023, seeing revenue plunge from US$485 million in 2022 to US$38 million. It laid off 10 per cent of staff in a reorganization late last year, but is still forging ahead with a new corporate headquarters and a manufacturing facility in Vancouver.