AGC, JSR Life Sciences and Merck & Co all scored exits as the synthetic biology technology developer floated on Nasdaq, whose valuation reportedly stands at nearly $2bn.

AbSci, a US-based synthetic drug development platform backed by glassmaker AGC and pharmaceutical groups JSR Life Sciences and Merck & Co, has floated in a $200m initial public offering.

The offering entailed 12.5 million shares priced at $16 each on the Nasdaq Global Select Market. They closed at $21.59 on the first day of trading on Thursday to give the company a market capitalisation of almost $2bn.

Founded in 2011, AbSci has built an artificial intelligence-equipped drug discovery platform intended…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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