The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $100 million. All of the shares in the offering are to be sold by Absci.

Absci intends to use the net proceeds from the offering to fund the advancement of ABS-201, Absci’s AI-designed anti-PRLR antibody program across androgenetic alopecia (pattern hair loss) and endometriosis, and for working capital and other general corporate purposes.