Abound Bio
Specializes in generating antibody-based biological therapeutics to meet medical needs in the fields of cancer.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | $14.0m Valuation: $14.0m | Acquisition | |
| Total Funding | 000k | ||
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Abound Bio, a biotechnology firm headquartered in Pittsburgh, PA, specializes in the development of immunotherapies for cancer and infectious diseases. Founded in 2019 by Dimiter Dimitrov and John Mellors, the company was established to generate novel antibody-based biological therapeutics to address unmet medical needs. Initial seed funding and support for the company were provided by UPMC Enterprises, the venture capital and commercialization arm of the UPMC health system.
The company's core technology revolves around its extensive and diverse fully human antibody libraries. These libraries are designed to produce various binder formats, including VH domains, scFvs, and Fabs, which can be integrated into multiple therapeutic platforms. This capability allows Abound Bio to generate new human antibodies and engineered antibody domains for more effective therapeutic targeting. The primary application of this technology is in the creation of next-generation cancer therapies, such as CAR-T cells, bispecific antibodies, and antibody-drug conjugates.
In a significant milestone, Abound Bio was acquired by the Belgian-Dutch pharmaceutical company Galapagos NV on June 21, 2022, for $14 million. This acquisition was part of Galapagos' strategic shift to accelerate and diversify its pipeline, moving into the field of cell therapy. The integration with Galapagos aims to combine Abound Bio's antibody discovery engine with CellPoint's decentralized CAR-T manufacturing model, which was acquired by Galapagos simultaneously. The stated goal of this synergy is to bring three differentiated, next-generation CAR-T candidates into clinical trials within three years of the acquisition, aiming to shorten treatment times and broaden patient access.
Keywords: antibody therapeutics, immunotherapy, oncology, infectious diseases, CAR-T, cell therapy, human antibody libraries, biological drug discovery, cancer therapy, bispecific antibodies, antibody-drug conjugates, biopharmaceuticals, VH domains, scFvs, Fabs, drug discovery, therapeutic targeting, biotechnology, life sciences, Galapagos NV