partneringONE Case Study: AbCellera
Maximizing Efficiency and Strategic Alignment in Biotech Partnering
In this second instalment of our partnering case study series, we delve into the strategies and experiences of AbCellera, a leader in therapeutic antibody discovery and development, as the company navigates the intricate world of biopharma business development.
AbCellera has worked with more than 40 partners and started more than 100 antibody discovery programs since its inception in 2012. AbCellera’s goal is to create and deliver innovative antibody medicines that profoundly improve the lives of patients in need – so finding the right partners with complementary experience is paramount.
With over a decade of experience using partneringONE, AbCellera has honed its approach to efficiently identify and engage with potential partners, ultimately driving successful collaborations. We spoke with Michael Bayewitch, PhD, VP for Out-Licensing at AbCellera, to gather insights on how to make the most of partnering opportunities.
The Importance of Strategic Alignment
AbCellera’s partnering strategy is deeply rooted in the company’s overarching corporate objectives. Each partnering event is an opportunity to execute on these objectives, whether it’s expanding the company’s autoimmune disease pipeline, or advancing its T-cell engager, GPCRs and Ion Channel programs.
The key is to start with a clear understanding of your corporate strategy and goals. This means identifying partners whose strategic interests align closely with your own. And in AbCellera’s case, it is also important that a partner brings complementary expertise or technology. One way to identify partners is to use partneringONE’s search functionality.
Michael advises spending ample time on the search page and thoroughly reviewing the profiles of potential partners. It significantly increases the probability of securing meaningful meetings and ultimately, closing deals.
Efficiency Through Technology
AbCellera values the efficiency that partneringONE brings to the table.
The ability to set up 30-40 meetings over a three-day event is something that would take a significantly longer time to arrange through traditional means. This efficiency allows the company to focus on high-value interactions that have the potential to lead to successful partnerships.
For newcomers to partneringONE, Michael offers some practical advice: make sure your company’s profile and asset details are thoroughly filled out. This not only helps you be noticed by potential partners, but also ensures that the meetings you do secure are more likely to be productive.
The Art of the Discussion
While every discussion does not need to be 100% tailored, customizing what you can offer to the needs of the prospective partner will align you around a common goal and enable a more productive meeting.
Adding a personal touch can make a difference. AbCellera’s pitching strategy revolves around clearly communicating the value of the company’s capabilities and assets, such as its T-cell engager platform or its antibody drug candidate ABCL575.
The Art of the Follow Up
The partnering process doesn’t end when the event does. Michael explains it’s crucial to maintain the momentum built during the event. AbCellera gives potential partners around a week to digest what was shared during meetings before following up.
This follow-up is not just a check in: it’s about moving the conversation forward, whether it’s advancing discussions to a confidential disclosure agreement (CDA) or progressing towards a term sheet.
One of the challenges in partnering is maintaining the pace of the process without overly pressuring the partner. The key is to be engaged to a level that moves the process forward that is comfortable for everyone, that builds a strong relationship between the parties, and fulfils the strategic needs of everyone involved.
Stay Focused
AbCellera’s experience highlights the importance of strategic alignment, efficient use of technology, and the art of the follow-up.
This approach offers valuable lessons for both newcomers and veterans in the industry.
By staying focused on strategic goals, leveraging technology for efficiency, and maintaining a steady pace throughout the process, biotech companies can increase their chances of securing valuable partnerships that drive innovation and growth.
More about AbCellera
AbCellera discovers and develops antibody medicines for indications across therapeutic areas including cancer, metabolic and endocrine conditions, and autoimmune disorders. It partners strategically with industry leaders unlocking target classes and new modalities. AbCellera also partners with innovative biotechs, building value together through collaborations to find clinic- ready antibodies.
AbCellera’s platform has been proven across more than 100 programs. To date, 14 molecules have advanced to the clinic, and AbCellera has developed an early pipeline of potentially first-in-class and best-in-class assets that could reach INDs as early as 2025.
For more information on AbCellera check out the website and LinkedIn.
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