RTTNews | Sep 15, 2021 10:36AM EDT

10:36 Wednesday, September 15, 2021 (RTTNews.com) - Shares of AbCellera Biologics Inc. (ABCL) are gaining over 5% on Wednesday morning after the company announced that it entered into a multi-year, multi-target research collaboration and license agreement with Moderna to leverage its AI-powered technology to search and analyze natural immune responses to identify therapeutic antibodies against up to six targets selected by Moderna.

ABCL is currently trading at $18.53, up $0.97 or $5.52%, on the Nasdaq. The stock has traded between $14.51 and $55.22 in the year-to-date period. The stock has slipped nearly 55% in that period.

Under the terms of the agreement, Moderna will have the rights to develop and commercialize antibodies resulting from the collaboration. AbCellera will receive research payments and is eligible to receive from Moderna downstream clinical and commercial milestone payments and royalties on net sales of products.

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