Absci is a clinical-stage, AI-native biopharmaceutical company that uses generative AI to design antibody-based drugs, then advances those drugs through clinical trials. The company operates through two activities: developing its own internal drug pipeline and partnering with pharma and biotech companies to apply its AI platform to their drug discovery programs. Absci's core technology is its Integrated Drug Creation platform, which combines a proprietary generative AI model (Origin-1) for designing monoclonal antibodies, a continuous lab-validation feedback loop, and multi-parametric lead optimization. Absci claims the platform can take a program from discovery to IND in roughly 2 years at ~$15M per program, compared to an industry average of 4–6 years and over $50M. The lead internal asset is ABS-201, an anti-PRLR antibody entering Phase 1/2a trials for androgenetic alopecia, with a Phase 2 endometriosis trial planned for late 2026. Absci also has an anti-TL1A antibody (ABS-101) that completed Phase 1 and is being out-licensed, plus two preclinical programs targeting HER2 and an undisclosed immuno-oncology target. On the partnership side, Absci charges upfront fees, research funding, and milestones and royalties to partners including Merck, AstraZeneca, and Almirall. Partnership revenue is currently minimal and lumpy, so Absci operates at a cash burn and relies on its balance sheet, which management says funds operations into 2028.