AbCellera Biologics Inc.

And welcome to Absolera's third quarter 2022 business update conference call. My name is Donyell and I will facilitate the audio portion of today's interactive broadcast. If you would like to ask a question on today's broadcast, please press star followed by one on your telephone keypad. At this time, I would like to turn the call over to Trinh Stiemart, Absolera's chief legal and compliance officer.

Thank you. Good afternoon and welcome to Abcelera's third quarter 2022 business update. We're pleased to have you with us today as we discuss the results announced in our press release issued just after the market closed today, which you can find on our investor relations website. With me on the call today are Dr. Carl Hansen, Abcelera's chief executive officer and president, and Andrew Booth, Abcelera's chief financial officer. The webcast portion of this call contains a slide presentation that we will refer to during the call. If you are following along on the phone and wish to access the slide portion of this presentation, you may do so on the investor relations section of our website. For those of you who have accessed the streaming portion of the webcast, please be aware that there may be a delay and that you will not be able to pose questions via the web. This presentation may contain forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties. Please review our SEC filings for risk factors that could impact our future performance. Our presentation and SEC filings are available on our Investor Relations website. Note that all dollars referred to during our call today are U.S. dollars. Now, I am pleased to turn the call over to Dr. Carl Hansen.

Thanks, Trinh, and thanks, everyone, for joining us today. It's my pleasure to provide an update on our business for the third quarter of 2022. Today, November 8th, marks the 10th anniversary of Abcelera's incorporation. We founded Abcelera on a bold idea. to deliberately rethink and rebuild the critical product creation step in bringing new antibody therapies to the world. After a decade of company building, we believe we now have the industry's most powerful engine for antibody discovery. Along the way, we've grown from six founders in a lab to a business of nearly 500 people spread across four countries and three continents. We've earned a reputation as a leader in the industry and have worked on over 90 different programs and have succeeded where others have failed. We've also validated our platform not just once but twice in bringing therapies to patients, delivering authorized antibodies, Bamlanivimab and Beptilivimab for the COVID-19 pandemic in what was arguably the most competitive and time-sensitive drug development effort in history. For a young company, our competitive position is exceptional. We've assembled an outstanding team We have put in place the core proprietary technologies that we need to execute our strategy, and we have nearly 600,000 square feet of state-of-the-art facilities that are either operational or under construction. Over this 10-year period, we have achieved all of this while building a balance of over $450 million in accumulated earnings and have nearly $900 million in total cash equivalents and marketable securities. It is on this solid foundation that we embark on the next decade of accelerating innovation and taking our business to the next level. Our business strategy is simple. First, it is to be the best in the world in bringing antibody therapies from target to the clinic. And second, it is to use this capability with partners to build a large and diversified portfolio of stakes in future antibody drugs. This is fundamentally a win-win strategy. We provide partners with a full solution and a competitive technology advantage in taking their programs to the clinic. In exchange, we share in the future success of therapies that are ultimately delivered to patients in need. In addition, for our shareholders, this model smooths out the binary risk of biotech investing by providing access to a curated slice of the market that is enriched for its best parts. We assemble our portfolio using deal structures that are tailored to each opportunity and to each partner. Our programs fall into three categories. First, partner-initiated discovery programs. Second, partner-initiated co-development programs. And third, pre-partner programs that arise from our ongoing technology development efforts. In our most typical discovery partnerships, deals are structured around partner-initiated work and include upfronts, research fees, clinical milestones, and single-digit royalties on net sales. Through these deals, we generate antibody candidates to deliver back to partners for further preclinical development and IND-enabling studies. We know that we are succeeding when molecules we've helped to discover progress through to the clinic. This quarter, we can update you on two partners bringing Abcelera-discovered antibodies closer to patients. An antibody discovered by Avicelra for an unnamed partner entered clinical development at the start of the quarter. This phase one molecule is indicated for the treatment of Alzheimer's disease, which is a huge area of unmet need. Second, this quarter Regeneron elected to advance an antibody forward in preclinical development that was discovered as part of our 2020 partnership. This molecule targets an undisclosed G protein coupled receptor or GPCR. GPCRs are a large and valuable class that is widely regarded as one of the most challenging for antibody discovery. Success in this program highlights the ability of our discovery technology to address difficult targets and also to move the needle for highly enabled partners like Regeneron. Last year, we announced a co-development partnership structure that represents a further amplification of our business model, enhancing the potential economics in our portfolio by giving us the option, but not the obligation, to invest in the co-development of molecules in order to retain an up to 50% stake. To date, we have initiated a total of seven programs under the structure with four different partners. For the most advanced co-development programs, we have discovered high-quality lead candidates that meet program requirements and are undergoing optimization. In 2023, we expect to select final lead candidates for one or more of these programs, positioning them for IND-enabling studies. Finally, in the last quarter, we introduced to you our pre-partnered programs, which is the third way which we create value. As a reminder, these are wholly owned assets discovered in connection with our high-value technology development work to unlock new areas in drug development. The two main areas for our pre-partnered programs are currently T-cell engagers and difficult memory protein targets, specifically GPCRs and ion channels. Last quarter, we shared with you the progress we've made over the past year in developing our CD3 T-Cell Engager platform, which offers access to what we believe is now the deepest and most diverse CD3 panel in the industry. In combination with the OrthoMap platform, this panel offers unprecedented opportunities for T-Cell Engager optimization and continues to attract a high level of interest. We will present new data on the characteristics of this panel at the 2022 Annual Meeting of the Society for Immunotherapy of Cancer, or CITC, which will be held later this week in Boston. Now, moving on to our efforts to unlock GPCRs and ion channels. We believe that continued progress in this area across all partnership models will drive substantial value for our business. To date, our technology development efforts have been applied to roughly a dozen GPCR and ion channel pre-partnered program targets. In some cases, this work is still at an early stage. For other targets, we have made exciting progress, and while technical risk remains, we anticipate sharing data on one or more of these clinical candidates from these programs in 2023. In summary, Abseller is ideally positioned for another decade of success. We will continue on our strategy, investing to become the global leader in antibody product creation. Before I hand over to Andrew, I would like to provide an update on bepfilumab and our COVID-19 program. Through much of Q3, bepfilumab continued to be the only authorized monoclonal antibody that remained effective against all variants of concern. More recently, two new variants, BQ1 and BQ1.1, have emerged, and our experiments suggest that these variants are likely to be resistant to bephthalomab. In response to this, and as part of our continuing collaboration with Eli Lilly, we have identified a new lead antibody candidate that is highly potent and that we expect will be effective against BQ1, BQ1.1, and all other known variants of concern. We believe this candidate has high potential to address an ongoing medical need, both for therapy and prophylaxis in COVID-19. If a clear path for clinical development and patient access can be established, together with Eli Lilly, we stand ready to move these molecules forward quickly, as we have done in the past. And with that, I'll now hand it over to Andrew Booth, our CFO, to provide an overview of our third quarter 2022 financials. Andrew? Thanks, Carl.