Peter Thiel Joins Board of AbCellera Biologics

Canadian antibody therapy developer AbCellera Biologics announced on Thursday afternoon that venture capitalist and Paypal founder Peter Thiel has joined the company’s board of directors, in a move aimed at increasing its revenues before the second quarter of 2021.

Canadian antibody therapy developer AbCellera Biologics announced on Thursday afternoon that venture capitalist and Paypal founder Peter Thiel has joined the company’s board of directors, in a move aimed at increasing its revenues before the second quarter of 2021.

According to a Forbes report, Thiel joins the startup’s board a couple of months it hired investment banks for a US initial public offering, which could come by the end of this year. The media outlet pointed that Thiel, who has backed numerous startups as they went public, is an existing investor in AbCellera Biologics.

Forbes pointed out that AbCellera has been one of the companies most affected by the COVID-19 pandemics and lockdown measures imposed to contain its spread, but is currently working with Eli Lilly to develop a treatment for the virus.

Thiel is known for his early investments in Facebook and founding electronic payment service provider Paypal with Elon Musk. In September, he took data analytics firm Palantir Technologies public through a direct-listing.


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