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AbCellera Announces Resignation of Tech Entrepreneur and Investor Peter Thiel from Company's Board of Directors
Monday, February 26, 2024Company Profile | Follow Company
Vancouver, BC, February 26, 2024--(T-Net)--AbCellera (Nasdaq: ABCL) today announced that Peter Thiel has notified the Company of his intention to resign from the Company's Board of Directors for personal reasons, effective March 7, 2024.
Mr. Thiel joined AbCellera's Board of Directors in November 2020 and served as the Chairman of the Company's Nominating and Corporate Governance Committee.
Peter Thiel is am internationally well known entrepreneur and investor. He cofounded PayPal, led it as CEO, and took it public; he made the first outside investment in Facebook, where he serves as a director; and he cofounded Palantir Technologies, where he serves as chairman.
He provided early funding for LinkedIn, Yelp, and dozens of startups, many run by former colleagues who have been dubbed the "PayPal Mafia." He is a partner at Founders Fund, a Silicon Valley venture capital firm that has funded companies including SpaceX and Airbnb.
He also started the Thiel Fellowship, which funds young entrepreneurs, and he leads the Thiel Foundation, which works to advance technological progress and long-term thinking. He is also the #1 New York Times bestselling author of Zero to One: Notes on Startups, or How to Build the Future.
"AbCellera continues to expand the frontier of biotech, a nefariously difficult and vital field," said Peter Thiel. "I am proud to have helped them with their mission."
Effective March 7, 2024, Dr. Andrew Lo, a member of the Company's Board of Directors, will be appointed to the Nominating and Corporate Governance Committee of the Board of Directors.
Carl Hansen, DIRECTOR & CEO, AbCellera
"On behalf of the members of our board and management, I express our deep appreciation for Peter's contributions," said Carl Hansen, Ph.D., founder and CEO of AbCellera. "I would also like to personally thank Peter for his mentorship over the past three years. It has been a great privilege to learn from him."
The company said in a release that Mr. Thiel did not advise the Company of any disagreement with the Company on any matter relating to its operations, policies or practices. Effective upon Mr. Thiel's resignation as a director, the size of the Company's Board of Directors will be reduced from six to five directors.
About AbCellera Biologics Inc.
AbCellera is breaking the barriers of conventional antibody drug discovery to bring better medicines to patients, sooner. AbCellera's engine integrates expert teams, technology, and facilities with the data science and automation needed to propel antibody-based medicines from target to clinic in nearly every therapeutic area with precision and speed. AbCellera provides innovative biotechs and leading pharmaceutical companies with a competitive advantage that empowers them to move quickly, reduce cost, and tackle the toughest problems in drug development.
AbCellera Forward-looking Statements This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations. [ MORE ] |
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