AbCellera launched an underwritten public offering aimed at raising about $200 million to advance its menopause antibody program. The company’s plan includes common shares and pre-funded warrants, with proceeds intended to support ABCL635, its lead clinical candidate, through ongoing and future clinical development. AbCellera also highlighted ABCL365, an investigational non-hormonal antibody medicine targeting NK3R for moderate-to-severe vasomotor symptoms. The financing comes as antibody developers compete for clinical momentum while balancing burn rates and timeline risk. Financial backstops include a syndicate of major banks, with Jefferies, J.P. Morgan, Cantor, UBS Investment Bank, and BMO Capital Markets serving as joint book-running managers. AbCellera cautioned that completion depends on market and other conditions. For the sector, the deal reflects how clinical-stage biotech firms are using public capital to extend runway and preserve optionality across development programs.