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Thiel, who has backed several startups as they went public, is an existing investor in AbCellera. He joins the startup’s board a couple of months after Reuters reported that it had hired investment banks for a U.S. initial public offering, which could come this year.
AbCellera has been working with Eli Lilly and Co (N:LLY) to develop a treatment for the novel coronavirus.
Thiel is known for his early investments in Facebook (O:FB) and co-founding electronic payment service provider Paypal Inc (O:PYPL). In September, he took data analytics firm Palantir Technologies Inc (N:PLTR) public through a direct-listing.
