In the current version of Google Sheet, to insert a hyperlink in to a cell, you would do this
sheet.getRange(row, selectedColumn).setValue('=hyperlink("' + ontologyObject.accession + '";"' + ontologyObjectTerm + '")')
In the new version of Google Sheets, the hyperlink insertion is different, you do this.
sheet.getRange(row, selectedColumn).setValue('=HYPERLINK("' + ontologyObject.accession + '","' + ontologyObjectTerm + '")')
However, I have a problem in that the inserted value in the spreadsheet is not what I expect. In this image showing the inserted link, there is a ' inserted before the =HYPERLINK - I've no idea where this is coming from. Any ideas?