ABL Bio licenses Parkinson's disease treatment technology to Sanofi... Up to 1.3 trillion KRW deal
Contract Deposit of 90 Billion KRW and Short-term Milestone of 54 Billion KRW
[Asia Economy Reporter Lee Chun-hee] ABL Bio, a bispecific antibody specialist company, has succeeded in licensing out the bispecific antibody candidate 'ABL301' for the treatment of degenerative brain diseases such as Parkinson's disease to Sanofi, a multinational pharmaceutical company headquartered in France. The contract size is up to $1.06 billion (approximately 1.272 trillion KRW), with an upfront payment of $75 million (approximately 90 billion KRW).
On the 11th (local time), ABL Bio announced on the 12th that it had signed a contract to transfer exclusive global rights for the development and commercialization of ABL301 through Genzyme, a 100% subsidiary of Sanofi.
ABL301 is a bispecific antibody drug candidate that combines an antibody targeting aggregated alpha-synuclein with the BBB shuttle platform (Grabody-B), which targets IGF1R to maximize blood-brain barrier (BBB) penetration. The remaining preclinical studies and Phase 1 clinical trials of ABL301 will be co-developed under the leadership of ABL Bio, and Sanofi will be responsible for the subsequent clinical trials through commercialization.
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The total technology transfer amount is up to $1.06 billion (approximately 1.272 trillion KRW). Considering the non-refundable upfront payment of $75 million (approximately 90 billion KRW) and short-term milestones of $45 million (approximately 54 billion KRW), ABL Bio is expected to receive about 10% of this amount, approximately $120 million (approximately 144 billion KRW), in the short term. Additionally, milestone payments totaling $940 million (approximately 1.128 trillion KRW) for success in clinical trials, approvals, and commercialization are included. These milestones are also non-refundable. Furthermore, ABL Bio will separately receive royalties at an agreed percentage based on net sales.
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