Abion 추진 Sale Through Third-Party Allocation of New Shares

Abion announced on the 29th that it will begin the sale process through a third-party allotment paid-in capital increase targeting global pharmaceutical companies. Along with this, it will also promote the licensing out (LO) of its pipeline.

Abion's main pipeline, ABN401, is a c-MET (hepatocyte growth factor receptor) therapeutic currently undergoing global Phase 2 clinical trials. The clinical results are scheduled to be presented at the American Society of Clinical Oncology (ASCO 2024) held in Chicago, USA, in May.

The company also possesses pipelines such as ABN202, a platform based on antibody-cytokine fusion protein (ACFP) technology, and ABN501, a claudin-3 targeted anticancer agent. From May 5 to 10 (local time), ABN202 disclosed research abstracts on three technologies at the American Association for Cancer Research (AACR 2024) held in California, USA. ABN501 is the world's only claudin-3 targeted anticancer drug. Previously, it was difficult to develop technology targeting only claudin-3, but Abion succeeded in developing antibodies with high selectivity and specificity.

Shin Young-ki, CEO of Abion, stated, “We have invested large-scale funds and relentless efforts to establish competitiveness in new drug development capabilities in the global market,” adding, “This sale is being pursued to focus more on new drug development through additional fundraising.”

He continued, “We have signed advisory contracts with major domestic accounting firms for the sale and technology licensing,” and said, “Since the encouraging clinical results have received high evaluations at various academic conferences, we expect a successful deal.”

Meanwhile, on the 18th, Abion disclosed that Telcon RF Pharmaceutical became the largest shareholder by purchasing 2,508,381 common shares through a block deal (off-hours large-volume trade). Telcon RF Pharmaceutical stated that it will support the sale to global pharmaceutical companies through a third-party allotment paid-in capital increase without selling existing shares.

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