ABL Bio Signs 3.8 Trillion Won Grabody Platform Technology Transfer Deal with Eli Lilly

ABL Bio, a company specializing in bispecific antibodies, has signed a technology transfer agreement worth nearly 3.8 trillion won with global pharmaceutical giant Eli Lilly.

According to ABL Bio on November 12, under this agreement, ABL Bio will receive an upfront payment of 40 million dollars (approximately 58.5 billion won) within 10 business days after the completion of administrative procedures such as the U.S. Hart-Scott-Rodino Antitrust Improvements Act (HSR Act). In addition to the upfront payment, ABL Bio is eligible to receive up to 2.562 billion dollars (approximately 3.7487 trillion won) in development, regulatory, and commercialization milestone payments, and will also be paid tiered royalties based on net product sales.

Lee Sanghoon, CEO of ABL Bio, said, "This technology transfer agreement is very encouraging as it not only reaffirms the commercial potential of the Grabody platform but also demonstrates the continued expansion of modalities to which the Grabody platform can be applied. Currently, the status of Grabody is very high. Leveraging this momentum, ABL Bio plans to expand the indications of Grabody to areas with significant unmet medical needs, including obesity and muscle diseases."

Meanwhile, ABL Bio is developing a variety of clinical and preclinical pipelines based on its bispecific antibody platform, Grabody. Clinical projects for eight pipelines-ABL301 (SAR446159), ABL001 (Tovecimig), ABL111 (Givastomig), ABL503 (Ragistomig), ABL105 (YH32367), ABL104 (YH32364), ABL202, and ABL103-are underway in several countries, including the United States, China, Australia, and Korea.

This content was produced with the assistance of AI translation services.