Abion Begins Rights Offering Subscription: "CEO to Fully Participate, Confident in Development"

Abion announced on November 20 that it will begin accepting subscriptions for its rights offering, which will be conducted through a shareholder allocation followed by a public offering of forfeited shares.

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The subscription period for existing shareholders will take place from November 20 to 21, and the public offering subscription will be held from November 25 to 26. On November 12, CEO Shin Younggi announced his intention to fully subscribe to 100% of his allocated shares, demonstrating confidence in the development of the company's core pipeline. Abion plans to continue its shareholder-friendly policy by conducting a bonus issue alongside the rights offering.

Abion is making steady progress in the development of new drugs, including the global technology transfer and joint development of ABN501.

The antibody platform 'ABN501,' which has been licensed to a U.S. biotech company, is a monoclonal antibody technology targeting the Claudin 3 (CLDN3) protein. CLDN3 is a highly expressed target in solid tumors such as small cell lung cancer (SCLC), ovarian cancer, and bladder cancer. ABN501 is the world's first CLDN3 monoclonal antibody pipeline to enter the new drug development stage.

Although the detailed contract terms cannot be disclosed due to a confidentiality agreement, the company stated that it is in close discussions with its partner. Abion also expressed high expectations for future milestone and royalty income.

An Abion representative said, "We aim to finalize the Master Collaboration Agreement (MCA) in the near future, resolve uncertainties surrounding the technology transfer, and enhance the company's value."

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