ABL Bio has secured a technology transfer agreement worth 4.1 trillion won ($2.79 billion) with GlaxoSmithKline for its blood-brain barrier shuttle platform, sending the Korean biotech’s shares soaring 30% on Monday.
The deal marks ABL Bio’s second major licensing agreement for its Grabody-B technology, which is designed to deliver therapies directly into the brain by targeting insulin-like growth factor 1 receptors on the blood-brain barrier. The platform aims to overcome one of neuroscience’s most challenging obstacles—enabling treatments to cross the protective barrier that blocks most drugs from reaching brain tissue.
Under the agreement, ABL Bio will receive up to 148 billion won ($77.1 million) in upfront and near-term payments, including an immediate signing fee of 73.9 billion won ($38.5 million). The company is also eligible for additional milestone payments and tiered royalties on future sales.
GSK’s substantial investment highlights the growing urgency to develop effective treatments for Alzheimer’s, Parkinson’s and other neurodegenerative conditions. The partnership will focus on developing multiple therapeutic modalities, including antibodies, small interfering RNA, and oligonucleotides, with GSK assuming responsibility for preclinical development through commercialization.
The agreement represents the second-largest technology transfer deal in South Korea’s biotech industry, following Alteogen’s 4.7 trillion won agreement with Merck Sharp & Dohme in 2020.
Industry analysts see the deal as validation for ABL Bio’s platform approach, though success remains contingent on the technology delivering therapeutic molecules across the blood-brain barrier in human trials.
