South Korean biotech ABL Bio is negotiating technology export deals worth over 1 trillion won ($695.8 million) for its antibody platforms with major pharmaceutical companies. The potential agreements would surpass its previous 1.47 trillion won deal with Sanofi in 2022.
The deals center on the company’s blood-brain-barrier penetrating platform Grabody-B or its bispecific antibody platform Grabody-T. CEO Lee Sang-hoon indicated that global pharmaceutical firms have validated both technologies after reviewing clinical data.
The company confirmed receiving a preliminary agreement sheet from a pharmaceutical company, with terms improving following discussions at the J.P. Morgan Healthcare Conference. Lee noted that talks have progressed significantly since last year.
ABL Bio expects topline results from its partner Compass Therapeutics’ phase 2/3 trial of ABL001 in bile duct cancer by March end. Positive results could support FDA approval as a second-line treatment, while ongoing trials at MD Anderson Cancer Center explore first-line use.
The company plans to appoint a CEO for its U.S. subsidiary by March, choosing between former executives from Genentech and Takeda. Management is considering a Nasdaq listing for the unit or potential sale to a larger pharmaceutical company.
