ABL Bio Confident in Technology Transfer This Year, Secures $310 million for Development

ABL Bio has announced its ambition to become a global leader in the targeted cancer therapy market through the development of antibody-drug conjugates (ADCs) utilizing bispecific antibodies. On the 3rd, CEO Lee Sang-Hoon  introduced the 'ABL 2.0' strategy during a corporate briefing, detailing plans to enhance future profitability by aiming for technology transfers after entering the clinical development stage for its pipelines.

To support these plans, CEO Lee revealed that over 400 billion KRW (approx. $310 million USD) has been secured for research and development. Previously, on the 2nd, ABL Bio decided on a third-party allocation of paid-in capital increase worth 140 billion KRW (approx. $108 million USD) to develop next-generation ADCs, with participation from five institutional investors including KDB Industrial Bank and Hana Financial Group.

Furthermore, CEO Lee expressed confidence in achieving at least one technology transfer agreement by the end of this year. He stated, "We are currently in pre-contract negotiations with a global pharmaceutical company for the technology transfer of our bispecific antibody platform. The contract is expected to be finalized within this year, with additional technology transfers targeted by the end of next year." He also explained, "Combining milestone fees, contract payments, and funds from the capital increase, we can secure 400 billion KRW (approx. $310 million USD) in cash."

ABL Bio plans to utilize these funds for the development of bispecific antibody ADCs. Bispecific antibodies are considered key to next-generation ADC therapies.

ADCs are therapeutic agents that link antibodies, which target cancer cells, with drugs that kill cancer cells via a linker. While antibodies selectively target antigens expressed only on cancer cells, they sometimes attack normal cells as well. Bispecific antibodies, which target two different antigens, increase drug absorption within cells and reduce toxicity risks to normal cells compared to traditional monoclonal antibody ADCs.

Currently, no bispecific antibody ADCs have been approved in the global pharmaceutical industry, with most pipelines still in early clinical stages. Collaborating with Nasdaq-listed partner i-Mab Biopharma, ABL Bio has initiated Phase 1 clinical trials in the US and Korea for its bispecific antibody ADC pipeline 'ABL503.' The company aims to accelerate development and secure a leading position in the global industry.

Additionally, ABL Bio is developing other bispecific antibody ADC candidates such as ABL206, ABL209, and ABL210. These candidates have already demonstrated anti-cancer efficacy in preclinical trials and are scheduled to enter clinical trials after submitting Investigational New Drug (IND) applications next year.

CEO Lee emphasized, "We will make every effort to secure technology transfers and expedite market entry by actively recruiting professionals from global pharmaceutical companies to our US subsidiary, 'ABL Bio USA,' and investing the secured funds extensively."