South Korea’s ABL Bio, a biotech company specializing in bispecific antibodies, has signed a major licensing agreement with global pharmaceutical giant GSK for its proprietary blood-brain barrier (BBB)-penetrating platform, Grabody-B, the company announced on April 7.
Under the deal, ABL Bio will receive KRW 739 billion in upfront payment and KRW 741 billion in near-term milestones, totaling KRW 1.48 trillion (approx. USD 1.1 billion) in initial revenue. The agreement also includes up to KRW 3.96 trillion (approx. USD 2.9 billion) in additional milestone payments tied to clinical development, regulatory approval, and commercialization. Moreover, ABL Bio is entitled to tiered royalties based on net sales following commercialization.
The two companies will collaborate to develop novel therapeutics for neurodegenerative diseases, leveraging multiple modalities such as siRNA, antisense oligonucleotides (ASOs), and antibodies, all delivered using the Grabody-B platform. GSK will lead preclinical and clinical development, manufacturing, and commercialization, while ABL Bio provides the core technology and expertise.
The BBB acts as a protective barrier, preventing harmful substances from entering the brain, but also poses a major challenge for CNS drug delivery. ABL Bio’s Grabody-B overcomes this obstacle by targeting the Insulin-like Growth Factor 1 Receptor (IGF1R), enabling therapeutic agents to effectively reach the brain.
“This partnership marks a significant step in our strategy to develop innovative treatments for neurodegenerative diseases,” said Christopher Austin, Senior Vice President of Research Technologies at GSK. “Grabody-B represents a highly promising platform to overcome the blood-brain barrier and deliver therapies where they’re needed most.”
Dr. Sanghoon Lee, CEO of ABL Bio, added, “This deal validates the commercial and scientific potential of Grabody-B, and reflects our commitment to addressing unmet needs in areas like Alzheimer’s and Parkinson’s disease through transformative innovation.”
The licensing agreement is regarded as the second-largest tech transfer deal in South Korea’s biotech history, following ALTos Biologics’ KRW 4.7 trillion licensing deal with Merck (MSD) in 2020.
