ABL Bio is currently in discussions with major pharmaceutical companies for technology export deals worth over 1 trillion won (approximately $695.80 million). The company plans to use this as a stepping stone to accelerate the commercialization of its platform business.
On Jan. 23, ABL Bio held a corporate presentation, sharing updates on the development of its bispecific antibody platform-based pipeline and the outcomes of the J.P. Morgan Healthcare Conference (JPMHC). CEO Lee Sang-hoon mentioned the possibility of the largest deal with a major pharmaceutical company in the company’s history, stating, “We expect a technology export contract even larger than our previous deal with Sanofi, which was our largest to date.” In 2022, ABL Bio exported its Parkinson’s disease treatment “ABL301” to Sanofi, in a mega-deal worth 1.47 trillion won, including an upfront payment of 100 billion won.
The technology export under discussion involves either the blood-brain-barrier(BBB)-penetrating platform “Grabody-B” or the 4-1BB-based bispecific antibody platform “Grabody-T.” Unlike specific drug candidate deals, ABL Bio aims to export platforms applicable to multiple pipelines to ensure sustainability. CEO Lee said, “Global big pharma companies we met at this year’s JPM have confirmed that further validation for Grabody-B and Grabody-T is unnecessary after reviewing the clinical data.” He added, “Sanofi’s continued development of ABL301 using Grabody-B demonstrates the technological prowess of our platform.” Lee further emphasized, “We will finalize fully validated contracts, not mere material transfer agreements (MTAs),” while noting that specifics regarding the timing and scale of the technology export could not yet be disclosed but that progress was being made swiftly.
During a corporate briefing last year, ABL Bio revealed that it had received a term sheet from a global pharmaceutical company, committing to at least one technology export deal within the year. A term sheet is a preliminary agreement outlining the detailed conditions before signing the final contract. Lee explained, “During the discussions at the JPM, we secured terms that were more favorable than the initial term sheet, allowing us to finalize the deal in the latter half of last year. Currently, the technology export discussions have progressed further compared to the state they were in last year.”
Expectations are also high for ABL001, a bispecific antibody cancer therapy, with topline results set to be announced at the end of March. U.S. partner Compass Therapeutics plans to disclose the phase 2/3 clinical trial results for bile duct cancer. Lee noted, “If the Compass phase 2/3 trial results are favorable, the likelihood of FDA approval as a second-line treatment for bile duct cancer will increase. Furthermore, clinical trials at the University of Texas MD Anderson Cancer Center are being conducted to explore the potential of ABL001 as a first-line treatment, indicating significant opportunities for expansion.”
The development of bispecific antibody ADCs is expected to accelerate through ABL Bio USA, the company’s U.S. subsidiary. Lee stated, “Two final candidates for the CEO of our U.S. subsidiary have been shortlisted–one from Genentech and another from Takeda. The CEO appointment will be finalized by March. We are also considering Nasdaq listing for ABL Bio USA and the possibility of selling the subsidiary to a global big pharma company.”
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