[Asia Economy Reporter Park So-yeon] ABL Bio is hitting the upper limit.
As of 9:50 a.m. on the 12th, ABL Bio is trading at 26,150 KRW on the KOSDAQ market, up 6,000 KRW (29.78%) from the previous trading day.
On the same day, ABL Bio announced that it has signed a joint development and technology transfer agreement worth up to $1.06 billion (approximately 1.272 trillion KRW) with the French pharmaceutical company Sanofi for the bispecific antibody candidate 'ABL301,' which is being developed as a treatment for degenerative brain diseases such as Parkinson's disease.
ABL Bio will receive an upfront payment of $75 million (approximately 90 billion KRW) and milestone payments totaling $98.5 million (approximately 1.182 trillion KRW), including $45 million (approximately 54 billion KRW) for short-term milestones based on success in clinical trials, approvals, and commercialization stages.
If the product is commercialized, ABL Bio will also receive royalties based on net sales. This agreement will take effect once administrative procedures such as the U.S. Hart-Scott-Rodino Antitrust Improvements Act (HSR) are satisfied.
Under this agreement, Sanofi will have exclusive rights to develop and commercialize ABL301 in the global market. ABL Bio will lead the remaining preclinical studies and Phase 1 clinical trials of ABL301, while Sanofi will be responsible for clinical trials from Phase 2 onward through commercialization.
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