ABION Signs Term Sheet for ABN501 with US ADC Developer

Abion announced on the 14th that it has signed a term sheet (memorandum of contract execution) with a Boston-based US antibody-drug conjugate (ADC) developer for the license-out (LO) of antibodies and bispecific antibodies related to ABN501.

ABN501 is being developed as a first-in-class antibody therapeutic targeting Claudin 3 (CLDN3). According to the term sheet, the future LO contract will include three single antibodies and bispecific antibody candidates, including CLDN3.

ABN501 demonstrates antibody-dependent cellular cytotoxicity (ADCC) activity against cancer cells based on high specificity and strong binding affinity. Utilizing various platform technologies such as ADCs and bispecific antibodies, it can be developed as a therapeutic for multiple cancer types.

An Abion representative stated, "This term sheet is significant as it reflects high recognition of the excellent stability, technology, and potential of Abion’s developed antibodies and bispecific antibodies, including ABN501. Considering the ongoing development collaboration requests from global pharmaceutical companies, the US developer proactively requested the term sheet to assert priority rights over the candidate substances."

He added, "If the LO main contract follows, the contract size is expected to exceed $800 million (approximately 1.2 trillion KRW). We have signed a term sheet at a level similar to the main contract in advance, and it is expected that the LO contract can be concluded soon."

Furthermore, "In addition to these candidate substances, we also have an additional pipeline of over 20 antibody and bispecific antibody-based candidates, so follow-up LO agreements are continuously ongoing," he added.

Meanwhile, Abion plans to disclose preclinical results of the combination therapy of Vabamekip and Lazertinib, as well as development strategies and research data for ABN501 and ABN202 at the American Association for Cancer Research (AACR). The event will be held from the 25th to the 30th of this month (local time) in Chicago, Illinois, USA.