[Alpha Biz= Paul Lee] ABL Bio announced on the 26th that it has received an upfront payment of USD 40 million (approximately KRW 58.5 billion) and a USD 15 million equity investment (approximately KRW 22 billion) from Eli Lilly under a technology licensing and joint research agreement for its Grabody platform.
Under the collaboration, ABL Bio and Eli Lilly are conducting joint research and development efforts to create therapeutics across multiple modalities using the Grabody platform.
ABL Bio plans to use the newly secured funds to accelerate research and development of its core technologies, including its bispecific antibody platform Grabody, antibody-drug conjugates (ADCs), and dual-payload ADCs.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
