ABL Bio, a KOSDAQ-listed company, is experiencing a two-day surge following the announcement of a technology export contract with global pharmaceutical company GlaxoSmithKline (GSK) worth over 4 trillion won.
As of 10:40 a.m. on the same day, ABL Bio was trading at 50,900 won, up 6,650 won (15.03%) from the previous trading day. During the session, the stock price reached 52,800 won, marking the highest price in a year.
ABL Bio announced that it had entered into a technology transfer agreement with GSK to develop new treatments for degenerative brain diseases based on the blood-brain barrier (BBB) shuttle platform "Grabody-B" before the market opened the previous day. Following this news, ABL Bio's stock closed at the upper limit of the daily price cap.
ABL Bio is expected to receive 38.5 million pounds (approximately 789 million won) as an upfront payment and short-term milestone payment. Depending on the success of clinical trials, approvals, and commercialization, ABL Bio will receive a total of 206.3 million pounds (approximately 39.62 billion won) in milestone payments, and will receive an agreed-upon percentage of net sales as a continuous royalty.