ABL Bio, which announced a technology export worth up to 4 trillion won, will hold an online and offline corporate briefing on the 9th.
The dual antibody specialist ABL Bio noted that it will hold a corporate briefing (IR) at 9 a.m. on the 9th via its official YouTube channel.
During the online IR, CEO Lee Sang-hoon of ABL Bio will personally explain the background of the technology export success and reveal future plans. An offline briefing for institutional investors will also be held at 2 p.m. at the Conrad Seoul in Yeouido, Seoul, following the morning online session.
On the same day, ABL Bio announced that it signed a technology transfer agreement with GlaxoSmithKline (GSK) for the development of a new treatment for neurodegenerative diseases based on the blood-brain barrier shuttle platform 'Grabbody-B.'
According to the contract conditions, ABL Bio expects to receive a contract fee of 739 billion won (38.5 million pounds) including an upfront payment, with a maximum of 1.48 trillion won (771 million pounds) in total contract fees and short-term milestone payments to be received within 30 days.
It has also secured the right to receive up to 3.9623 trillion won (2.063 billion pounds) in developmental, approval, and commercialization milestones for multiple programs, and step-by-step royalties based on net sales. The total amount of the technology transfer contract reaches 4.1 trillion won.
This marks the second largest technology export in the domestic biotech industry at 4 trillion won. Previously, Alteogen signed a technology transfer contract valued at approximately 4.7 trillion won with Merck (MSD) in 2020, making it the second-largest contract in the domestic biotech sector.
Following the announcement of the technology export news, ABL Bio surged to its upper limit after the market opened. ABL Bio closed at 44,250 won, up 29.96% from the previous session.