ABL Bio has exported its drug delivery technology for the brain valued at 4 trillion won and is expecting additional outcomes in bispecific antibody technology and new drug candidates for bile duct cancer.
CEO Lee Sang-hoon of ABL Bio said this during an online briefing held via the company's official YouTube channel on the morning of the 9th. The company also held an offline briefing in Yeouido, Seoul, in the afternoon for analysts and institutional investors.
ABL Bio announced that it signed a technology transfer agreement for the Grabody-B platform with GlaxoSmithKline (GSK) on the 7th. The contract, including an upfront payment and short-term milestones of 148 billion won, was valued at up to 4.1 trillion won. This marks the second-largest technology export deal for a Korean pharmaceutical biotech company, following the 4.7 trillion won technology transfer agreement that Alteogen signed with Merck (MSD) in 2020.
Grabody-B is a shuttle technology that enables drugs to cross the blood-brain barrier. While oxygen and nutrients travel from blood vessels to the brain, larger proteins are blocked by endothelial cells surrounding the blood vessels and cannot reach the brain. The blood-brain barrier protects the brain from foreign substances but poses a problem for protein-based therapies like antibodies trying to access the brain.
Lee stated, "Through the core four technologies, including Grabody-B and the bispecific antibody immuno-oncology development platform 'Grabody-T,' bispecific antibody antibody-drug conjugate (ADC) development, and the new drug candidate 'ABL001 (Tobesimog)' for bile duct cancer, we will continue to enhance corporate value." Unlike a single antibody that recognizes one type of antigen, a bispecific antibody targets two antigens simultaneously. As it attacks in dual fashion, the anti-cancer effect is higher. ADC is a therapeutic technology that attaches a drug to an antibody to deliver it specifically to cancer cells.
Lee expressed confidence in the company's blood-brain barrier shuttle technology. There are several competitors with similar technology, including Switzerland's Roche, the U.S. firms Genentech, Johnson & Johnson (J&J), and Denali, which was acquired by Biogen. Lee noted, "The technology transfer agreement with GSK has provided an opportunity to demonstrate that we have the best blood-brain barrier shuttle, both directly and indirectly," and added, "Considering the technology application data and development status of other companies, I expect Grabody-B to rise as the new leader in the era of blood-brain barrier shuttles."
He stated, "We will expand the application range of Grabody-B using various modalities, including antibodies, messenger ribonucleic acid (mRNA), and ADC. Since it is also possible to extend it to various brain diseases, including dementia, we will refine our targets such as amyloid beta and p-tau to enhance technology transfer opportunities." Amyloid beta and tau are proteins that induce Alzheimer's disease.
Lee emphasized that the company would continue its growth through the bile duct cancer new drug ABL001 and bispecific antibody ADC development with Grabody-B. Lee stated, "We plan to recruit ADC specialists and leverage verified antibodies including ABL206 to take the lead in the bispecific antibody ADC market."
ABL001, developed by ABL Bio, is a bispecific antibody new drug for which U.S. Compass Therapeutics holds global rights. Previously, Compass Therapeutics announced that the therapeutic effect of ABL001 was confirmed in a global phase 2/3 clinical trial targeting patients with metastatic and recurrent bile duct cancer. Lee expected, "Bile duct cancer has a high unmet need due to the lack of treatment options, so I believe ABL001 will be approved as a second-line treatment for bile duct cancer next year."