ABL Bio announced on the 12th that it received approximately 739 billion won in transfer contract fees from global pharmaceutical company GlaxoSmithKline (GSK).
In April, ABL Bio signed a contract with GSK to transfer its brain delivery platform technology. GSK plans to develop new therapies for degenerative brain diseases based on ABL Bio's blood-brain barrier (BBB) shuttle platform "GrabBody-B." GrabBody-B facilitates the passage of drugs across the blood-brain barrier (BBB).
ABL Bio will transfer technology and know-how related to GrabBody-B, while GSK will be responsible for preclinical and clinical development, manufacturing, and commercialization. According to the contract, if successful in development, approval, and commercialization, ABL Bio could receive up to 3.9623 trillion won (2.063 billion pounds) as a milestone payment.