ABL Bio, a company focused on bispecific antibody technologies, announced that it will receive a USD 40 million upfront payment under a license, research, and collaboration agreement for its proprietary Grabody platform, along with a USD 15 million equity investment from Eli Lilly and Company.

ABL Bio and Lilly are currently engaged in joint research and development of multiple therapeutic candidates based on the Grabody platform, spanning various treatment modalities.

Alongside the expanded collaboration with Lilly, ABL Bio plans to accelerate research and development across its core technology platforms. These include the bispecific antibody platform Grabody, bispecific antibody-drug conjugates, and dual-payload antibody-drug conjugates, supported by the newly secured funding.

Commenting on the development, Sang Hoon Lee, chief executive officer of ABL Bio, said that following completion of all required administrative procedures, including clearance under the Hart-Scott-Rodino Act, the company will receive both the upfront payment and the equity investment from Lilly. He added that ABL Bio intends to use the funding to broaden the application of the Grabody platform into high unmet-need areas such as obesity and muscle-related disorders. The company also plans to advance its bispecific immuno-oncology programmes into combination therapies and focus on the development of next-generation antibody-drug conjugates.

In November, ABL Bio entered into a license, research, and collaboration agreement with Lilly for the Grabody platform with a total deal value of up to USD 2.602 billion, which includes the USD 40 million upfront payment. The companies also signed a separate USD 15 million equity investment agreement. Through these arrangements, ABL Bio aims to explore long-term collaborative opportunities with Lilly to develop innovative therapies.

ABL Bio is advancing a broad portfolio of clinical and preclinical programmes based on its Grabody bispecific antibody platform. The company currently has eight clinical-stage pipelines under development, including ABL301 (SAR446159), ABL001 (tovecimig), ABL111 (givastomig), ABL503 (ragistomig), ABL105 (YH32367), ABL104 (YH32364), ABL103, and ABL202 (CS5001/LCB71), targeting multiple indications across markets such as the United States, China, Australia, and Korea.