ABL Bio, a leading South Korean clinical-stage biotech company specializing in bispecific antibodies, has finalized a landmark collaboration with global pharmaceutical giant Eli Lilly and Company. Announced on December 26, 2025, the agreement includes a $40 million upfront payment for the license, research, and collaboration on ABL Bio's proprietary Grabody platform, alongside a $15 million equity investment, totaling $55 million in R&D funding.

韩国领先的临床阶段生物技术公司ABL Bio专攻双特异性抗体，近日与全球制药巨头礼来公司达成了一项具有里程碑意义的合作。该协议于2025年12月26日宣布，内容包括礼来公司支付4000万美元的预付款，用于获得ABL Bio专有的Grabody平台的许可、研究和合作，同时还进行了1500万美元的股权投资，研发资金总计达5500万美元。

This deal underscores the growing prominence of Asian biopharma innovators in the global oncology and immunotherapy landscape, particularly in bispecific antibody technologies..

该交易突显了亚洲生物制药创新者在全球肿瘤学和免疫治疗领域，特别是在双特异性抗体技术方面的日益突出的地位。

The Grabody platform, ABL Bio's core technology, enables the development of multifunctional antibodies that simultaneously target multiple disease pathways, offering enhanced efficacy in treating complex conditions like cancer. Under the terms of the agreement, both companies are actively engaged in joint research and development on several therapeutic candidates spanning various modalities, including bispecific antibodies, bispecific antibody-drug conjugates (ADCs), and dual-payload ADCs.

Grabody平台是ABL Bio公司的核心技术，能够开发同时针对多种疾病通路的多功能抗体，为治疗癌症等复杂疾病提供了更高的疗效。根据协议条款，两家公司正在积极合作开展多个治疗候选药物的联合研发，涵盖多种模式，包括双特异性抗体、双特异性抗体药物偶联物（ADC）以及双载荷ADC。

This partnership builds on an earlier November agreement valued at up to $2.602 billion, highlighting Lilly's long-term commitment to ABL Bio's pipeline..

这项合作建立在 11 月早些时候达成的一项价值高达 26.02 亿美元的协议基础上，突显了礼来对 ABL Bio 管线的长期承诺。

CEO Sang Hoon Lee emphasized the strategic use of the funding to expand Grabody indications into high-unmet-need areas such as obesity and muscle disorders. Additionally, ABL Bio plans to extend clinical development of its bispecific immuno-oncology candidates into combination therapies and accelerate next-generation ADC programs.

首席执行官李相勋强调了这笔资金的战略用途，即将Grabody的适应症扩展到肥胖和肌肉疾病等高未满足需求的领域。此外，ABL Bio计划将其双特异性免疫肿瘤候选药物的临床开发扩展至联合疗法，并加速下一代ADC项目的进展。

The company's robust pipeline includes eight clinical-stage assets: ABL301 (SAR446159, partnered with Sanofi post-Phase 1), ABL001 (tovecimig, FDA Fast Track designated), ABL111 (givastomig, showing promising Phase 1b data in triple combination with nivolumab and chemotherapy at ESMO GI 2025), ABL503 (ragistomig), ABL105 (YH32367), ABL104 (YH32364), ABL103, and ABL202 (CS5001/LCB71).

公司强大的研发管线包括八个临床阶段的资产：ABL301（SAR446159，与赛诺菲在一期临床后合作）、ABL001（tovecimig，获FDA快速通道指定）、ABL111（givastomig，在2025年ESMO GI会议上展示与nivolumab和化疗三联组合的1b期数据前景良好）、ABL503（ragistomig）、ABL105（YH32367）、ABL104（YH32364）、ABL103和ABL202（CS5001/LCB71）。

These programs are advancing in multiple countries, including the US, China, Australia, and Korea..

这些项目正在包括美国、中国、澳大利亚和韩国在内的多个国家取得进展。

This collaboration exemplifies the Bio Pharma category's momentum in Asia, where South Korea is emerging as a hub for innovative antibody therapies. ABL Bio's state-of-the-art R&D capabilities position it to challenge established players in immuno-oncology and beyond. The influx of capital from Lilly not only validates the Grabody platform's potential but also bolsters ABL Bio's capacity to scale manufacturing and clinical trials, addressing key supply chain challenges in biopharma production..

此次合作体现了生物制药类别在亚洲的发展势头，其中韩国正成为创新抗体疗法的中心。ABL Bio 先进的研发能力使其能够挑战免疫肿瘤学及其他领域的老牌企业。礼来公司的资本注入不仅验证了Grabody平台的潜力，还增强了ABL Bio扩大生产和临床试验的能力，解决了生物制药生产中的关键供应链挑战。

From a strategic perspective, this deal aligns with broader industry trends toward platform-based licensing agreements, enabling faster pipeline diversification and risk-sharing. For Lilly, it enhances its portfolio in next-generation biologics, complementing its existing investments in ADCs and bispecifics.

从战略角度来看，这笔交易符合平台型许可协议的行业大趋势，有助于加快产品线多样化并实现风险分担。对于礼来公司而言，此举增强了其在下一代生物制品领域的组合，与其在抗体偶联药物（ADC）和双特异性抗体方面的现有投资形成互补。

In the context of Asia's rising R&D investments, such partnerships signal a shift where regional innovators like ABL Bio are co-developing blockbuster candidates with Western majors, potentially reshaping global drug development dynamics..

在亚洲研发投资不断上升的背景下，这样的合作关系标志着一种转变，即像ABL Bio这样的区域创新者正与西方大型企业共同开发重磅候选药物，这可能会重塑全球药物研发的格局。

Regulatory milestones further strengthen ABL Bio's outlook: ABL001's Fast Track status accelerates its path to approval, while ABL111's clinical data supports expansion into gastrointestinal cancers. The company's focus on combination therapies addresses resistance mechanisms in solid tumors, a critical need in oncology.

监管里程碑进一步增强了ABL生物的前景：ABL001的快速通道地位加速了其获批进程，而ABL111的临床数据支持向胃肠道癌症领域的扩展。公司专注于联合疗法，旨在解决实体瘤中的耐药机制，这是肿瘤学中的一项关键需求。

Looking ahead, the $55 million infusion will fund preclinical advancements in obesity—a field exploding with GLP-1 interest—and muscle disorders, tapping into untapped markets..

展望未来，5500万美元的注入将资助肥胖症领域的临床前研究进展——这一领域因GLP-1的兴趣而迅速扩展——以及肌肉疾病，开拓尚未开发的市场。

ABL Bio's growth trajectory reflects South Korea's supportive ecosystem, including government-backed biopharma incentives and world-class manufacturing facilities. This positions the company to navigate geopolitical supply chain risks while ensuring high-quality output. Industry executives view this as a blueprint for B2B collaborations, fostering innovation in Research & Development and Clinical Trials categories.

ABL Bio的增长轨迹反映了韩国的支持性生态系统，包括政府支持的生物制药激励措施和世界级的制造设施。这使该公司能够在确保高质量产出的同时应对地缘政治供应链风险。行业高管将此视为B2B合作的蓝图，推动研发和临床试验领域的创新。

As ABL Bio advances its pipeline, stakeholders anticipate milestone payments and royalties that could propel it toward blockbuster status, reinforcing Asia's role in global life sciences..

随着ABL Bio推进其研发管线，利益相关者们期待着可能推动其走向重磅地位的里程碑付款和特许权使用费，这将进一步巩固亚洲在全球生命科学领域的地位。

In summary, this Lilly partnership not only provides immediate financial runway but also strategic validation, enabling ABL Bio to execute on its vision of transformative therapies. With clinical readouts on the horizon, the deal promises significant value creation for partners and patients alike, highlighting the vibrancy of Asian Bio Pharma innovation..

总之，与礼来公司的合作不仅提供了直接的财务支持，还提供了战略上的认可，使ABL生物公司能够实现其变革性治疗的愿景。随着临床结果即将出炉，这笔交易有望为合作伙伴和患者创造显著的价值，彰显了亚洲生物制药创新的活力。