ABL Bio said Friday that it has licensed out ABL001, a bispecific antibody with indications for anti-cancer and eye treatment, to TRIGR Therapeutics, a U.S. no research and development only (NRDO) company.
Under the accord, ABL Bio will transfer the exclusive license rights for ABL001 to TRIGR Therapeutics, which will pay $595 million, including a $5 million contract fee.
TRIGR Therapeutics will also gain exclusive global rights to the drug candidate except for Korea and Japan.
ABL001, one of ABL Bio’s main pipelines, is a bispecific antibody that binds simultaneously to VEGF (vascular endothelial growth factor) and delta-like ligand 4 (DLL4), which play an essential role in the neovascularization process.
It has a high binding force to each antigen and has a structure that receives fewer structural interference when the antigen and antibody bind, which in turn, result in a high therapeutic effect.
The company is currently conducting phase I clinical trials for the drug.
“The technology transfer agreement is the company's fifth technology transfer contract and the fourth contract this year,” ABL Bio CEO Lee Sang-hoon said. “Such a feat demonstrates that more and more pharmaceutical companies are recognizing our technology.”
The company will continue to lead the field of dual antibody-based drug development through continuous research and development, he added.