Eli Lilly committed $55 million to South Korean biotechnology firm ABL Bio. The investment includes a $40 million upfront payment and a $15 million equity stake. This funding initiates a new license, research, and collaboration agreement centered on ABL Bio’s 'Grabody' bispecific antibody platform.
The strategic deal grants Lilly access to the 'Grabody' platform. Lilly will use this access for the joint research and development of multiple therapeutic candidates.
ABL Bio plans to utilize the new funding to expand the platform’s applications. This expansion targets high-unmet-need areas, potentially including obesity and muscle disorders. Additionally, ABL Bio will advance its immuno-oncology programs.