Eli Lilly and Company has entered into a significant licensing and joint research agreement with South Korean biotech firm ABL Bio for its bispecific antibody technology. The deal is valued at up to $2.6 billion and focuses on developing new therapies for cancer and neurodegenerative diseases such as Parkinson's and Alzheimer's. Under the terms of the agreement, ABL Bio will receive an upfront payment of $40 million. The company is also eligible for up to $2.56 billion in potential milestone payments based on development and commercialization achievements. This collaboration leverages ABL Bio's 'Grabody-B' platform, which helps transport medicines across the blood-brain barrier. The announcement has had a dramatic impact on ABL Bio, with its shares surging approximately 80% over the past week, making its founder, Lee Sang-hoon, a billionaire. This strategic move underscores Lilly's commitment to expanding its therapeutic reach beyond its highly successful GLP-1 drugs for diabetes and weight loss.