ABL Bio

What ABL Bio does

ABL Bio is a South Korea-based clinical-stage biotechnology company founded in 2016 and listed on the KOSDAQ exchange (ticker 298380). The company specializes in the discovery and development of bispecific antibody therapeutics, with primary focus areas in immuno-oncology and neurodegenerative diseases. ABL Bio's core technology rests on three proprietary platforms: Grabody-T (4-1BB agonism for oncology), Grabody-B (blood-brain barrier shuttle for CNS-targeted therapeutics), and Grabody-I (immune checkpoint modulation). The company is also developing bispecific antibody-drug conjugates (ADCs) using N-terminal selective conjugation technology, which has been spun out into NEOK Bio. Its clinical pipeline includes givastomig (CLDN18.2 x 4-1BB, partnered with Compass Therapeutics), tovecimig (4-1BB x 5T4), and ABL301 (alpha-synuclein x IGF1R for Parkinson's disease, partnered with Sanofi).

ABL Bio operates a B2B out-licensing business model, monetizing its platforms and pipeline assets through upfront payments, milestone payments, and royalties from global pharmaceutical partners rather than through direct product commercialization. Headline deal value across disclosed partnerships exceeds $6 billion (Sanofi $1.06B in 2022, GSK $2.5B in 2025, Eli Lilly $2.6B in 2025), though the vast majority of these figures are back-end-loaded milestone and royalty potential. Upfront cash receipts, equity investments, and milestone payments drive near-term revenue, which is inherently lumpy. The company has also secured U.S. regulatory designations — FDA Fast Track and Orphan Drug status for both givastomig and tovecimig — which materially de-risk the lead oncology assets and strengthen partner economics. ABL Bio is headquartered in Seongnam, South Korea, with 51-100 employees, and has begun expanding its U.S. footprint via the NEOK Bio spin-off and strategic equity from Eli Lilly.

Name

ABL Bio

Legal name

ABL Bio, Inc.

Website

https://ablbio.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

ABL Bio is a South Korean clinical-stage biotech developing bispecific antibody therapeutics in oncology and neurodegenerative diseases via proprietary Grabody platforms, monetized primarily through out-licensing deals with global pharmaceutical partners such as Sanofi, Eli Lilly, and GSK.

Ownership category

akta.pro rank

Product category

Bispecific Antibody Therapeutics & Platform Licensing

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Regulatory Strategy & IND/NDA/BLA Submissions Support (HLAIALAH)

akta.pro secondary industry

Clinical Trial Pharmacy & IMP Management at Site (HLAGACAK)

Keywords

• Bispecific antibody therapeutics
• Immuno-oncology drug development
• Neurodegenerative disease therapeutics
• Antibody-drug conjugates
• Biotechnology platform licensing

Headquarters

HQ city

Seongnam

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Technology Licensing: ABL Bio licenses its bispecific antibody platforms and pipeline candidates to global pharmaceutical companies. Deals include upfront payments, milestone payments tied to development and regulatory achievements, and royalty payments on product sales. Notable deals include GSK ($2.5B for neurodegenerative diseases), Eli Lilly ($2.6B for Grabody platform), Sanofi ($1.06B for ABL301).
2. Milestone Payments: Development milestone payments received upon achievement of specific clinical, regulatory, and commercial milestones. Examples include $40M upfront + $15M equity from Lilly, $7.5M upfront from Sanofi for ABL301, and various milestone payments from Compass Therapeutics for ABL001 progress.
3. Royalty Revenue: Future royalty payments anticipated from commercialized products developed through partnerships. CEO projected that ABL001 royalty revenue in 2027 will significantly transform the company's financial profile.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

ABL Bio is a clinical-stage biotechnology company that develops proprietary bispecific antibody therapeutic platforms and pipeline candidates for immuno-oncology, neurodegenerative diseases, and antibody-drug conjugates. The company generates revenue primarily by licensing its Grabody-T, Grabody-B, and Grabody-I platforms and pipeline assets (such as ABL111, ABL503, ABL301, ABL001) to global pharmaceutical partners via upfront payments, milestone payments, and royalties.

Product overview

ABL Bio is a South Korean bispecific antibody biotech company with three proprietary platform technologies: Grabody-T (4-1BB-based immuno-oncology platform), Grabody-I (immune checkpoint bispecific platform), and Grabody-B (BBB shuttle platform for neurodegenerative diseases). The company operates a diverse pipeline including clinical candidates like Givastomig (ABL111) for gastric cancer, Ragistomig (ABL503), ABL501, and ABL301 (licensed to Sanofi for Parkinson's). Their ADC programs include ABL206 and ABL209 being developed through subsidiary NEOK Bio. Multiple programs are partnered with global pharma including Eli Lilly (Grabody-B), GSK (BBB platform), Sanofi (ABL301), and Compass Therapeutics (ABL001).

Differentiator

Problem solved

Functional benefit

Brands

• Grabody-T: 4-1BB based bispecific antibody platform for immuno-oncology that activates T cells only in tumor microenvironment
• Grabody-B
• Grabody-I

Products and services

• Grabody-T Platform A 4-1BB-based bispecific antibody platform that activates T cells only in tumor microenvironments where tumor antigens are present, minimizing systemic toxicity associated with traditional 4-1BB immunotherapy. Licensed to global pharmaceutical partners as a development engine.
• Grabody-B Platform A blood-brain barrier (BBB) shuttle platform that uses IGF1R targeting to maximize delivery of therapeutic antibodies into the brain for treatment of neurodegenerative diseases. Achieves 7x or higher BBB penetration versus monoclonal antibodies in preclinical studies.
• Grabody-I Platform An immune checkpoint bispecific antibody platform designed to overcome limitations of conventional PD-(L)1 therapy by targeting multiple immune checkpoint pathways.
• Givastomig (ABL111) Bispecific antibody targeting Claudin 18.2 and 4-1BB for treatment of gastric cancer, jointly developed with NovaBridge Biosciences. Received FDA Fast Track and Orphan Drug designations. Demonstrated 75% objective response rate and 16.9-month median progression-free survival in Phase 1b trial.
• Ragistomig (ABL503) Bispecific antibody targeting PD-L1 and 4-1BB for immuno-oncology applications, designed to minimize 4-1BB toxicity while augmenting T-cell activation. Jointly developed with NovaBridge Biosciences.
• ABL501 Bispecific antibody targeting LAG-3 and PD-L1 immune checkpoint pathways to overcome resistance and low response rates in conventional PD-(L)1 therapy.
• ABL301 (SAR446159) Bispecific antibody for Parkinson's disease using Grabody-B platform to deliver alpha-synuclein targeting antibodies across the blood-brain barrier. Licensed to Sanofi for global development.
• ABL001 (Tovecimig) Bispecific antibody targeting VEGF and DLL4 for treatment of solid tumors, particularly biliary tract cancer. Licensed to Compass Therapeutics.
• ABL206 (NEOK001) First-in-class bispecific ADC targeting B7-H3 and ROR1 with topoisomerase I inhibitor payload, developed through NEOK Bio subsidiary for advanced solid tumors.
• ABL209 (NEOK002) Bispecific ADC targeting EGFR and MUC1 with topoisomerase I inhibitor payload, developed through NEOK Bio subsidiary for advanced solid tumors.
• ABL105 (Nesfrotamig) Bispecific antibody targeting HER2 and 4-1BB for solid tumor treatment, licensed to Yuhan Corporation for Korea and Australia development.
• ABL103 Bispecific antibody targeting B7-H4 and 4-1BB for solid cancer treatment, designed to activate T cells only in B7-H4 expressing tumor microenvironments.
• ABL202 (CS5001/LCB71) ROR1-targeting ADC developed in partnership with LegoChem Biosciences and licensed to CStone Pharmaceuticals for global development excluding Korea.

Quantifiable outcome

• 75% objective response rate (ORR) and 16.9-month median progression-free survival for givastomig (ABL111) in Phase 1b trial
• +5 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered flagship, core and minor.

• Eli LillyflagshipStrategic or Co-development Partner · 26 December 2025Licensing, research, and collaboration agreement for Grabody platform worth $2.6 billion total. ABL Bio received $40 million upfront payment and $15 million equity investment from Lilly. The agreement aims to advance the Grabody platform for therapeutic development in areas including obesity and muscle disorders.
• NeoK BiocoreStrategic or Co-development Partner · 1 November 2025ABL Bio's US subsidiary developing bispecific ADCs ABL206 (NEOK001) and ABL209 (NEOK002). Launched with $75M Series A financing led by ABL Bio. Phase 1 clinical trials initiated.
• GSKflagshipStrategic or Co-development Partner · 1 April 2025$2.5 billion licensing agreement for development of therapies for neurodegenerative diseases using Grabody platform.
• MSD (Merck)minorStrategic or Co-development Partner · 1 July 2024Clinical trial collaboration and supply agreement for ABL103 with KEYTRUDA (pembrolizumab) combination therapy in advanced/metastatic solid tumors.
• SynaffixcoreTechnology or Integration · 1 January 2024Linker-payload technology licensing agreement for next-generation bispecific ADC development.
• IntoCellcoreTechnology or Integration · 1 January 2024Linker-payload technology partnership for bispecific ADC development.
• Ionis PharmaceuticalscoreStrategic or Co-development Partner · 15 May 2022Collaboration on siRNA and Grabody-B conjugation demonstrating delivery to cerebellum and various brain regions, muscle, heart, and lungs. Research presented at TIDES USA 2026.
• SanofiflagshipStrategic or Co-development Partner · 1 January 2022$1.06 billion co-development and licensing agreement for ABL301 (Parkinson's disease treatment using Grabody-B platform). Includes $750M upfront payment and milestones. Sanofi responsible for Phase 2+ clinical development.
• Yuhan CorporationcoreStrategic or Co-development Partner · 1 January 2022Licensed ABL105 (HER2x4-1BB) for development in Korea and Australia. Phase 1/2 clinical trial being conducted by Yuhan.
• NovaBridge Biosciences (formerly I-Mab)coreStrategic or Co-development Partner · 30 March 2021Joint development of ABL111 (Givastomig) targeting Claudin 18.2 and 4-1BB for gastric cancer; ABL503 (Ragistomig) targeting PD-L1 and 4-1BB for solid tumors. FDA Fast Track designation obtained for givastomig.
• LegoChem BiosciencescoreTechnology or Integration · 2 November 2020Expanded ADC technology cooperation including bispecific antibody ADCs. Previously successful licensing of ABL202 (LCB71) to CStone. Four joint projects ongoing including next-generation ADC development.
• CStone PharmaceuticalscoreStrategic or Co-development Partner · 1 October 2020Licensed ABL202 (ROR1 ADC, CS5001/LCB71) for global development excluding Korea. $117M exclusive China licensing deal by TRIGR and Elpiscience included this asset.
• Compass TherapeuticscoreStrategic or Co-development Partner · 1 January 2018Licensed ABL001 (Tovecimig) for global development excluding Korea and Greater China. Compass conducting Phase 2/3 COMPANION-002 trial in biliary tract cancer. FDA Fast Track and Orphan Drug designations obtained.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Xencor: Clinical-stage biotech developing engineered bispecific antibodies using the XmAb platform, with multiple pharma partnerships and pipeline assets in oncology. Comparable technology platform and licensing-based business model.
• Macrogenics: Clinical-stage oncology biotech developing bispecific antibodies (e.g., vobramitamig duocarmazine, enoblituzumab) with multiple Big Pharma partnerships. Comparable in pipeline scope and target indications.
• Denali Therapeutics: Biotech developing BBB-penetrant therapeutics for neurodegenerative diseases, sharing ABL Bio's Grabody-B strategic focus. Closely comparable in CNS delivery technology and target indications (Parkinson's, Alzheimer's).
• Maverick Therapeutics (acquired by Takeda): Developed T cell-engaging bispecific antibodies using the COBRA platform. Highly comparable technology approach (conditional 4-1BB-like activation) and was acquired by Takeda in 2021, representing a potential exit path for ABL Bio.
• Genmab: Danish biotech pioneer in bispecific antibody technology with the proprietary DuoBody platform. Most directly comparable peer in technology, business model (platform licensing), and target indications (immuno-oncology).
• Compass Therapeutics: Clinical-stage bispecific antibody developer and ABL Bio's licensee for ABL001 (Tovecimig). Direct operating peer with overlapping pipeline in oncology and similar partnership-driven model.
• Zymeworks: Clinical-stage biotech with the Azymetric and ZymeLink platforms for bispecific antibodies and ADCs. Direct competitor in both bispecific antibody and ADC spaces with similar licensing-driven revenue model.
• LegoChem Biosciences: Korean biotech developing ADCs including the LCB71 (ABL202) platform that ABL Bio licensed to CStone. Direct technology partner and Korean biotech peer with overlapping ADC pipeline.
• Harpoon Therapeutics (acquired by Merck): Developed T cell engagers and bispecific antibodies including HPN328. Acquired by Merck for $680M in 2024, providing a relevant M&A comparable for ABL Bio's platform-licensing business model.

Emerging players

• I-Mab Biopharma / NovaBridge Biosciences: Co-development partner on ABL111 (Givastomig) and ABL503 (Ragistomig). Asian emerging biotech with comparable bispecific antibody pipeline and strategic transformation plans relevant to ABL Bio's growth model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ablbio

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ABL Bio