What AbClon does

AbClon (앱클론 주식회사) is a Seoul-headquartered, KOSDAQ-listed (ticker A174900) biopharmaceutical company founded in 2010 as a Korea-Sweden joint venture, specializing in antibody-based therapeutics and CAR-T cell therapies. The company operates three proprietary technology platforms: NEST (Novel Epitope Screening Technology) for discovering antibodies targeting novel epitopes, AffiMab for bispecific antibody development combining monoclonal antibodies with Affibody molecules, and zCAR-T (switchable CAR-T) for controllable T-cell activity in solid tumors. Its clinical pipeline includes six programs: AT101/nespe-cel (CD19 CAR-T for relapsed/refractory B-cell lymphoma in Phase 2), AT501 (zCAR-T for HER2-positive solid tumors), AC101/HLX22/dulpatatug (HER2 antibody for first-line gastric cancer in global Phase 3 with partner Henlius), AM201 (IL-6/TNF-α bispecific for autoimmune diseases), AM105 (EGFR×CD137 bispecific), and AM109 (PSMA×CD137 for prostate cancer).

AbClon employs approximately 51-100 people with about 80% in R&D, operates a cGMP manufacturing facility at its Seoul headquarters for CAR-T production, and holds over 80 patents across major jurisdictions. The company serves hematologic and solid tumor patients (relapsed/refractory B-cell lymphoma, HER2-positive gastric and breast cancer, ovarian, prostate, colorectal cancers) as well as autoimmune disease patients (rheumatoid arthritis).

AbClon's business model is structured as a licensing and royalty platform rather than direct commercialization. The company discovers and develops novel therapeutics internally, then out-licenses to larger pharmaceutical partners for global development and commercialization in exchange for upfront payments, development milestones, and ongoing royalties on commercial sales. Its core economic relationship is with Shanghai Henlius Biotech for HLX22/AC101, with Alligator Bioscience entitled to 35% of sublicense revenue. Korea distribution is handled by Chong Kun Dang (also a 7.33% strategic shareholder), and Turkey/Europe expansion is enabled via TCT Health Technology. Revenue is supplemented by government grants (KDDF) and national drug development project funding. As of end-2025, the company held approximately 450 billion KRW in liquid assets and reported revenue exceeding 300 billion KRW for 2025, primarily driven by licensing milestones.

Name

AbClon

Legal name

앱클론 주식회사

Website

https://abclon.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

AbClon is a Seoul-based, KOSDAQ-listed biopharmaceutical company developing antibody therapeutics and CAR-T cell therapies through proprietary NEST, AffiMab, and zCAR-T platforms, licensing pipeline assets to partners like Henlius for global development while retaining milestone and royalty economics.

Ownership category

akta.pro rank

Product category

Biopharmaceutical Antibody Therapeutics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Biologics (mAbs/Recombinant Proteins) CDMO (HLAGABAC)

akta.pro secondary industries

Cell Therapy CDMO (HLAGABAD), Gene Therapy CMC/Process Development Platforms (capsid engineering, producer cell lines, plasmids, upstream/downstream) (HLAAACAN), mRNA/LNP & Nucleic Acid Therapeutics CDMO (HLAGABAF)

Keywords

• Antibody therapeutics development
• CAR-T cell therapy
• Bispecific antibody platform
• Oncology drug development
• Biopharmaceutical licensing

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Technology Licensing and Royalty Revenue: AbClon discovers and develops novel therapeutics, then licenses technology to larger pharmaceutical partners (e.g., Henlius for HLX22/AC101). Revenue is generated through upfront payments, development milestones, and ongoing royalties on commercial sales. Alligator Bioscience receives 35% of AbClon's sublicense revenue from the Henlius agreement.
2. Government Grants and R&D Support: AbClon receives support from government organizations including KDDF (Korea Drug Development Fund) and participates in national drug development projects for CAR-T and other pipeline programs.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

AbClon is a clinical-stage biopharmaceutical company that discovers and develops novel antibody therapeutics and CAR-T cell therapies for cancer and autoimmune diseases. The company leverages proprietary technology platforms (NEST, AffiMab, CAR-T, mRMAb) to identify differentiated antibody candidates against novel epitopes, then licenses these candidates to larger pharmaceutical partners for global clinical development and commercialization in exchange for upfront payments, development milestones, and royalties.

Product overview

AbClon is a biopharmaceutical company developing innovative antibody-based therapeutics and CAR-T cell therapies through three proprietary technology platforms: NEST (Novel Epitope Screening Technology) for antibody discovery, AffiMab for bispecific antibody development, and CAR-T platform for gene-modified cell therapy. The company's pipeline includes six clinical-stage products: AT101 (nespe-cel), a CD19-targeting CAR-T for blood cancers; AT501 (zCAR-T), a switchable CAR-T for HER2-positive solid tumors; AC101 (dulpatatug/HLX22), a HER2-targeting antibody licensed to Henlius for gastric cancer in global Phase 3; AM201 for autoimmune diseases; and AM105 and AM109, bispecific antibodies for solid tumors and prostate cancer respectively. AbClon operates cGMP manufacturing facilities and maintains global partnerships including licensing AC101 to Shanghai Henlius Biotech.

Differentiator

Problem solved

Functional benefit

Brands

• NEST Platform: Novel Epitope Screening Technology platform for developing innovative antibody therapeutics targeting new epitopes on disease proteins
• AffiMab Platform
• zCAR-T Platform
• Nespe-cel (AT101)
• mRMAb Platform

Products and services

• AT101 (Nespe-cel) CD19-targeting CAR-T cell therapy for relapsed/refractory diffuse large B-cell lymphoma (DLBCL) and B-cell non-Hodgkin lymphoma. Uses AbClon's proprietary humanized h1218 antibody with faster on/off rates and reduced trogocytosis compared to FMC63-based competitor antibodies. WHO INN: 'nespe-cel'. Phase 2 clinical trials ongoing in Korea.
• AT501 (zCAR-T) Switchable CAR-T therapy for HER2-positive solid tumors (ovarian cancer and other solid tumors). Built on the zCAR-T platform using Affibody and switch molecules to enable precise on/off control and dose modulation of T-cell activity, minimizing fatal side effects (CRS, ICANS) while maintaining efficacy.
• AC101 (Dulpatatug / HLX22) HER2-targeting antibody for first-line treatment of HER2-positive gastric/gastroesophageal junction cancer and HER2-positive/low breast cancer. Licensed to Shanghai Henlius Biotech (HLX22 development code). Targets HER2 Domain IV with a different epitope than trastuzumab, enabling synergistic dual blockade. Global Phase 3 (HLX22-GC-301) ongoing with 550 patients across Korea, US, Europe, China, Japan, Latin America, and Australia. Phase 2 showed HR 0.20 (80% reduction in disease progression risk) vs standard of care.
• AM201 Bispecific antibody for autoimmune diseases (rheumatoid arthritis) that simultaneously targets IL-6 and TNF-α. Developed on the AffiMab platform to overcome limitations of single-target biologics. US patent registered May 2026.
• AM105 Bispecific immunotherapy antibody simultaneously targeting EGFR on cancer cells and CD137 (4-1BB) on immune cells. Developed on the AffiMab platform for solid tumor treatment.
• AM109 Bispecific T-cell engager targeting PSMA on prostate cancer cells and CD137 (4-1BB) on T-cells. Developed on the AffiMab platform for treatment-refractory prostate cancer.
• NEST Platform (Novel Epitope Screening Technology) Proprietary antibody discovery platform that identifies antibodies binding to novel epitopes on disease proteins, enabling therapeutic effects differentiated from existing antibody treatments. Licensed and utilized for partner antibody discovery programs.
• AffiMab Platform Bispecific antibody development platform combining monoclonal antibodies with Affibody molecules to simultaneously target two disease protein epitopes, maximizing therapeutic effects in refractory diseases. Licensed and co-developed with partners including Chong Kun Dang.
• CAR-T Platform (zCAR-T Switchable) Personalized anti-cancer gene-modified cell therapy platform. Extracts patient immune cells, genetically modifies them to selectively attack cancer cells, then reinfuses. Includes proprietary switchable zCAR-T technology allowing on/off control and dose modulation to address solid tumor challenges. Operated with cGMP manufacturing facility in Seoul.

Quantifiable outcome

• AT101 Phase 2 interim: 94% ORR and 68% CR in relapsed/refractory B-cell lymphoma patients
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core and major.

• Chong Kun Dang (종근당)coreStrategic or Co-development Partner · 1 March 2025Strategic partnership for co-development of bispecific antibody therapeutics using AffiMab platform. Chong Kun Dang acquired 7.33% stake (2nd largest shareholder) in 2025 through 122 billion KRW equity investment. Holds exclusive sales priority rights for AT101 in Korea.
• TCT Health Technology (Turkey)majorTechnology or Integration · 1 February 2025Technology transfer agreement for AT101/Nespe-cel commercialization in Turkey. TCT handles clinical development and commercialization costs while AbClon receives contract fees and royalties on net sales.
• National Cancer Center KoreamajorStrategic or Co-development Partner · 1 March 2022Joint research and development agreement for gastric cancer CAR-T therapy.
• GC Green Cross LabCell (GC녹십자랩셀)majorTechnology or Integration · 1 January 2020Technology transfer of HER2 antibody for CAR-NK cell therapy development targeting solid tumors. GC LabCell is developing AB-201 incorporating AbClon's HER2 antibody.
• University of Pennsylvania (Penn)majorStrategic or Co-development Partner · 1 January 2020Joint development partnership for innovative CAR-T therapy research. Collaboration has produced joint publications in Nature Immunology on BTLA knockout CAR-T technology.
• Yuhan Corporation (유한양행)majorStrategic or Co-development Partner · 1 May 2018Joint development partnership for immune-oncology bispecific antibody drugs using AbClon's technology platforms.
• Affibody ABmajorTechnology or Integration · 1 February 2018Technology collaboration utilizing Affibody molecules in AbClon's AffiMab bispecific antibody platform and zCAR-T switch technology.
• Shanghai Henlius Biotech (Henlius)coreTechnology or Integration · 1 October 2016AbClon licensed AC101 to Henlius for global development and commercialization. Henlius is developing HLX22 (AC101) for HER2-positive gastric cancer and breast cancer. AbClon receives milestone payments and royalties on sales. Henlius has advanced HLX22 to global Phase 3 trials with ODD from FDA and EC.
• Alligator Bioscience ABmajorStrategic or Co-development Partner · 1 May 2016Buy-out agreement for jointly developed antibody treatments. Alligator is entitled to receive 35% of AbClon's revenue from sublicensing to Henlius.
• Seoul Asan Medical CentermajorStrategic or Co-development Partner · 1 May 2015Clinical trial site for AT101 CAR-T therapy. First patient dosing for Phase 1 initiated at Seoul Asan Medical Center.
• KTH Royal Institute of Technology (스웨덴 왕립과학원)coreTechnology or Integration · 1 June 2010Founding collaboration with Swedish researchers including Professor Matthias Uhlén. Foundation of AbClon's antibody development expertise and NEST platform technology.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Adagene: Adagene is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics using proprietary discovery platforms (POWER platform for novel epitope targeting). Directly comparable to AbClon's NEST platform for novel antibody discovery.
• Zymeworks: Zymeworks develops bispecific antibodies and antibody-drug conjugates for cancer treatment, with platforms including Azymetric and ZymeLink. Comparable to AbClon's AffiMab bispecific platform and cotinine-based ADC conjugation technology.
• Allogene Therapeutics: Allogene Therapeutics develops allogeneic CAR-T cell therapies for blood cancers and solid tumors. Directly comparable to AbClon's autologous CAR-T and zCAR-T platforms, both targeting hematologic and solid tumor indications with novel cell engineering approaches.
• MacroGenics: MacroGenics develops bispecific antibodies and antibody-based therapeutics for cancer and autoimmune diseases, including margetuximab (HER2-targeted) and enoblituzumab. Directly comparable to AbClon's HER2 antibody HLX22 and bispecific pipeline including AM201.
• Legend Biotech: Legend Biotech is a clinical-stage biopharmaceutical company developing CAR-T cell therapies, most notably cilta-cel for multiple myeloma in partnership with Janssen. Comparable to AbClon's CAR-T franchise in modality, target indications, and licensing-based commercialization model.
• Cellectis: Cellectis is a clinical-stage biopharmaceutical company developing allogeneic CAR-T therapies using proprietary TALEN gene editing. Comparable to AbClon's CAR-T and zCAR-T platforms in cell therapy modality and novel engineering approaches.

Regional players

• Shanghai Henlius Biotech: Shanghai Henlius is a Chinese biopharmaceutical company focused on oncology biologics and biosimilars, which licensed AbClon's HLX22/AC101 antibody for global development. Comparable as a regional biologics developer with overlapping HER2 antibody expertise but primarily serving the China market.
• Yuhan Corporation: Yuhan Corporation is a major Korean pharmaceutical company with biosimilar and novel biologics development programs. As an AbClon partner (joint bispecific antibody development since 2018), Yuhan is a regional comparable in Korean biotech innovation with broader commercial scale.

Broad incumbents

• GenScript ProBio: GenScript ProBio is a global biologics CDMO offering cell therapy, gene therapy, and antibody drug development and manufacturing services. Comparable as a broader industry incumbent providing contract development services across biologics and cell therapy modalities relevant to AbClon's platform technologies.
• WuXi Biologics: WuXi Biologics is a leading global biologics CDMO providing end-to-end development and manufacturing services for monoclonal antibodies and bispecifics. Comparable as a broader biologics industry incumbent providing infrastructure that supports the type of antibody development AbClon performs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors4 records

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M&A

Investments

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

Frequently asked questions about AbClon