– Secured a total of $55 million in R&D funding, including a $40 million upfront payment and $15 million in equity investment

– Speeding up R&D on core technologies, such as expanding indications for the Grabody platform

SEOUL, South Korea, Dec. 26, 2025 — ABL Bio (CEO Sang Hoon Lee), a bispecific antibody specialist, announced it will receive a $40 million upfront payment from Eli Lilly and Company (“Lilly”) for a license, research and collaboration agreement tied to its Grabody platform, plus a $15 million equity investment from Lilly.

ABL Bio and Lilly are currently collaborating on the research and development of multiple therapeutic candidates using the Grabody platform across various modalities.

As it strengthens its partnership with Lilly, ABL Bio plans to accelerate R&D on its core technologies—including the Grabody bispecific antibody platform, bispecific ADCs, and dual-payload ADCs—with the newly secured funding.

Sang Hoon Lee, CEO of ABL Bio, said: “Following the completion of relevant administrative steps, including compliance with the HSR Act, ABL Bio will receive the upfront payment and equity investment from Lilly. The company intends to use this new funding to expand the Grabody platform’s indications into high-unmet-need areas like obesity and muscle disorders. We also aim to extend the clinical development of our bispecific immuno-oncology candidates into combination therapies and focus on advancing next-generation ADC programs.”

Separately, on November 12 and 14, ABL Bio signed a license, research and collaboration agreement with Lilly for the Grabody platform valued at $2.602 billion (including the $40 million upfront payment), along with a $15 million equity investment agreement. Based on these deals, ABL Bio is exploring a wide range of long-term collaborative opportunities with Lilly to develop therapies.

About ABL Bio

ABL Bio is developing a range of clinical and preclinical assets based on its Grabody bispecific antibody platform. Eight pipeline clinical projects—including ABL301 (SAR446159), ABL001 (tovecimig), ABL111 (givastomig), ABL503 (ragistomig), ABL105 (YH32367), ABL104 (YH32364), ABL103, and ABL202 (CS5001/LCB71)—are underway for various indications in countries such as the United States, China, Australia, and Korea. After completing the Phase 1 clinical trial of ABL301 (SAR446159), Sanofi will conduct subsequent clinical studies. ABL001 (tovecimig) has received Fast Track designation from the U.S. Food and Drug Administration (FDA). Additionally, ABL111 (givastomig), co-developed with NovaBridge, presented encouraging data from a Phase 1b clinical trial evaluating a triple combination therapy with nivolumab and chemotherapy at ESMO GI 2025. ABL Bio is also continuously researching and developing other product candidates, including bispecific antibody-drug conjugates (ADCs).

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