WuXi Biologics, a leading global open-access biologics technology platform company offering end-to-end solutions for biologics discovery, development and manufacturing, and ABL Bio Corporation (“ABL Bio”), a South Korean biotechnology company developing antibody therapeutics for immuno-oncology and neurodegenerative diseases, announced the expansion of their strategic partnership for novel bispecific antibodies and immuno-oncology program.
Under the terms of the agreements, ABL Bio has rights to use WuXi Biologics’ proprietary discovery platforms, including WuXiBody™ and CD3 platform, to research, develop and commercialize multiple bispecific antibodies, as well as rights to develop new bispecific antibodies targeting novel immune check point receptor. WuXi Biologics will receive an upfront payment as well as development, regulatory and commercial milestone payments of about $220 million, and will be entitled to royalties based on global sales of these programs.
In November 2018, ABL Bio and WuXi Biologics announced an exclusive development and clinical manufacturing partnership for multiple bispecific antibodies. This announcement today further strengthens the breadth and depth of the companies’ collaboration.
We are quite excited about this collaboration with WuXi Biologics. I believe that the partnership with WuXi Biologics will bring a synergy for developing our bispecific antibody pipelines. It will help us to develop novel immune-oncology therapies on different bispecific platforms and lead us to step up to be a global top-tier biotechnology company for immuno-oncology and neurodegenerative disease treatment,
said Dr. Sang Hoon Lee, CEO of ABL Bio.
We are glad to expand the partnership with ABL Bio, which manifests that WuXi Biologics has been well recognized as a global leader in the development and manufacturing of next-generation biologics such as bispecific antibodies. This is the 7th partnership we signed since we globally launched this exciting platform last August. Quick adoption of our WuXiBody™ bispecific platform further validates that this proprietary platform addresses most technical limitations of current bispecific platforms and can potentially tremendously reduce the cost of making these biologics. WuXi Biologics will continue to invest in developing globally leading next-generation technologies to accelerate and transform biologics discovery, development and manufacturing. With globally recognized technical capabilities and unparalleled capacities, we are transforming how biologics are developed in the global setting
said Dr. Chris Chen, CEO of WuXi Biologics.