ABL Bio, Sanofi sign $1bn deal for Parkinson’s candidate ABL301
ABL Bio has bagged a global collaboration and licensing deal worth up to $1.06 billion with Sanofi to develop and commercialize its drug candidate ABL301 for the treatment of Parkinson’s disease.
According to the South Korean biotech firm, ABL301 is a pre-clinical stage bispecific antibody, which targets alpha-synuclein and insulin-like growth factor 1 receptor (IGF1R). Apart from Parkinson’s disease, ABL301 is also being developed for other potential indications associated with enhanced blood-brain barrier (BBB) penetration.
Sanofi will gain worldwide exclusive development and commercialization rights to the bispecific antibody, which uses ABL Bio’s Grabody-B platform technology to cross the blood-brain barrier effectively.
ABL Bio will be responsible for leading the preclinical development and phase 1 clinical trial of ABL301. Thereafter, its French partner will handle the further clinical development, regulatory approval, and commercialization of ABL301 around the world.
ABL Bio, Sanofi sign $1bn deal for Parkinson’s disease candidate ABL301. Photo courtesy of Annick Vanblaere from Pixabay.
Sang Hoon Lee — CEO of ABL Bio said: “This groundbreaking partnership with SANOFI proves the immense possibilities of ABL’s innovative bispecific antibody technology.
“We will continue to develop our Grabody-B platform and expand its applicability in other neurodegenerative diseases, such as Alzheimer’s, to contribute to improving the lives of patients worldwide.”
As per the terms of the agreement, ABL Bio will get upfront payments of $75 million from the French pharma company. Additionally, the South Korean firm is eligible to be paid up to $985 million, which is contingent on meeting predefined development, regulatory, and commercialization milestones. The amount includes a $45 million payment in near-term milestones.
Besides, ABL Bio will also stand to get royalties on net sales if the product from the collaboration with Sanofi is commercialized.
The deal will come into effect after HSR clearance and other customary closing conditions are met.