Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ablbio-inc" target="_blank" data-smartkarma-citation="entities:35621:1" rel="noopener">ABLBio (298380 KS)</a>'s ADC drug candidate ABL111 (givastomig) enters global Phase 2 clinical trial for metastatic gastric cancer. Top line Phase 2 results are expected in 2027.  </li>
<li>Positive Phase 1b data position givastomig to be a potential best-in-class CLDN18.2-directed therapy for gastric cancer, which has a projected $12B market opportunity by 2030.</li>
<li>Last month, FDA approved clinical trial application for a Phase 1 trial of ABL206. ABL206 is the first candidate from ABL Bio’s next-generation ADC pipeline to enter the clinical stage.</li>
</ul>



ABLBio (298380 KS)'s ADC drug candidate ABL111 (givastomig) enters global Phase 2 clinical trial for metastatic gastric cancer. Top line Phase 2 results are expected in 2027.  
Positive Phase 1b data position givastomig to be a potential best-in-class CLDN18.2-directed therapy for gastric cancer, which has a projected $12B market opportunity by 2030.
Last month, FDA approved clinical trial application for a Phase 1 trial of ABL206. ABL206 is the first candidate from ABL Bio’s next-generation ADC pipeline to enter the clinical stage.


ABLBio (298380 KS): Pipeline Is Progressing Toward Commercialization

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<li>
<a href="https://www.smartkarma.com/entities/ablbio-inc" target="_blank" data-smartkarma-citation="entities:35621:1" rel="noopener">ABLBio (298380 KS)</a> has secured equity investment of KRW22B (~$15M) from Eli Lilly. The issue price of KRW125,900 per share represents ~22% discount to last undisturbed closing price.</li>
<li>ABL Bio plans to use the proceeds to advance its core technologies, including bispecific antibody platform, Grabody and bispecific ADCs. ABL Bio has rich pipeline, with eight ongoing clinical projects.</li>
<li>From a long-term perspective, relationship with Lilly opens a broad range of collaborative opportunities to develop innovative therapies. We may see similar deals with other major global pharma companies.</li>
</ul>



ABLBio (298380 KS) has secured equity investment of KRW22B (~$15M) from Eli Lilly. The issue price of KRW125,900 per share represents ~22% discount to last undisturbed closing price.
ABL Bio plans to use the proceeds to advance its core technologies, including bispecific antibody platform, Grabody and bispecific ADCs. ABL Bio has rich pipeline, with eight ongoing clinical projects.
From a long-term perspective, relationship with Lilly opens a broad range of collaborative opportunities to develop innovative therapies. We may see similar deals with other major global pharma companies.


ABLBio (298380 KS): Funding From Lilly To Strengthen Drug Development Capabilities

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

<ul>
<li>On 14 November, ABLBio (298380 KS) announced that it has signed an equity investment agreement with Eli Lilly &amp; Co (LLY US) worth 22 billion won (US$15 million).</li>
<li>ABL Bio will issue 175,079 new shares at 125,900 won per share (27% lower than current price). Despite the high valuation multiples, we maintain a Positive view on ABL Bio.</li>
<li>Its recent major technology agreement with Eli Lilly serves as strong validation from a leading global pharmaceutical company, confirming the significant market potential of ABL’s unique platform technology.</li>
</ul>


On 14 November, ABLBio (298380 KS) announced that it has signed an equity investment agreement with Eli Lilly &amp; Co (LLY US) worth 22 billion won (US$15 million).
ABL Bio will issue 175,079 new shares at 125,900 won per share (27% lower than current price). Despite the high valuation multiples, we maintain a Positive view on ABL Bio.
Its recent major technology agreement with Eli Lilly serves as strong validation from a leading global pharmaceutical company, confirming the significant market potential of ABL’s unique platform technology.


ABL Bio: Equity Investment of 22 Billion Won from Eli Lilly

Thematic (Sector/Industry)

<ul>
<li>NMPA accepted Simcere’s resubmitted NDA for Rademikibart for the treatment of atopic dermatitis. FDA has granted Priority Review to Beigene’s indication expansion application for Tevimra in first-line gastroesophageal adenocarcinoma.</li>
<li>FDA has accepted Taiho Pharmaceutical’s NDA for NSCLC drug candidate zipalertinib. Kyowa Kirin and Kura Oncology initiated Japanese Phase 2 registrational clinical trial studying ziftomenib, for acute myeloid leukemia.</li>
<li>Sun Pharmaceutical is acquiring Organon for $14 per share in an all‑cash transaction with an enterprise valuation of $12B. The transaction is expected to close in early 2027.</li>
</ul>


NMPA accepted Simcere’s resubmitted NDA for Rademikibart for the treatment of atopic dermatitis. FDA has granted Priority Review to Beigene’s indication expansion application for Tevimra in first-line gastroesophageal adenocarcinoma.
FDA has accepted Taiho Pharmaceutical’s NDA for NSCLC drug candidate zipalertinib. Kyowa Kirin and Kura Oncology initiated Japanese Phase 2 registrational clinical trial studying ziftomenib, for acute myeloid leukemia.
Sun Pharmaceutical is acquiring Organon for $14 per share in an all‑cash transaction with an enterprise valuation of $12B. The transaction is expected to close in early 2027.


APAC Healthcare Weekly (May 3) – Simcere, Beigene, Otsuka, Kyowa Kirin, Sun Pharma

<ul>
<li>Wuxi XDC partnered with Akari Therapeutics to accelerate IND filing for Akari’s ADC program. Xuanzhu Biopharmaceutical entered licensing agreement with Boston Oncology for upfront and milestone payments of $100M+.</li>
<li>Shionogi secured $119M BARDA contract for manufacturing, procurement, and expanded development of Fetroja for biothreat-related infections. ABL Bio’s partner has received Orphan Drug Designation from the FDA for tovecimig.</li>
<li>PharmaEssentia signed an investment agreement for a new manufacturing facility in Puerto Rico. Max Healthcare Institute is acquiring 58.4% stake in 250-bedded Kalinga Hospital for INR3B.</li>
</ul>


Wuxi XDC partnered with Akari Therapeutics to accelerate IND filing for Akari’s ADC program. Xuanzhu Biopharmaceutical entered licensing agreement with Boston Oncology for upfront and milestone payments of $100M+.
Shionogi secured $119M BARDA contract for manufacturing, procurement, and expanded development of Fetroja for biothreat-related infections. ABL Bio’s partner has received Orphan Drug Designation from the FDA for tovecimig.
PharmaEssentia signed an investment agreement for a new manufacturing facility in Puerto Rico. Max Healthcare Institute is acquiring 58.4% stake in 250-bedded Kalinga Hospital for INR3B.


APAC Healthcare Weekly (April 12) – Wuxi XDC, Xuanzhu Biopharma, Shionogi, ABL Bio, PharmaEssentia

South Korea

ABLBio, Inc. operates as a drugs development company. The Company develops and manufactures neurodegenerative diseases therapeutic drugs, oncology therapeutic drugs, and other products. ABLBio markets its products throughout Korea.

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ABLBio (298380 KS)

ABLBio (298380 KS): Pipeline Is Progressing Toward Commercialization

ABLBio's ADC candidate ABL111 enters global Phase 2 trial for gastric cancer, with $12B opportunity by 2030. FDA also approves Phase 1 trial for...

Tina Banerjee

ABLBio (298380 KS): Funding From Lilly To Strengthen Drug Development Capabilities

ABLBio secured equity investment of KRW22B from Eli Lilly. ABL Bio plans to use the proceeds to advance its core technologies, including bispecific...

Tina Banerjee

ABL Bio: Equity Investment of 22 Billion Won from Eli Lilly

On 14 November, ABLBio (298380 KS) announced that it has signed an equity investment agreement with Eli Lilly & Co (LLY US) worth 22 billion won...

Douglas Kim

APAC Healthcare Weekly (May 3) – Simcere, Beigene, Otsuka, Kyowa Kirin, Sun Pharma

NMPA accepted Simcere’s resubmitted NDA for Rademikibart. Beigene got FDA’s priority review for label expansion of Tevimra. Sun Pharma is acquiring...

Tina Banerjee

APAC Healthcare Weekly (April 12) – Wuxi XDC, Xuanzhu Biopharma, Shionogi, ABL Bio, PharmaEssentia

Wuxi XDC inked deal with Akari Therapeutics. Xuanzhu Bio entered licensing deal with Boston Oncology. Shionogi secured $119M BARDA contract for...

Tina Banerjee

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52-week Range

Market Cap (USDm)

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ABLBio (298380 KS): Pipeline Is Progressing Toward Commercialization

​ABLBio's ADC candidate ABL111 enters global Phase 2 trial for gastric cancer, with $12B opportunity by 2030. FDA also approves Phase 1 trial for...

Tina Banerjee

ABLBio (298380 KS): Funding From Lilly To Strengthen Drug Development Capabilities

ABLBio secured equity investment of KRW22B from Eli Lilly. ABL Bio plans to use the proceeds to advance its core technologies, including bispecific...

Tina Banerjee

ABL Bio: Equity Investment of 22 Billion Won from Eli Lilly

On 14 November, ABLBio (298380 KS) announced that it has signed an equity investment agreement with Eli Lilly & Co (LLY US) worth 22 billion won...

Douglas Kim

APAC Healthcare Weekly (May 3) – Simcere, Beigene, Otsuka, Kyowa Kirin, Sun Pharma

NMPA accepted Simcere’s resubmitted NDA for Rademikibart. Beigene got FDA’s priority review for label expansion of Tevimra. Sun Pharma is acquiring...

Tina Banerjee

APAC Healthcare Weekly (April 12) – Wuxi XDC, Xuanzhu Biopharma, Shionogi, ABL Bio, PharmaEssentia

Wuxi XDC inked deal with Akari Therapeutics. Xuanzhu Bio entered licensing deal with Boston Oncology. Shionogi secured $119M BARDA contract for...

Tina Banerjee

ABLBio's ADC candidate ABL111 enters global Phase 2 trial for gastric cancer, with $12B opportunity by 2030. FDA also approves Phase 1 trial for...