Peptron, Inc., a South Korea-based biotech company, and Qilu Pharmaceutical, a China-based pharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative medicines, have announced that the companies have entered into an exclusive licensing agreement for the manufacturing, development and commercialization of Peptron's PAb001-ADC, the antibody-drug conjugate (the "ADC") product containing the anti-MUC1 monoclonal antibody PAb001 as effective of March 26, 2021.

Under the terms of the agreement, Peptron grants Qilu an exclusive global right and license to develop, manufacture, sell, and commercialize PAb001-ADC for the treatment of cancers.

PAb001-ADC is a pre-clinical ADC entering into Investigational New Drug ("IND") enabling studies. It targets MUC1, a high-potential ADC target for multiple solid and hematological malignancies. MUC1 is overexpressed in many cancers and is recognized as a promising molecular target for therapeutic development for various types of cancers.