ABL Bio, Inc., a South Korea-based clinical-stage biotech developing bispecific antibody technology for immuno-oncology and neurodegenerative diseases, has announced an exclusive collaboration and worldwide license agreement with Sanofi to develop and commercialize ABL301, a pre-clinical stage bispecific antibody targeting alpha-synuclein and IGF1R to treat Parkinson's disease and other potential indications with enhanced blood-brain barrier (BBB) penetration.

Under the terms of the agreement, ABL will receive $75 million in upfront payments. In addition, ABL is eligible to receive up to $985 million based on the achievement of predefined development, regulatory and commercialization milestones, including $45 million in near-term milestones. ABL is also eligible to receive royalties on net sales if the product from the collaboration is commercialized.

Sanofi will receive worldwide exclusive development and commercialization rights to ABL301. Meanwhile, ABL will lead the preclinical development and Phase 1 clinical trial of ABL301. Thereafter, Sanofi will be responsible for further clinical development, regulatory approval and commercialization of ABL301 worldwide.