South Korean clinical-stage biotech company ABL Bio (KOSDAQ:298380) signed a global licensing deal with British pharmaceutical and biotechnology firm GlaxoSmithKline to develop neurodegenerative disease treatments using its Grabody-B blood-brain barrier shuttle platform.
The agreement includes an upfront and near-term payment of up to 77.1 million pounds, with total milestone payments potentially reaching 2.075 billion pounds, ABL Bio said Sunday.
GlaxoSmithKline will lead the development, manufacturing, and commercialization efforts, while ABL Bio will receive tiered royalties on future sales, the release said.
ABL Bio hit the daily trading limit on Monday, soaring 29.96% to 44,250 won following the deal on Sunday, according to Pulse News.
Shares of the company jumped over 17% in recent trade on Tuesday.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。