SHANGHAI and SEOUL /PRNewswire/ -- WuXi Biologics (2269.HK, WuXi Bio), a leading global open-access biologics technology platform company offering end-to-end solutions for biologics discovery, development and manufacturing, and ABL Bio Corporation (ABL Bio), a privately-held South Korean biotechnology company developing antibody therapeutics for immuno-oncology and neurodegenerative diseases, today announced that the companies have entered into an exclusive development and clinical manufacturing partnership for up to 8 antibody therapeutics including ABL Bio's biologics pipelines and collaboration programs between ABL Bio and I-Mab Biopharma (I-Mab). The agreement showcases the expansive biologics pipeline of ABL Bio and the world leading technical expertise and capabilities of WuXi Biologics in developing bispecific programs.
"We are very pleased to enter into this partnership with WuXi Biologics. The partnership with WuXi Biologics is an important strategy for growing our internal and external programs of next-generation of biologics such as bispecific antibody. WuXi Biologics has enabled several preclinical and clinical manufacturing programs for ABL Bio as well as collaboration with I-Mab," said Dr. Sang Hoon Lee, Chief Executive Officer of ABL Bio. "I believe that the partnership with WuXi Biologics will bring a synergy effect for developing our bispecific antibody pipelines and help us step up to be a global top-tier biotechnology company for immuno-oncology and neurodegenerative disease treatment."
"We are excited about this exclusive partnership, our first in South Korea. WuXi Biologics has been well recognized as a global leader in the development and manufacturing of difficult biologics such as bispecific antibodies. This agreement continues to exemplify our technical strength and unparalleled capacity in global biologics development and manufacturing," said Dr. Chris Chen, Chief Executive Officer of WuXi Biologics. "We are able to initiate 60 IND-enabling programs and 3 BLA-enabling programs per year, enabled by one of the largest biologics development teams in the industry of approximately 2000 scientists. With globally recognized technical capabilities and unparalleled capacities, we are transforming how biologics are developed in the global setting."
About ABL Bio
ABL Bio is a privately-held South Korean biotechnology company developing antibody therapeutics for immuno-oncology and neurodegenerative disease. ABL Bio was founded in 2016 and successfully raised close to $ 100 million USD in less than 3 years and is currently preparing to IPO on the Korean stock exchange (KOSDAQ). ABL001, a bispecific antibody (BsAb) targeting VEGF and DLL4 is currently in Phase 1 clinical trial for oncology. In the neurodegenerative disorder space, ABL Bio is harnessing its BsAb expertise to develop next-generation BsAbs designed to maximize blood–brain barrier (BBB) penetrance and therapeutic efficacy. The most advanced molecule is ABL301, an α-synuclein-targeting BsAb that penetrates the BBB via a receptor-mediated transcytosis (RMT) and is in development for Parkinson's disease (PD). ABL Bio is also actively developing immune-oncology therapies and has built strong R&D team to develop First-in-Class and Best-in-Class BsAbs. For more information, check out www.ablbio.com.
About WuXi Biologics
WuXi Biologics (stock code: 2269.HK), a Hong Kong-listed company, is the only open-access biologics technology platform in the world offering end-to-end solutions to empower organizations to discover, develop and manufacture biologics from concept to commercial manufacturing. Our company history and achievements demonstrate our commitment to providing a truly ONE-stop service offering and value proposition to our global clients. As of June 30, 2018, there were a total of 187 integrated projects, including 98 projects in pre-clinical development stage, 78 projects in early-phase (phase I and II) clinical development, 10 projects in late-phase (phase III) development and 1 project in commercial manufacturing. With total estimated capacity of biopharmaceutical production planned in China, Ireland, Singapore and US reaching 220,000 liters by 2021, we will provide our biomanufacturing partners with a robust and premier-quality global supply chain network. For more information on WuXi Biologics, please visit www.wuxibiologics.com.